The Shelby Report, March 2014
Hispanic grocers and those stores that cater to the Latino population have long been a powerful force in Southern California. Their market share is likely to continue to increase as the Latino shopper shapes the retail landscape.
Latino Millennials, specifically, is the cohort to watch, according to Subriana Pierce, managing partner of Navigator Sales and Marketing, a niche consulting and brokering organization that provides client solutions for navigating the food industry. She tells The Shelby Report that Millennials, and in particular Latino Millennials, will change the way brands and retailers across the board go to market.
Pierce points out that Millennials are the most ethnically and racially diverse group of youth in the nation’s history.
“We have to be prepared to market to this important cohort,” she says. “You can’t plan a multicultural program without thinking of the importance of the Millennial. U.S.-born Millennial Latinos are driving the Hispanic growth trends in the U.S. as they will represent 80 percent of the 18- to 29-year-old U.S. population growth by 2015.”
Additionally, the majority of the U.S. Latino population remains young, with more than 60 percent of the population under age 35 and 75 percent under age 45.
In California, 51 percent of children under 18 are Latino, says Pierce, citing the 2010 U.S. Census.
She reveals that Millennials have a different focus than their Baby Boomer parents.
“They want to stand out and be noticed,” she says. “They want to do good in the world. They want to get ahead while embracing a working-class moral compass. They are becoming more educated and affluent. Latino college enrollment grew 20 percent in 2011. Latinos are the most influential segment since the Baby Boomers and will drive shifts in category consumption and brand relationships.
“….We have to make sure as brands and retailers that we are listening and responding to the needs of this cohort,” she adds.
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