Mexico will be the fastest-growing e-commerce market in Latin America over the next five years. Fitch Solutions predicts average annual sales growth of 14.6% year-over-year from 2018 to 2022, driven, in part, by Mexico’s favorable consumer demographics, who are young ambitious and becoming more affluent.
2018 has been an eventful year for Hispanic grocery stores. We saw Bodega Latina expand to Texas with an acquisition of Fiesta Mart, Winn-Dixie’s Fresco Y Más concept grew in Florida, and Albertson’s El Rancho Supermercado officially entered the Houston market. Acquisitions and consolidations have been accelerating at a break neck pace the past several years and they will continue to in 2019. But what is driving this trend? Understanding the underlying drivers of these acquisitions and consolidations in the Hispanic grocery store space can help us see what the future of Hispanic grocery holds in 2019.
“Milestones” were the hallmark of 2018 as consumers weathered the highs and lows of another eventful year in America. Snowboarding icon Shaun White shred major powder on the men’s halfpipe to earn America it’s 100th Winter Olympics Gold Medal. African-American girls, clad in their Sunday best, sipped tea to salute the first African-American woman to become British royalty. And most recently, the midterm elections, coined the “most expensive” and “most watched” captivated the country in an epic battle for congressional seats and equality. In our final report of the year, ThinkNow Snapshot: 2018 Total Market Markers & Milestones™, we highlight some of the major shifts in trends that impacted economic outlook, holiday spending, and digital media use.
MarTech companies have been focusing on incorporating datasets outside of traditional marketing data to create a more robust identity of a target consumer. With the rapid evolution of MarTech this past year with blockchain, AI and machine learning—what’s next? 2018 has been an exponential year of evolution for MarTech. Blockchain, AI, and machine learning have enabled MarTech to process and make sense of more data than ever before. On a high level, MarTech companies have been focusing on incorporating datasets outside of traditional marketing data to create a more robust identification of a target consumer from web, call centers, point of sale, social, television, and print.
You’ve seen the data. The demographics show more dots on the map and purchasing power is tipping the scale. Your company, however, is still struggling to get a real multicultural marketing strategy off the ground. But, you’re not alone.
With its ongoing investment in original content, Netflix continues its dominance over traditional broadcast and is slowly but steadily disrupting the reign of large movie studios. Expected to spend $13 billion on original programming this year, Netflix clearly has no plans to slow down. In fact, our most recent study highlights its meteoric rise across the total market, noting the viewership gap between live TV and Netflix is becoming significantly narrower (6 points in 2018 vs. 23 points in 2017)
While we’ve all been told that attending industry conferences are an “investment”, the reality is, conferences often seem more like an expense than a value-add. From registration to the plane ride there and back, time away from home, and the mountain of work piling up, conferences cost. So, as attendees, we go in with an “ROI mindset,” meaning, we’re asking ourselves, “how can I make this payoff.” So, armed with a conference badge and a stack of business cards, we jump into the endless sea of small talk. But recently, I had a different experience.
According to our most recent retail study, this holiday shopping season is predicted to be a real clash of the titans as Amazon and Walmart fight for the top spot in sales. From Walmart investing more in its online shopping platform to Amazon continuing to invest in its brick-and-mortar expansion, the two retail giants are battling it out. Unlike last year, Walmart, although by a small margin, topped Amazon this year, pulling ahead as the top retail destination for holiday shoppers this season. More consumers said they would shop at Walmart and Kmart this year compared to one year ago. The close of Toys “R” Us may be a contributing factor to this. So what can retailers learn from Walmart’s battle with Amazon?
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Women’s entrepreneurship is thriving in America. According to the 2018 State of Women-Owned Business report commissioned by American Express, 1,821 women-owned businesses were launched per day over the last year, bringing the total number of women-owned firms to 12.3 million, employing over 9 million people and accounting for $1.8 trillion in revenue. So, in these last few days of October, as we wind down the celebration of National Women’s Small Business Month, we are still reminded of the tremendous contributions women business owners have made to the global economy, but also charged with challenging the antiquated mindsets and inadequate policies that still plague our cause.
Why do marketing creatives and data scientists often seem to be at odds, even though their objectives are ostensibly the same? As a market researcher with a marketing background, I’m always excited to share the results of our latest studies with creatives. But my excitement is often quashed once a data point doesn’t mesh well with the creative’s point of view or hypothesis. This doesn’t have to be the case. In fact, it’s important to address any apparent discord between the two roles, as both are vital to brand marketing. Because how can you market effectively to a group of people you know nothing about?