• by Jack Loechner , Staff Writer @mp_research, November 3, 2016

According to a new study from Yahoo Advertising and Audience Theory, written by David Iudica, Senior Director, Strategic Insights and Research, Hispanics represent the largest ethnicity in the U.S. at more than 17% of the population, and they are expected to represent 29% of the population by 2060. Hispanics are quickly becoming one of the most coveted consumer groups, with an annual buying power expected to reach $1.7 trillion by 2019.

To help marketers gain a greater understanding of their interests and perceptions, the study partnered with market research firm Ipsos and research partner Audience Theory to survey Hispanics in the U.S., with a specific focus on the third generation, an Hispanic born in the U.S., with both parents also born in the U.S., and at least one foreign-born grandparent

A wide variety of factors influence the third generation’s feelings of cultural connection, says the report. 68% find significant ties to the food they eat or cook, and 55% the traditions, celebrations and holidays they observe. The majority of respondents said speaking Spanish is valuable in America today, but of those who are not bilingual, nearly 40% feel anger at their family for not ensuring they learn Spanish.

According to the report, the most common ways for this group to feel connected to their heritage are through:

• The food they eat or cook    (68%)
• Traditions, celebrations and holidays    (55%)
• Their family name    (45%)
• The way their parents raised them    (42%)
• Their personal ethics and values    (42%)

An increasing number of Hispanics are watching online videos via their smartphones, due to the richness of content and convenience, says the report. Of those respondents who prefer to speak Spanish over English, 94% use their mobile devices to watch video at least once a week, as do 84% of those English-dominant. Further, 72% like to watch online video from multiple devices.

Third-generation Hispanics have specific opinions when it comes to the advertising that reaches them, says the report. Marketers should understand the difference between “Hispandering” and offering a true reflection of cultural realities, says the report, while keeping these insights in mind:

• 54% of third-generation Hispanics actively seek out and/or enjoy online content tailored to them as Hispanic/Latino
• 65% feel there should be more ads in English that speak specifically to Hispanics
• 53% welcome advertising targeted specifically to them as a Hispanic/Latino
• 51% of third-generation respondents believe advertising targeted specifically at them as a Hispanic/Latino does not accurately reflect their experience
• 49% believe advertisers need to do more than simply translate English-speaking commercials

Concluding, Iudica writes “… as the purchasing power for young Hispanics continues to grow, the attention marketers give this audience needs to grow in parallel. For most third-generation Hispanics, their culture and heritage have an important impact on their self-identity, and this, in turn, influences how they view and engage with brands…”

For additional information from Yahoo, please visit here; or from Marketing Charts, go here.