I spent much of the fall attending food retail industry events throughout the U.S., including Groceryshop and the National Association of Convenience Stores (NACS) show in Las Vegas, the International Fresh Produce Association Conference (IFPA) in Atlanta, and the Private Label Manufacturers Association (PLMA) event in Chicago.
I found at least one great lesson or insight for the Hispanic food retailing community at each of these gatherings.
Groceryshop Conference
At Groceryshop, I first saw the new food retail environment, both for the 2024 holiday season and with the new presidential administration.
Sherry Frey, vice president of product insights at NielsenIQ, said consumers are still pessimistic about the overall economy. Still, there is some positive news about their view of the future, which is good news for retailers and brands.
The leading concerns for US consumers continue to be rising food prices, increased housing costs, and the potential for an economic downturn.
When it comes to finances, there’s more bad news, as fewer consumers self-identify as thriving, and more say they’re struggling and cautious. But Frey said this streak of bad news is likely ending, and consumer prospects are much more positive over the longer term.
In fact, last summer began to paint a more positive picture for the food retail sector, especially the perimeter, with the greatest growth in produce, deli, and dairy.
Frey said another positive sign for grocery retailers regarding consumer behavior is stronger growth in “ingredient” categories over “convenient” categories.
This is excellent news for Hispanic marketers, who traditionally promote meal components over ready-to-eat packaged meals.
Related Article: Three Retail Technology Trends for 2025
The National Association of Convenience Stores Show
The NACS conference has traditionally focused on five categories: candy, snacks, beverages (primarily soft drinks and beer, but increasingly energy drinks), tobacco, and petroleum.
The last several years have seen the rise of prepared foods suppliers, with fried chicken (19 vendors), hot dogs (17), Hispanic food like tacos and burritos (14), sandwiches (17), soups (8) and pizza (26) exhibitors featured on the most recent exhibit floor.
This suggests that convenience stores aren’t satisfied with their conventional role of selling higher-priced items to shoppers on the go and want to capture a bigger share of the food budget.
For Hispanics in the food retail industry, this is a word of caution: Convenience stores will be working hard to attract customers, so consider countering those efforts by making shopping at your stores easier.
The Global Produce & Floral Show
The IFPA conference has a long and rich heritage that connects with Hispanic retailers. A significant portion of the attendees are from Central and South America, and the focus is on fruits and vegetables used in Latin cuisines.
The most recent event featured more technology than in previous years, addressing operations for both retailers and suppliers.
IFPA CEO Cathy Burns discussed the transformative impact of artificial intelligence on the industry, from AI-powered self-checkout systems to innovative packaging solutions, and the importance of trust in implementing these technologies.
As previously presented in this column, technology (and AI in particular) is critically important for every Hispanic food retailer to incorporate in their strategic plans.
Private Label Manufacturers Association Event
One of the keynote sessions at PLMA focused on women consumers, who drive 75% or more of all retail sales.
Despite this high ratio, much of the marketing by retailers and brands remains focused on men, and that’s a huge lost opportunity, said Bridget Brennan, CEO of strategic advisory firm Female Factor and author of Why She Buys: The New Strategy for Reaching the World’s Most Powerful Consumers.
She explained that to win the female wallet share, food retail companies must establish an emotional connection with women by inspiring them and making them feel appreciated. While Hispanic retailers do a great job of promoting and engaging women shoppers, it’s clear that more can be done. I’ll be at FMI Midwinter (January 30 – February 2) and the National Grocers Association conference (February 23 – 25).
I plan to share with Abasto readers the latest tools to help you do your jobs even better!