While Hispanic Millennials (18-35) have lower household incomes than their non-Hispanic counterparts, they match them in spending, according to a study [download page] from Viant. But where they choose to spend their money differs, per the report.
The analysis, which focused on a population of roughly 2 million Hispanic Millennial consumers and 13 million non-Hispanic Millennial consumers during Q4 2016, found that JCPenney is a favorite among young Hispanics.
In fact, not only are Hispanics Millennials 26% more likely than their non-Hispanic counterparts to shop at JCPenney, but they also outspend them by 10%.
And while Hispanic Millennials also are more likely than non-Hispanic youth to shop at Nordstrom (+26%) and Macy’s (+10%), they reserve their largest quarterly spending for JCPenney.
Overall, during the fourth quarter, Hispanic Millennials averaged $146 in spending at JCPenney, compared to $132 at Macy’s, $83 at Kohl’s and $59 at Nordstrom.
Hispanic Millennials Spend on Amazon, Just Not As Much As Others
Notably, Amazon receives more spending dollars from Hispanic Millennials than any of the above-mentioned department stores, with a $207 average.
In fact, 1 in 5 Hispanic Millennials shops at Amazon, and these youth shop at Amazon 60% more often than they do at Nordstrom.
Even so, non-Hispanic Millennials are 39% more likely to shop at Amazon, spending 12% more there on average.
Sephora & Ulta Beauty Matched in Spend
The report reveals that Hispanic Millennials spend more on a quarterly basis at some beauty stores than they do at department stores such as Nordstrom and Macy’s.
All told, Hispanic Millennials average just over $100 ($102) in quarterly spending at both Sephora and Ulta Beauty, per the study. For Sephora, that’s about $8 less spending than non-Hispanic Millennials.
The full report is available for download here [download page].