The Future of Hispanic Retail in the 2020s

It seemed distant, but we have reached a new decade (2020) in a totally globalized world and at dazzling speeds in terms of evolution and changes in many industries. How will Hispanic retail behave?

Retail is one of the industries that experience faster changes and remains in constant evolution. Several aspects of retail such as store management, distribution centers, purchasing departments, negotiations, and assortments will change and we must stay alert and adapt.

Our clients have also evolved, even faster than retailers themselves. Now we have much smarter consumers mainly because of the omnichannel “bombardment” that they regularly face.

The main reason for the birth of the Hispanic Retail Chamber of Commerce (HRCOC), which I have the honor of presiding during its launch, is to unite all Hispanic retailers in the United States to face all these challenges that lay ahead in the new decade. Working in liaison with all the Hispanic retailers will be the key to achieve success and rival the “big players” of American retail.

United we are stronger, it is the motto. When I speak of unions, I don’t mean mergers and sales processes between supermarkets. On the contrary, the independence of each of the chain stores must be maintained, as well as their corporate vision.

Related Article: Hispanics Are Key to The Future of Retail Grocery Market

This union goes beyond the company or supermarket we represent and means that as Hispanic Retail Chamber we act under the umbrella and on behalf of all U.S. Hispanic retailers in key issues in our industry.

Together we can be stronger in the following:

  • Administration & Official Organizations: As HRCOC we are representing thousands of Latin stores and looking for a common interest in all of them.
  • Suppliers: Negotiating entire ranges of products, specializing in fresh and organic products, boosting our private brands that identify each grocery chain with its own brand. All of this without sacrificing quality or prices. For small businesses, with less than five stores, working a global brand, but with the seal of quality product of Hispanic retail.
  • Digital transformation: Consolidate our physical stores but also be present with an online service.
  • The professionalism of associates: Promote academic training in Hispanic retail to help create our leaders of the future.
  • Logistic capacity: Through Hispanic retail purchasing centers spread throughout the territory.

In short, union and organization will be the key to this new decade to continue growing and achieving the common objectives of Hispanic retail in an increasingly competitive market and with less room to make mistakes.