By Lili Gil, Media Contributor & Managing Partner, XL Alliance
How many more reports, research studies and insights packages do we need to validate that Latinos are the most dynamic, vibrant and fastest growing group of shoppers in America? Maybe a walk down Olvera Street or Providence and Pacific Avenue at Huntington Park in Los Angeles is the missing link to turn black and white data into a living reality. After all, the city of L.A. is the epicenter of Hispanic sensibility as a majority minority market with Latinos making up 48% of the population, followed by Asians at 14%. L.A. is already a portrait of the America of 2050…just as New York, Houston, Miami and Chicago are too.
This year’s Hispanic Retail 360 Summit , the premier cross-channel event focused on retailing to the growing Latino market, gave attendees a unique hands-on learning opportunity by putting them inside the shoes of the shoppers in a four-hour cultural immersion tour. Sponsored by GOYA and guided by marketing experts and managing partners of XL Alliance Armando Martin, Manny Fields and Lili Gil; the tour guided hundreds of professionals through the aisles of Food4Less , Ralph’s and Ranch Market while insights came to life with various store footprints, assortment options and the witnessing of shoppers in action. Also a trip to Olvera Street offered a unique experience that transported attenteed to a typical Mexican plaza setting; and a stroll down Pacific Avenue showcased dozens of Quinceañera stores, money transfers and authentic food restaurants that keep hundreds of shoppers browsing, buying and returning!
The tour made evident that nothing beats learning the market than “being in the market.” While many of us may comfortably seat in our offices to read white-papers and reports as we develop our business plans; some of the best learning happens when you see, experience and live the market first-hand.
So next time you think of your next marketing plan, best retailer partner to activate with or promotion to launch; it may be worth taking a ride to the places where your top customers shop!
Lili Gil is cofounder of XL Alliance, business and politics TV media contributor and creator of the online channel Moments2CulturRise. She has also been selected by the World Economic Forum as only one of 190 Young Global Leaders. You can follow Lili Gil on Twitter @liligil. Also subscribe to HispanicAd.com for the latest market news.