âThe Journey is Better Than the Innâ Miguel de Cervantes
âThe Journey is Better Than the Innâ Miguel de Cervantes
âThe Journey is Better Than the Innâ Miguel de Cervantes
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“The <strong>Journey</strong> <strong>is</strong> <strong>Better</strong> <strong>Than</strong> <strong>the</strong><br />
Inn” <strong>Miguel</strong> <strong>de</strong> <strong>Cervantes</strong>
1. Latest Data<br />
2. Growing Pains<br />
3. Possible Solutions<br />
4. Unique Opportunities<br />
5. Generations X and Y<br />
6. Customer <strong>is</strong> King<br />
Source: 2012 H<strong>is</strong>panic Consumer Insights Team
140<br />
120<br />
130<br />
100<br />
80<br />
60<br />
40<br />
20<br />
50.5<br />
66<br />
0<br />
2010 2020 2050<br />
Population (Millions)<br />
Source: U.S. Census 2010
California<br />
28%<br />
Increase<br />
Texas<br />
42%<br />
Increase<br />
Source: U.S. Census 2010
Source: U.S. Census 2010
1. H<strong>is</strong>panic doesn’t<br />
mean monolithic<br />
2. Rate and <strong>de</strong>gree<br />
of acculturation<br />
3. Trained<br />
Workforce<br />
4. A<strong>de</strong>quate<br />
preparation in<br />
suburbia and in<br />
“non-traditional”<br />
states<br />
5. Product<br />
Integration<br />
6. Corporate<br />
Support<br />
Growing Pains
1. Merchand<strong>is</strong>e to<br />
<strong>the</strong> market<br />
2. Execute on <strong>the</strong><br />
“Universals”<br />
3. Approach labor<br />
as sales driver,<br />
not a cost driver<br />
4. Aggressively<br />
seize <strong>the</strong><br />
opportunity<br />
5. Learn from <strong>the</strong><br />
food shows,<br />
farmers markets,<br />
etc<br />
6. What <strong>the</strong> best in<br />
class are doing?<br />
Solutions
1. Upscale <strong>is</strong> among <strong>the</strong> fastest growing<br />
segments H<strong>is</strong>panic growth<br />
2. Generational Forces<br />
3. No one supplier accounts for more<br />
than 13% of sales<br />
4. Non-H<strong>is</strong>panics crave au<strong>the</strong>ntic<br />
H<strong>is</strong>panic cu<strong>is</strong>ine<br />
5. Mega trends moving into H<strong>is</strong>panic<br />
“wheel-house”<br />
Source: 2012 H<strong>is</strong>panic Consumer Insights Team
1. Generations X and<br />
Y control more<br />
than 60% of all<br />
H<strong>is</strong>panic buying<br />
power<br />
2. Beginning 2017<br />
Gen Y will spend<br />
more than $200 B<br />
annually<br />
3. H<strong>is</strong>panics have a<br />
median age of 27,<br />
10 years younger<br />
than <strong>the</strong> total<br />
market<br />
4. Uniqueness as<br />
consumers<br />
5. Uniqueness as<br />
employees<br />
Generational Forces
1. Zappos<br />
2. D<strong>is</strong>ney<br />
3. Southwest<br />
4. Whole Foods<br />
5. A Differentiated Shopping<br />
Experience<br />
Source: 2012 H<strong>is</strong>panic Consumer Insights Team