For Hispanic Adult Millennials, it’s cool to be pragmatic. Being smart with their money may be borne of necessity, but they find it fun to be thrifty. Their practicality does have an enemy, however – and that’s convenience. Because they’re often very busy, sometimes they just go with whatever is easiest.
Tr3s discovered this insight as part of its 2012 research study, Hispanic Adult Millennials Living the Next Normal: Age of Uncertainty. The following are some of Tr3s’s key findings about Hispanic Adult Millennials and the conflict between pragmatism and convenience:
Pragmatism is an emotional currency for Hispanic Adult Millennials. This is a core value for this group, who consider ostentatious shows of wealth tacky. Practicality isn’t just about saving cold, hard cash – it brings forth emotions that are both powerful and positive.
Being practical is exciting, allowing Hispanic Adult Millennials to feel superior, smart, and successful. Making a purchase that feels like an educated use of their money can be thrilling. They liken finding deals to leveling up in a video game.
The lure of convenience is powerful enough to derail their pragmatism. Their most important priorities when choosing where to shop are that a store carries what they need and that it’s close to where they live or work. Convenience is like a shiny object that can distract them from their goal of practicality.
For many, good deals can’t be too difficult or time-consuming to attain. Going out of their way to find new stores to shop at is not a priority for many Hispanic Adult Millennials. They are unlikely to travel long distances for a bargain.
Convenience is also a big draw when it comes to food. Bicultural Hispanic Adult Millennials are more convenience-driven than foreign-born Hispanics in their thirties. They are more likely to report that they eat store-made pre-packaged foods often, and that they feel fast food fits their busy lifestyle.
Foods that are both healthy and convenient are highly appealing. Good nutrition is very top-of-mind among Hispanic Millennials, but they’re drawn to fast food because it’s so convenient. They’re strapped for time but like to feel smart about their eating choices – so fast food that’s healthy is ideal. One success story in this area is sandwich chain Subway, which ranked as the fourth coolest thing among Hispanic Adult Millennials in Tr3s’s study. These restaurants are so popular because they merge low cost, healthier food, and convenience.
Source: Tr3s 2012 “Hispanic Adult Millennials Living the Next Normal: Age of Uncertainty”