For my International marketing project I chose to focus on how current day industries are striving to meet the need of what we know will be one of the largest market segments in the near future, the Hispanic American youth. Yeah I know it’s an obvious choice, but one that I especially am very passionate about, as I come closer to graduating from HSU I look more and more forward to becoming a professional in my field of marketing. This exact realization is what has made me want to become more conscious of how my Hispanic peers demands will be met by current day industries.
According to a blog by Media Post Titled The Hispanic Youth Market – Too Big To Ignore published in 2009, it is estimated that in 10 years 62% of all teenagers in the U.S. will be Hispanic. That being said it’s salient for companies to begin planning marketing campaigns targeted towards our Hispanic youth.
Our millennial generation of Hispanic Americans is changing how current day marketers formulate their strategies to appeal to what is the most Americanized of all Hispanic market segments prior to generation y. According to the U.S. Census in 2010 about 60 percent of this market is U.S. born. They were those generation y 20-29 year old children who mostly had parents as immigrants. That being said it is easy to see why our influence extends not just to the Hispanic segment, but into the American youth mainstream. Not to mention that we millennials are only the first wave of what is known as the “bébé boom”leading our other native born teens, tweens, and children who will likely be more acculturated than us, those under their 20’s that are at 18 million and growing.
While we still embrace key parts of our culture, especially our families, music and food we have definitely more acclimated to plenty of American values with open-mindedness. I mean lets face it, I have more in common with same generation African Americans, or Asian American than I do with my 37 year old tío Melvin.