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Hispanic Consumers in MI Retail

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Many businesses are not sufficiently capitalizing on the Hispanic market, in part because of failed or ineffective outreach initiatives. For these efforts to be successful, organizations require a strategy that takes into account deep understanding of Hispanic family dynamics, cultural nuances, and language barriers. Retail institutions in the music industry would draw a competitive advantage by developing cultural competencies that directly relate to the particularities of the Hispanic community.

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Hispanic Consumers in MI Retail

  1. 1. HISPANIC  CONSUMERS     IN  MI  RETAIL   Mario  Kauachi   Develop  Cultural  Competency     and  Gain  Market  Share    
  2. 2. Presenta0on  Objec0ves   Mario  Kauachi     Ø  Define  key  characteris0cs  of  culturally-­‐competent   marke0ng  and  adver0sing  strategies   Ø  Describe  steps  to  effec0vely  address  cultural   differences  and  overcome  barriers   Ø  Recognize  the  posi0ve  impact  that  beCer  Hispanic   outreach  could  have  for  your  business  
  3. 3. The  Hispanic  Popula0on   •  La0nos  are  the  2nd  largest  ethnic  group  in  the  U.S.  (55M)1     –  2/3  of  the  popula0on  is  U.S.  born,  1/3  are  foreign  born1   –  2/3  are  of  Mexican  origin,  1/3  from  20  other  countries1   –  Average  age  is  27  (vs.  age  42  for  non-­‐Hispanic  Whites)2   –  Almost  30%  of  all  U.S.  Millennials  (ages  18-­‐29)  are  La0no2     •  The  La0no  popula0on  will  grow  faster  than  the  total  U.S.   popula0on,  and  is  expected  to  reach  112M  by  20501   –  One  of  every  four  births  is  a  Hispanic  baby;  by  2050,  it  will  be  more  than  one  in  three3     •  The  buying  power  of  La0nos  is  es0mated  to  be  $1.7  trillion     by  20174       1.  U.S.  Census  Bureau  Popula0on  Projec0ons  2014,  2.  Pew  Research  Center,  3.  Federal  Interagency  Forum  on  Child  and  Family  Sta0s0cs  2012,  4.  Selig  Center  for  Economic  Growth   Mario  Kauachi  
  4. 4. Geodemography   Mario  Kauachi   States  with  >30%     Hispanic  Residents:   •  New  Mexico  47%   •  California  38%   •  Texas  38%   •  Arizona  30%     Over  50%  of  the  total  U.S.   Hispanic  popula0on  resides     in  3  states:   •  California  (14M)   •  Texas  (10M)   •  Florida  (4M)   Other  states  with  over  1M   Hispanic  residents  include   Arizona,  Colorado,  Illinois,     New  Jersey  and  New  York     Source:  U.S.  Census  Bureau  2010  
  5. 5. Mario  Kauachi   “Musica”  in  Hispanic  Culture   •  Regional  Mexican  is  #1  genre  among  Hispanics1   –  Instruments  Include:   •  Norteño:  Bajo  Sexto,  Drums,  Accordion,  Bass   •  Banda:  Percussion,  Woodwind,  Brasswind     •  Spanish  Contemporary  is  #22   –  Instruments  Include:     •  La0n  Pop:  Electric  and  Acous0c  Guitars,  Keyboards,  Bass,  Drums,  Percussion,  etc.   •  Bachata  (Dominican  Republic):  Acous0c  Guitars,  Tres,  La0n  Percussion,     Keyboards,  Bass   •  Reggaeton  (Puerto  Rico):  DJ  Gear,  Keyboards,  Samplers,  Electric  Guitars,  Bass     •  Other  important  Hispanic  music  genres  are:  Afro-­‐Cuban/Salsa   (Cuba),  Merengue  (Dominican  Republic)  and  Cumbia  (Colombia)    1.  Nielsen's  Audio  Today  Report:  State  of  the  Media:  Audio  Today,  A  Focus  on  Black  &  Hispanic  Audiences.  2.  Nielsen  Second-­‐Quarter  Audio  Today  Report  
  6. 6. Mario  Kauachi       “Become  part  of   the  family”   -­‐Esteban  Mon0lla   American  Counseling  Associa0on  Member  and  Director  of  Clinical  Pastoral   Educa0on  at  Driscoll  Children’s  Hospital  in  Corpus  Chris0,  Texas   Hispanic  consumers  will  demand   specifics:  “Do  you  like  the  music  I   like?”,  “Do  you  speak  my  preferred   language?”    
  7. 7. The  Hispanic  MI  Retail  Experience   Is  this  your  store  today?   •  Adver0sements  in  English   through  mass  market  channels   •  Minimal/no  adver0sing   through  popular  Hispanic   channels   •  Store  may  lack  proper   inventory   •  Staff  may  not  engage     La0nos  op0mally   •  Customer  may  exit  with  a   small  cart  or  no  purchase     Opportunity   •  Communica0ons  that  connect   with  Hispanics   •  Adver0sing  through  popular   Hispanic  media     •  Offer/stock  desired   instruments  and  accessories   •  Train  and  staff  for  proper   cultural  engagement   •  Make  the  sale,  sell  more,     gain  a  new  customer     Mario  Kauachi  
  8. 8. How  to  Reach     the  Hispanic  Consumer   •  Local  Marke0ng  and  Adver0sing  Strategies:   –  Territory  Evalua0on   –  Demographics  (Cultural  assessment  —who  is  around  you?)   –  Adver0sing   •  Direct:  Radio,  TV,  Newspaper,  Magazines,  Flyers,  etc.   –  Radio:  94%  of  La0nos  listen  to  radio  (vs.  90%  of  the  general  public)  1   –  TV:  2  major  US  networks  account  for  90%  of  Spanish  programming2   –  Newspaper:  On  average,  La0nos  spend  about  50  min/day  reading  newspaper3     •  Online:  Website,  Online  Promo0on,  Emailing,  Couponing  (Tracking),  etc.   –  La0nos  are  50%  more  likely  to  access  the  internet  through  their  mobile  devices1   •  Insights:  (a)  A  Spanish  version  of  your  English  commercial  will  raise  ad  recall  by  as  much   as  30%,  (b)  Spanish  ads  are  preferred  by  over  50%,  (c)  Commercials  by  Spanish-­‐speaking   talent  will  resonate  30%  beCer  with  La0nos   –  Cultural  Competency  programs  –  Start  with  “Bienvenidos”  on  your  store-­‐front   –  Staff/Call  Center  Training  in  efficient  cultural  engagement     •  Don’t  just  communicate…  Connect     1.  Nielsen  Company,  “A  Look  Across  The  Media:  The  Cross-­‐Plaworm  Report  2013,  2.  Sam  Thielman  “Hispanic  Networks  Bring  In  Auto  Dollars  In  A  Weak  Year  For  Broadcast  Telemundo  And   Univision  Write  Increase”  Adweek  2013,  3.  Hispanic  Fact  Pack  2013,  Adver0sing  Age’s  Annual  Guide  To  Hispanic  Marke0ng  And  Media  2013   Mario  Kauachi  
  9. 9. Mario  Eduardo  Kauachi   Axer  being  raised  and  educated  in  Mexico,  I  worked  in  the  corporate  world  before  dedica0ng  my   career  to  suppor0ng  clients  with  Hispanic  marke0ng.  I  have  a  degree  in  law,  music  business  educa0on,   experience  in  business  management,  and  an  extensive  background  in  music,  marke0ng  and  product   adver0sing.  I  am  also  an  professionally  educated  and  experienced  drummer  and  hand  percussionist   who.  I  have  a  strong  and  varied  skillset  that  allows  me  to  guide  my  clients  towards  strong  business   strategies  and  marke0ng  decisions.       I  created  The  Hispanic  Way  to  advise  clients  who  want  to  access  the     Hispanic  market.  As  an  experienced  musician  and  a  member  of  the     Hispanic  community,  I  can  provide  you  with  real-­‐life  insights     and  exper0se  into  La0no  culture     and  the  wants,  needs  and  demands     of  Hispanic  consumers.     Contact:   The  Hispanic  Way   (512)  900-­‐6087   mario@thehispanicwayconsul0ng.com   linkedin.com/in/mariokauachi