New research shows Hispanic millennial shoppers are ‘a driving force’ of US economy

The US Hispanic population includes 59 million Americans, and more than 40 percent are millennials. That means that a wide margin of the $1.5 trillion purchasing power of US Hispanics is controlled by young adults ranging in age from 18 to 32 years old.

“Hispanic Millennials are no longer a small sub-segment of the US economy, they are a driving force,” said marketing technology company Viant in a new report.

Using its proprietary technology to analyze the shopping and lifestyle habits of Hispanic millennials, Viant says that, as consumers, the group is more likely to interact with brands on social when compared to non-Hispanic millennials.

From Viant’s “The Marketer’s Guide to Hispanic Millennials”:

We found nearly 50 percent of Hispanic shoppers reported they had either discussed a brand online with others or used a brand’s hashtag in social messaging compared to seventeen percent of non-Hispanic shoppers.

Analyzing social media habits, Viant says Hispanic millennials are more active on Twitter and Instragram compared to non-Hispanic millennials, but the amount of time spent on Facebook is relatively similar among the groups.

Social media platform usage

Also, while the Hispanic demographic owns smartphones at the same rate as the general population, Viant reports the group spends 25 percent more time on their phones.

“Given Hispanic Millennials affinity for social media and mobile usage, brands who want to connect with this audience should look to these platfroms to promote their message,” says Viant.