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1、1About ThinkNOW2016,2018&2020ThinkNow is an award winning,minority-owned full-service,market research firm dedicated to researching consumers and discovering the cultural drivers behind their decisions.We recognize the unique value,significance,and opportunities that diverse groups represent for con

2、sumer-focused organizations aiming to expand or enter new markets.For over 15 years,we have analyzed and researched the dynamic shifts in demographic trends to help organizations succeed.We are committed to clear communication and actionable insights that drive effective problem-solving.ThinkNow own

3、s and operates DigayG,one of the largest U.S.Hispanic online panels.This provides ThinkNow with direct access to the U.S.Hispanic market and unparalleled insights,a crucial factor in delivering impactful and culturally relevant research.23The U.S.has always been a beacon for immigrants.The countries

4、 of origin have changed over time but the dream of making a better life in America is renewed with each passing generation.Over the last fifty years or so the greatest volume of immigrants to the U.S.have come from Latin America.Initially the greatest proportion of Latin American immigrants came fro

5、m Mexico,then from Central American and more recently South America.This sustained wave of immigration and higher-than-average birthrates is changing the demographic makeup of the country.This report seeks to identify those changes and a paint a portrait of the current Hispanic market.4The terms“His

6、panic”and“Latino/Latina”are preferred by the majority of Hispanics across different scenarios in particular,when they or others(i.e.media,companies)refer to this population as a whole.Latinos are most likely to use their country of origin(i.e.Cuban,Mexican)when other Hispanics ask what race/ethnicit

7、y they are.Source:ThinkNow Culture Report 2020,Hispanics(N=501)PREFERRED NAMES FOR VARIOUS SCENARIOSThe Hispanic COMMUNITY today35%31%35%36%38%43%28%25%26%26%30%26%14%24%16%13%9%10%7%10%8%8%6%7%5%4%6%8%5%4%5%3%4%4%7%4%3%3%4%2%2%2%4%2%4%4%3%3%When other non-Hispanics ask what race/ethnicity you areWh

8、en other Hispanics ask what race/ethnicity you areWhen describing yourself in a casual setting(social gathering)When describing yourself in a professional setting(job,interview,etc.)To use when describing or naming all people of Spanish or Latin American heritage in the USFor the media/companies/bra

9、nds to use when describing/naming all people of Spanish or Latin American heritage in the USHispanic Latino(a)My country of originMy country of origin+AmericanAmericanLatinxChicano(a)Does not matter575%of Hispanics say they can carry a conversation in Spanish,84%can carry a conversation in English.S

10、ource:Pew Research Center National Survey of Latinos Aug 1-14,2022The Hispanic COMMUNITY today34695793753rd generation2nd generationU.S.BornForeign BornAll Latinos%of Hispanic Adults Who Speak Spanish510124032English not at allEnglish not wellEnglish wellEnglish very wellSpeak only English%of Hispan

11、ic Adults Who Speak English84%6The Median Age for Hispanics is 30 vs 44.5 for NH-WhitesSource:US Census:Projection 2022.*AA,Asian,Mixed and White in chart exclude Hispanic.The Hispanic COMMUNITY today44.535.537.2301NH WhiteBlackAsianHispanicHispanics are the youngest ethnic group in America.741%of t

12、he U.S.Population is Multicultural.But younger Americans are more likely to be Multicultural of which half are Hispanic.Source:US Census:Projection 2022.*AA,Asian,Mixed and White in chart exclude Hispanic.The Hispanic COMMUNITY today26%22%18%10%14%14%12%10%6%7%7%5%6%4%2%2%49%54%60%73%0 TO 20 YEARS21

13、 TO 39 YEARS40 TO 59 YEARS60+YEARSUS RACE/ETHNICITY*BY AGEMixed Race&Other849.5M Immigrants live in the U.S.,the most in U.S.history.Immigrants Comprise 15%of the U.S.population,exceeding the previous high of 14.8%in 1890.Sources:https:/www.migrationpolicy.org based on U.S.Census Bureau 2010-22 Amer

14、ican Community Surveys(ACS),and 1970,1990,and 2000 decennial census;and Campbell J.Gibson and Emily Lennon,Historical Census Statistics on the Foreign-Born Population of the United States:1850 to 1990“and https:/cis.org/Report/October-2023-ForeignBorn-Share-Was-Highest-HistoryThe Hispanic COMMUNITY

15、today2.24.15.66.79.210.313.513.914.211.610.39.79.614.119.831.140.044.945.346.249.59.713.214.413.314.813.614.713.211.68.86.95.44.76.27.911.112.913.713.613.915.002468101214160.010.020.030.040.050.060.0123456789101112131415161718192021Number of Immigrants and Their Share of the Total U.S.Population,185

16、0-2023Foreign-born number in millionsShare of population1850 1860 1870 1880 1890 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2019 2021 2022 202352%of all immigrants are from Latin America49.59Immigration is compensating for the falling U.S.birth rate.Source:CDC Vital Statistics 2006-

17、2022The Hispanic COMMUNITY today1.601.701.801.902.002.102.2020042006200820102012201420162018202020222024U.S.Fertility Rate 2006 to 2022 Currently 1.67 Births per Woman though Latinas average 1.92.1Births Per Woman Needed to keep Population Stable10The population of White Americans is decreasing by 5

18、00K a year while the Hispanic population is growing by 1M a year.The Hispanic COMMUNITY todaySource:U.S.Census Bureau Population Projections 2023-2060-7,48,000-28,79,000-61,78,00029,93,00080,13,0001,30,55,0008,48,00022,22,00034,81,00011,61,00030,97,00049,60,0008,23,00022,87,00038,55,000Population Pr

19、ojection 2022 to 2035By EthnicityNon-Hispanic WhiteHispanicAfrican AmericanAsianTwo or More&Other2025203020351163.5 Million or 19.1%of Americans are Hispanic.Source:U.S.Census CPS 2023.Table 2.Population by Sex,Age,and Hispanic Origin Type:2023 The Hispanic COMMUNITY todayApproximately 1M new Hispan

20、ic immigrants arrive each year.MexicoCentral AmericaPuerto RicoMixed&Other Hispanic South AmericaCubaDominican Rep.TOTAL HISPANIC POPULATION COUNTRIES OF ORIGIN38.4M7.2M5.6M2.3M5M2.6M2.8MBut Most New Hispanic Immigrants Are Not MexicanCaribbeanC.AmericaS.AmericaOtherMexico202120222023106,994138,7231

21、38,723271,068398,262330,820https:/ohss.dhs.gov/topics/immigration/adjustment-status-report PERSONS OBTAINING LAWFUL PERMANENT RESIDENT STATUS BY COUNTRY OF NATIONALITY:FISCAL YEAR 2021-2023*Caribbean includes Cubans,Dominicans and residents of Puerto Rico who are already U.S.citizens but moved to th

22、e U.S.mainland during this period.12While Hispanics are now moving to all parts of the U.S.,70%still live in these 7 states:Source:United States;US Census Bureau;2022The Hispanic COMMUNITY todayNew YorkCaliforniaArizonaTexasFlorida15.73 million3.87 million2.39 million12.07 million6.03 millionIllinoi

23、s2.30 millionNew Jersey2.03 million13As of 2022,the largest share of Texas population is Hispanic,joining California and New Mexico.Source:United States;US Census Bureau;2022The Hispanic COMMUNITY todayHouston Metro Areas Leads Nation In Hispanic Population Increase1,38,016 1,51,895 1,64,781 1,69,76

24、8 1,70,456 1,84,000 2,07,038 2,22,674 2,33,079 3,63,169 Cook County,ILDallas County,TXOrange County,FLSan Bernardino County,CABroward County,FLBexar County,TXRiverside County,CAMaricopa County,AZMiami-Dade County,FLHarris County,TXLargest Population Increases for counties2010-2020+The population of

25、Texas is now 40.5%Hispanic,38.9%White,11.5%Black and 5.4%Asian14Hispanic buying power is outpacing U.S.market growth.Hispanic spending is bigger than Canadas economy and growing.18.8%have college degrees.3.8 people per household vs.3.2 U.S.average.Median HH income is$62,800 which is higher than Afri

26、can Americans($52,860)but lower than the national average of$74,580.Source:Selig Center for Economic Growth,“The Multicultural Economy Report”,Jan 31,2023Hispanic consumers202020242026Hispanic Buying Power 2020-2026And%of Total U.S.$1.95 Trillion$2.3 Trillion$2.76 Trillion11.1%11.6%12.1%Hispanic spe

27、nd growth rate 8.6%U.S.spend growth rate 5.5%Source:Nielsen Hispanic Consumer Report 202315Hispanics are nearly twice as likely to say that that their financial situation(both personal and family)will improve compared to 2023.Letter indicates significant differences at 95%confidence level.Hispanic c

28、onsumers9%12%F9%7%14%17%21%C22%C33%D22%49%CDF36%D44%EF49%EF21%35%EHispanicsAfrican-AmericansAsiansN.H.WhitesBetter than2023About thesame as2023Worse than2023I dont know77%of Hispanics say 2024 will be same or better than 2023Hispanic identity16Hispanics Are Optimistic.Source:ThinkNow Hispanic Consum

29、er Attitudes Survey63%43%43%51%HispanicAsianBlackWhiteSatisfied With Current Life66%53%61%51%HispanicAsianBlackWhiteOptimistic About The Future Hispanic optimism needs to be considered when designing research studies.High optimism causes Hispanics to“live life in the moment”more than other groups.17

30、Source:ThinkNow Cultural Values SurveyHispanic identityEducation Family Unity(2.04)Surrounded by Friends&Family(2.54)Respect for Elders(2.64)Generosity(2.81)Control over Destiny(3.55)Control over Time(3.50)Religion(3.29)Community with Other Hispanics(3.66)Equality of the Sexes(3.54)Cultural Values a

31、ffect how Hispanics relate to each other and the U.S.as a whole.Forded Choice Rank:Which one of these cultural values is most important to you personally?21+RespondentsAside from these generally accepted values,Hispanics are less likely to value Financial Success than other groups and more likely to

32、 value EducationHispanics value family,especially the unacculturated,since family is often their only support system.Control over Time or Destiny are ranked low because Hispanics are more likely to believe in fate.18Hispanic identityHispanic Millennials embrace themes commonly expressed in American

33、pop culture such at Freedom and Equality.Source:ThinkNow Millennial Project Wave 5Respondents are 21+82%77%76%68%79%69%79%72%76%64%74%64%76%71%77%71%Everyone should have thefreedom to pursue theirdreamsI believe that everyone canachieve their dreams if they tryhard enoughEveryone deserves to betreat

34、ed equallyI believe that I have controlover my futureHispanic MillennialsNon-Hispanic White MillennialsAsian MillennialsAfrican-American MillennialsPlease rate how much you agree or disagree with the following statements.(Top 2 Box Agreement)19Fitting in with the mainstream is important,butArrow ind

35、icates significance at 95%CL.Hispanic identitySource:ThinkNow Millennial Project Wave 5Respondents are 21+51%29%48%59%40%55%Hispanic MillennialsNon-Hispanic White MillennialsHispanic Millennials US BornHispanic Millennials Foreign BornHispanics 35-64 US BornHispanics 35-64 Foreign BornHow important

36、is it to you to fit in with the mainstream?Top 2 Box Agreement20So is standing out as a LatinoHispanic identitySource:ThinkNow Millennial Project Wave 5Respondents are 21+68%66%73%43%70%Hispanic MillennialsHispanic Millennials US BornHispanic Millennials Foreign BornHispanics 35-64 US BornHispanics

37、35-64 Foreign BornHow important is it to you to stand out as a Latino?Top 2 Box AgreementMulticultraulMarketing Outlook forMarketing L21ThinkNow was curious to know whether the Supreme Courts recent decision to end affirmative action for college admissions,increased scrutiny of diversity,equity and

38、inclusion(DEI)initiatives in Corporate America,and public boycotts of certain companies due to their LGBTQ+marketing strategies were influencing how companies approach multicultural marketing.To gather these insights,we conducted a brief survey among corporate decision-makers to get their perspectiv

39、es on the matter.Multicultural marketing survey22Survey MethodOnline SurveyRegional CoverageNationalField TimingJanuary 19 February 12,2024Screening CriteriaSelf-identifying as a Multicultural Marketing or Multicultural Consumer Research Decision MakerBase SizeN=9123Two-thirds of respondents said th

40、eir companies plan to spend the same or more than they did in 2023 on multicultural marketing efforts in 2024.Thinking about your companys multicultural marketing budget in 2024,would you say it plans to spend about the same as 2023,more or less?Trends from marketers to consider14%18%37%31%Dont Know

41、Less than 23More than 23Same as 2368%Source:ThinkNow Marketing Decision Makers Study 202424Close to one-third of organizations plan to spend more on multicultural marketing this year compared to 2023.The driving factor is the opportunity for growth in the face of demographic changes.40%of respondent

42、s who plan on increasing multicultural spend this year plan to do so because of the increasing economic importance of multicultural consumersWhat specific factors are driving this decision?Are there particular multicultural segments gaining higher priority?Base:Multicultural Marketing Budget in 2024

43、-More than 23Trends from marketers to consider“Audience business opportunity,cultural influence,growing audience representation and impact.”“More budget available to multicultural marketing.Hispanic has historically been a priority.Were on the journey to increase focus with African-American and othe

44、r cohorts.”“Changes in demographics,economy,inflation,climate change,disruption technologies,etc.”“Growing diverse consumer impact on business and sales.”“Growing importance and purchasing power of the multicultural audience.”Source:ThinkNow Marketing Decision Makers Study 2024251-in-4 Marketers ind

45、icate that their organization has changed the way it approaches multicultural marketing in 2024.Trends from marketers to considerSource:ThinkNow Marketing Decision Makers Study 202424%60%16%YesNoDont knowHas your company changed the way it approaches multicultural marketing such as revised ad campaigns,changed targeted outreach,or updated internal training around DEI or another similar program?Feel freeto reach out.Greg DelacySenior Managing Director,Global Sales818-843-0220