Date post: | 23-Jun-2015 |
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How Curacao, the Innovative and Trendsetting Retailer, Captures the Hispanic Market
Jerry Azarkman2
How Curacao Started
Leaving Israel after the Yom Kippur War, seeking the American Dream
3
Vision of the American DreamNothing can stand against my will
4
The Value of $20.00
5
Finding the Niche, the Hispanic Market
6
Door to Door SalesBeing in their Home
7
Learning their Language and Culture
8
The Importance of Family
From their kids to the grandparents, family is very important
9
Customer Referrals
10
Get to KnowYour Customer
11
Learning their needs in Products and Services
12
Finding Products that fit their Cultural Needs
13
Building a Value for our Customers
14
What will make them listen to you?
15
Speak to Their Heart
Helping the Community• Community Assistance
Programs• Tutoring Program–
“Learn to Read – Read to Learn”
• Community Events –“La Feria de los Niños”
• Scholarship Programs• Toys for Guns Program• Image Commercials
16
Speak to Their Mind
Creating a Value• Special Sales• Exclusive Offers• Traffic Builders• Gifts with Purchase• Direct Mail Hard
Sale Offers• Hard Sale
Commercials
17
What is important for this Community?
• Being part of an organization
• Credit• Membership
Programs• Loyalty Programs
18
Building Loyalty with the Hispanic Market
• Always deliver above their expectations.
• Have in-house service for your products.
• Specific Merchandising with high value designed for the Hispanic Market.
• Internal Marketing for loyalty and membership programs.
• Provide Gifts with Purchase.• Create a segmented customer base
and create exclusive events by segments.
19
Building Trust with the Hispanic Market
20
21
Understanding the Hispanic Market
Hispanic Concentration 1990
23Source: Geoscape 2014
Hispanic Concentration Today
24Source: Geoscape 2014
Percent distribution of U.S. Hispanic Population by type of Origin (2010)
Mexican63%
Guatemalan2%
Salvadoran3%
Other C. American,
2.5%
South American
7%
Caribbean16%
Other Hispanic8%
U.S. Hispanic Population by Type of Origin (2010)
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Mexican/ Central American 70.9%Mexican 63.0%Guatemalan 2.1%Salvadoran 3.3%Other C. American 2.5%
South American 5.5%Caribbean 15.5%Other Hispanic 8.1%
Source: U.S. Census Bureau
U.S. Hispanic Population by Acculturation (2013)
• HA1 (Americanizado)– English Dominant (nearly No Spanish)– Born in US and 3rd + generation– Few Hispanic cultural practices
• HA2 (Nueva Latina) – English preferred (some Spanish)– Born in U.S. and typically 2nd generation– Some Hispanic cultural practices and often
“retro-acculturate”• HA3 (Bi-Cultural Hispanics)
– Typically bilingual (equal or nearly)– Immigrated as child or young adult – Has many Hispanic cultural practices
• HA4 (Hispano) – Typically Spanish preferred (some English)– Immigrated as adult and in U.S. 10+ years; – Pre-dominant Hispanic cultural practices.
• HA5 (Latinoamericana)– Spanish dominant (nearly no English)– Recently immigrated as adult (less than 10
years ago)– Primarily Hispanic cultural practices and
identifies with home country more so than U.S. Hispanic.
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HA117%
HA229%
HA326%
HA415%
HA513%
U.S. Hispanic Population by Acculturation (2013)
Source: Geoscape 2014
HA1
HA2
HA3
HA4
HA5
San Francisco/ Oakland/ Hayward
HA1 152,397 HA2 269,745 HA3 284,241 HA4 169,756 HA5 131,666
HA1
HA2
HA3
HA4
HA5
San Jose - Sunnyville -Santa Clara
HA1 91,982 HA2 146,274 HA3 145,470 HA4 92,426 HA5 64,823
HA1
HA2HA3
HA4
HA5
Fresno
HA1 98,807 HA2 137,611 HA3 123,749 HA4 77,439 HA5 59,271
HA1 86,318 HA2 131,847 HA3 113,663 HA4 65,664 HA5 46,910
HA1
HA2HA3
HA4HA5
Stockton / Lodi
HA1 56,493 HA2 87,148 HA3 82,065 HA4 36,348 HA5 27,752
HA1
HA2HA3
HA4HA5
Modesto
HA1 42,587 HA2 71,707 HA3 67,901 HA4 29,663 HA5 22,198
HA1
HA2HA3
HA4HA5
Bakersfield
Hispanic Population by Acculturation per City
27
South GateOpened in 2000
28
Total Pop (5Miles) 853KTot Hispanic: 733KNon Hispanic: 119K
H4 and H5 combined: 292,81634.35 % of TOTAL Pop.
86.03
13.97
Ethnicity Distributionat 5miles
Hispanic %
Non Hispanic%
HA1
HA2
HA3
HA4
HA5
Acculturation
48%
Penetration(195K Accounts)
Santa AnaOpened in 2006
29
Total Pop (5Miles) 722KTot Hispanic: 379KNon Hispanic: 342K
H4 and H5 combined: 160,65622.24 % of TOTAL Pop.
52.5147.49
Ethnicity Distributionat 5miles
Hispanic %
Non Hispanic %
HA1
HA2
HA3
HA4
HA5
Acculturation
12%
Penetration(86.4K accounts)
AnaheimOpened in 2007
30
Total Pop (5Miles) 577KTot Hispanic: 287KNon Hispanic: 290K
H4 and H5 combined: 103,80417.98 % of TOTAL Pop.
49.6550.35
Ethnicity Distributionat 5miles
Hispanic %
Non Hispanic %
HA1
HA2
HA3
HA4
HA5
Acculturation
8%
Penetration(43.4Kaccounts)
Advertising
31
Television and Radio
• Novelas and Television Hosts are big in the Hispanic market, using their talent will create a buzz for your business and bring an endorsement.
32
Gabriel SotoActor
Don FranciscoTV Host: Sabado Gigante
Penelope MenchacaTV Host: 12 Corazones
Jenni RiveraSinger
Edgar VivarActor
Segmentation and Direct Mail
Create Segmentation models on your database.
• Demographics – By Country– By Acculturation– By Credit Utilization– By Behavior– By Appeal to type of
Product– By Membership or Credit
Level– By Date of last purchase
35
Measure your Response
0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5%5.0%
Mother's Day Father's Day Main Xmas
201120122013
36
Social Media and Digital Marketing
37
US Hispanics are Google Users
38
TV is an effective Trigger Search
Hispanics maximize Mobile Media
• 93 % of US Hispanics use a mobile device regularly.
• 53% of US Hispanics use search engines to shop for and gather information on products.
Source: Google 2010, Hispanics 2010. October 2010
Use all types of Digital Advertising at a fraction of the cost of traditional
Advertising
• Facebook• Twitter• YouTube• Pintrest• Instagram• Text Messaging• Email
• Search Engines• Mobile Applications• Social Media
Applications• Online Reviews &
Ratings• Blogs• Forums
Make sure you are Rated Correctly
43
Be Trendy
Don’t be afraid of change
44
Why Companies need to Re-Brand?
From inside and out
45
46
Questions?
47
48