Per  Sage Business Researcher by 2060  the Hispanic population will increase 28 % up from 17% in 2014. With this statistic the new generation  under the age of 20 the  Gen Z  generation as they are called, will be the new  consumer group that  marketers  will covet and target. These 12-18 year olds  GenZ Hispanics account  for 23% of the total population and most surprising 93 % of them are US born. This is a very large group of  roughly  83 million people; a marketer’s dream.  Because of their large numbers , GenZ  generation  is  the most ethnically diverse  and will be the last generation with a Caucasian majority  and  the majority of them (55%)  of them were born to millennial parents rather than  the  Gen X’ers. Overall,  both groups  tend to share common characteristics . These are:

    • Cautious, price and value conscious, and avoid debt
    • Entrepreneurial and eager to start working
    • Optimistic about the future
    • Prefer home-cooked meals
    • Are DIYers and crowdsourcers (Hispanics among their family and social network, Gen Z are enabled by technology)

 

On the other hand, the GenZ group have demonstrated several characteristics  unlike  the millenials.

  • They are highly dependent  and connected to their mobile devices (86%) where this dependence has impaired their ability to communicate on a personal level.
  • Enjoy and need instant gratification
  • Most are independent workers.

 

Given that they are the most ethnically  diverse group today, the question is how will  the Hispanic Market be in 10 to 15 years? Although the majority of them are children of the millennial an immigrant generation , will they likely embrace their ethnicity  or will they take part of the larger group? Will  reliance and dependence on  mobile phones affect they way marketers are targeting the group ? These are questions that marketers  where with  heavily Hispanic populations will have to ask themselves.

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