Maximizing Hispanic Market Opportunity to Fuel Total Growth
Hispanic millennial moms are more likely than white, non-Hispanic moms to cook from scratch, but the former do turn to prepared foods in case of “emergencies.” Given the hectic pace of millennial moms in general, it’s understandable that these “emergencies” are occurring with increasing frequency. That’s one notion that retailers and marketers should give consideration to, according to Carlos Santiago, president and chief strategist of the Santiago Solutions Group, a strategic growth consultancy based in Burbank, Calif., who presented at the recent Hispanic Retail 360 show, sponsored by Stagnito Media.
Total market growth hinges on “double plays,” says Santiago, where “connectors” and “nuances” come together. Connectors are themes common to millennial Hispanics, such as family dinner, traditional dishes and fresh, healthy ingredients.
Nuance is taking the elements of some of those connectors and adding or expanding, not taking away from the traditional, but perhaps spinning it a bit. Rice, for example, might be replaced by quinoa or couscous in what is otherwise a traditional dish. If we take a mainstream view, we can see how potato chips and dip have been replaced by pita and hummus, or tortilla chips and guacamole. Nuance also comes into play with convenience foods, which Santiago Solutions research indicates resonate with Hispanic millennial women if the products are of good quality and taste, and that her family can’t tell she didn’t prepare the food herself.
Retailers have an opportunity to drive the double plays by communicating their connectedness to the family meal; helping provide solutions and planning around meals?not just with ingredients for a more convenient meal, but with prepared meals themselves; and acknowledging the rising popularity of Hispanic cuisine across the entire population and how that might affect acceptable new approaches to traditional family dishes.