Will the Hispanic supermarket thrive in the U.S? We are here to find out.
Back in the ’70s and ’90s, door-to-door direct selling was trending, but with the arrival of the internet, many thought leaders predicted that this practice would we be eradicated.
They also predicted the mass shutdown of brick and mortar stores throughout the United States once e-commerce businesses started to become more popular.
This has not happened. On the contrary, direct selling has grown. E-commerce has brought us better brick and mortar stores, and they seamlessly complement each other. The closer we are to the customers that buy our products, the better we understand their needs. This phrase summarizes what Direct Selling is.
Is the Future of the Hispanic Supermarket Doomed?
If you are a Hispanic retailer, that is what you need to be doing. This is how we differentiate from the big retailers in this country.
Just like the prediction of the end of the brick and mortar stores, the same has been speculated about the future of small and medium-sized supermarket companies in the United States, including the Hispanic supermarkets in the retail sector.
These speculations state that in the near future, there will be no reason to go to a medium-sized Hispanic supermarket, as the big retailers will offer the same products at lower prices. And unbeatable delivery times will be another factor.
Let me play the role of a futurologist to tell you that our the Hispanic supermarket industry is not going to disappear at all.
On the contrary, the Hispanic retailer will enter a consolidation phase that will put it on the map as one of the more important pillars of the Retail industry in the United States.
The Hispanic supermarket has the best tools to compete with the big players in the industry. This tool is the cultural knowledge and preferences of the Hispanic community.
Every time a customer visits your store, make it a unique and memorable experience for them. Offer fresh products always in good condition. Make sure aisles are fully stocked and adequately labeled.
To compete in the online channel, there is an endless number of tools that will make small and medium retailer compete side to side with the big retailers. Whether it is delivery times, pricing, customer service, the knowledge we have about the Hispanic community is unique to Hispanic supermarket, and the customer knows and will sense that.