This week the team behind the Hispanic Millennial Project - Sensis and ThinkNow Research – will be presenting an in-depth overview of the first two waves of this groundbreaking research into Hispanic Millennials. But this presentation won’t be taking place in Miami, New York, or even our home base of Los Angeles. Instead, it will be taking place in Atlanta, GA.
Atlanta is not a market that comes to mind when most marketers think about young Hispanics or the future of Hispanic marketing. However, it should. Here is why.
The Fastest Hispanic Population Growth in the U.S. is happening in Emerging Markets Like Atlanta.
From 2000-2013, Atlanta’s Hispanic population has increased by 127%, topping 750,000. It is expected to continue its rapid growth through 2020.
The Hispanic Millennial Population is Growing Fastest in Markets like Atlanta
Atlanta is representative of other Southeastern markets that will see the fastest growth of Hispanic Millennials. While Hispanic Millennials represent the majority of the millennial population in traditional Hispanic markets like LA and Miami, they will see the fastest growth in markets like Atlanta. In fact, the population of Hispanic Millennials in Atlanta is forecast to increase by 24% from 2013-2018.
Atlanta is the Model of New Bifurcated Hispanic Market
Growth of the Hispanic population in Atlanta is being driven by Hispanic immigrants who are younger and largely Spanish speaking (Spanish-dominant and -preferring Hispanics make up 39% of Atlanta’s Hispanic population). Most of these younger, Spanish-speaking Hispanic immigrants are Millennials. This is a very different Hispanic demographic makeup than in the mega-markets like New York and Dallas, whose growth is coming from U.S.-born Hispanic Millennials. Markets like Atlanta are emblematic of new “minority” immigrant-driven Hispanic population centers, where a multicultural, or ethnic-specific approach to Hispanic marketing will prove to be most effective (vs. the Total Market or cross-cultural models now being debated).
Atlanta Is an Ideal Test Market for New Hispanic Marketers
Atlanta is also perfect “test” market for newer Hispanic marketers, checking off all the key criteria of an optimal test market:
- Similarity to eventual desired markets – with Hispanics making up 17% of the total U.S. population, markets like Atlanta provide a nice proxy (Hispanics make up 12% of Atlanta’s population)
- Geographic isolation – a good test market isolates variables, particularly exposure to advertising. Markets like Atlanta are isolated from other Hispanic population centers.
- Affordable advertising media – Avoiding large expensive markets like LA and New York is important. Spanish language media options in Atlanta are much more cost effective
The Hispanic Millennial Project provides a unique look into the intersection of key growth trends in the Hispanic market, segmenting Hispanic Millennials by U.S.-born and Foreign-born and providing insights into this key demographic driving growth in markets like Atlanta.
If you’re in the Atlanta area, make sure to register and attend this free event taking place on Wednesday October 15th, right in the heart of where it’s all happening!