SCHAUMBURG, Ill. — PanaVista, a Hispanic shopper-marketing agency, conducted a study across three major Hispanic markets to interpret the Latino “path to purchase” at food retail.
The results were revealed yesterday in a pre-summit session at the Path to Purchase Institute’s Shopper Marketing Summit here.
Roberto Siewczynski, Panavista’s executive vice president, business development & strategy, discusses with SN some of the key takeaways on winning multicultural markets.
- Fundamentally we have a different shopper. Whether Hispanics were born in the U.S. or abroad, there are very strong formational “Mercado Undercurrents” in their shopping habits, which stem back to country of origin open-air markets.
- Variety and Assortment is key. If retailers want to be in the shopper’s consideration set, specialized assortment is paramount. “It’s not whether you carry five Goya SKUs but rather all 40 of them” that establishes ethnic merchandising credibility with this shopper.
- In-store tends to trump pre-store. What Latinos may lack in pre-planning for the stock-up trip they more than make up for with their ability to improvise in-store. Retailers also recognize this and thus are constantly rotating merchandising and displays to surprise and delight this shopper.
- The role of technology in the stockup trip is not as evolved as you would expect. Although Latinos have embraced technology and smartphones, manufacturers and retailers are not yet offering solutions that motivate these shoppers to incorporate technology into their stock-up trip.
- Basket size and trip frequency can be increased by developing strategies that result in a fun experience for the entire family. The Latino shopping mindset is a lot more flexible when it comes to time and experimentation. The more retailers embrace this the more they will generate larger and more frequent register rings.
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