Much has been made of millennials’ preference for cities. For a long time, the prevailing narrative was that they favored urban spaces relative to the white picket fences of the suburbs. Although there’s been a shift in the narrative as some begin to take a closer look at the millennial urban dynamic, there’s still a view of of, for lack of a better term, of white Brooklyn hipsters.
The world is going mobile. Smartphones are changing the way we communicate, the way we shop and look for information, and remaking entire industries. However, just how prevalent are smartphones across gen-Zers, millennials, and older generations?
The mandate to drive sales and build loyalty among Hispanic consumers holds true across all industries. This is felt acutely in the financial industry. Driven by economic, cultural, and language factors, Hispanic consumers significantly under-index on banking status and financial products usage. This represents not only huge business upside for financial services companies, but also a human opportunity to increase access to historically underserved consumers.
Millennials are young, influential, digital natives. They constantly multi-task, and, yes, also shamelessly take “selfies.” Marketers often paint millennials with a broad brush, yet “The Selfie-Generation” or other narratives are too simplistic to articulate exactly who millennials—and in this case Hispanic millennials—really are.
Hispanics are not just interesting because they’re growing fast, but because they lead the cultural conversation. In our latest in-depth study, Hispanic respondents were 54% more likely to be in the top quartile of cultural openness than total market, and 12% more likely to be in the top quartile of influence. This means that Hispanics are critical cross-cultural influencers. In other words, marketers can think of them as cultural force multipliers.