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Millennial "Fusionistas" Require New Marketing Strategies(May 09, 2012)
ROCKVILLE, MD -- (Marketwire) -- 05/09/12 -- MarketResearch.com has announced the addition of the new report "Millennials in the U.S.," to their collection of Demographics market reports. For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Millennials-6912998/
The fact that Latinos will account for more than 80% of the growth in the population of 18- to 29-year-olds over the next few years makes them a prime demographic for marketers targeting consumers in the their 20s. However, marketers need to take into account the ongoing rapid shift in the composition of the population of younger Latinos. According to 2010 Census data compiled by Washington, D.C.-based Pew Hispanic Center, 58% of Latinos in the 20- to 29-year-old age group are U.S.-born. Even more striking is the fact that 81% of Latinos in the 15- to 19-year-old age group and 95% of those in the 10- to 14-year-old age segment were born in the United States. Thus, within a few years, U.S.-born Latinos will dominate the 18- to 29-year-old age segment in the Latino population.
Even now, the accelerating change in the foreign/U.S.-born split among young Latinos has had a significant impact on the media usage habits of Latino Millennials, who for the most part are now the children, grandchildren or even great-grandchildren and beyond of Latino immigrants. As seen in Table 2-7, 73% of 18- to 29-year-old Latinos watched English-only or a combination of English- and Spanish-language television in the past seven days. Only 4% watched Spanish-language television alone. A comparable split occurred among those listening to radio during this time period (65% vs. 6%).
When Millennial Latinos read magazines or visit websites, English predominates even more. They are more likely to read English-language magazines alone then they are to look into a combination of English and Spanish magazines (28% vs. 21%). When going online, 18- to 29-year-old Latinos are even more likely to choose to visit English-language websites alone rather than both English- and Spanish-language sites (38% vs. 25%). As a result, marketers in both the Latino and youth markets have had to revamp their thinking about how to approach this critically important demographic.
Media Consumption Habits of 18- to 29-Year-Old Latinos, English vs. Spanish
English and Media Usage Spanish English Only Spanish Only -------------- -------------- -------------- Last 7 days Television 48% 25% 4% Radio 41 24 6 Last 30 days Magazines 21 28 4 Websites 25 38 4
Source: Compiled by Packaged Facts based on data from Experian Simmons National Consumer Study, Summer 2011. This material is reprinted with permission.
For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Millennials-6912998/
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