Page 41 - Synchrony US Hispanic Market Playbook

Hard work and family unity are strong Hispanic values that are still very much present

in today’s younger Hispanics. Twenty percent of Hispanic Millennials are more likely to
feel that providing financial support to their family is a top priority, but also prioritize
receiving some type of financial help from family members**.

 72% of Hispanic Millennials support their family financially in some way, and
17% have been providing support since they were old enough to have a job. This
support can be in the form of helping parents or extended family in the US
or sending money to family abroad.
 58% of them are receiving some sort of financial support from immediate or
extended family (versus 49% of non-Hispanic Millennials)

 Caregiving is prevalent in Hispanic households, and this is no exception when it
comes to Hispanic Millennials. 44% provide some type of caregiving to one or
more members of their family.

*https://www.forbes.com/sites/isaacmizrahi/2019/05/20/hispanic-millennials-are-closer-to-the-hispanic-culture-than-most-
think/?sh=3cf027a96e63
**Bank of America Report: “Hispanic Millennials’ Financial Experiences, Challenges & The Path Forward”. August 2021.

Hispanic Millennials are 19% more likely than Gen X Hispanics to use their mobile
device to find coupons online. Not only do Hispanics like visiting sites that offer
discounted products, Hispanics also tend to visit social media sites to find additional
exclusive offers, coupons and discounts. When considering these facts, it would be
wise to launch marketing campaigns to Hispanics that incorporate exclusive offers
within the messaging.

Source: 2021 Hispanic Market Report - Claritas

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