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At the leading edge of retailing…

Discover the untapped potential of the Hispanic market in Oklahoma City. Learn about their consumer patterns, growth, and opportunities for retail and marketing. Presented by José de Jesús Legaspi, The Legaspi Company Marketing/Realty Services.

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At the leading edge of retailing…

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  1. At the leading edge of retailing…

  2. An opportunity to capture, sustain, and evolve.

  3. The Hispanic Market In Oklahoma City, Ok. Presented By: José de Jesús Legaspi The Legaspi Company Marketing/Realty Services

  4. Domestic Emerging Market Over the past 50 years, the U.S. Hispanic population has grown significantly faster than the overall U.S. population… CAGR 4.4% U.S. Pop. CAGR 1.2% Source: Strategy Research Corporation, 2002 U.S. Hispanic Market, Claritas, and The Selig Center for Economic Growth, 2009

  5. Better Business Through Understanding • 80% of Latinos feel that businesses sell better to the Latino market when they make an effort to learn about Latino culture. About 75% of non-Latinos also agree that knowledge of culture is important for businesses, but about 10% of these groups say they “don’t know” about this topic. American DreamMakers. United Way of Greater LA. 2000

  6. Generational Language Preferences

  7. CULTURA CULTURE “The three main building blocks of culture and patterns of behavior, emotion and knowledge. None of them are created afresh with each new generation. Instead, these patterns have histories, very lengthy in the case of Latinos.” Source: David E. Hayes-Bautista The Center for the Study of Latino Health/UCLA

  8. What ties it all-- • Language • Religion • Family (extended)

  9. The generational difference is but one aspect of the diversity of the Hispanic population.

  10. First Spanish language book on both Best seller lists of the LA Times and New York Times… Movies and TV shows testing the market…

  11. Music is part of the Language factor…

  12. Domestic Emerging Market Youthful Hispanic Population • 36.6% of the U.S. population was under 18 years of age in 2007. • 27.6% of Hispanics were less than age 18. • The median age for the U.S. population was 36.6 years. • The median age for Hispanics was 27.6 years. Source: US Census Bureau, 2007

  13. The leading edge in retailing… for the largest domestic emerging market…

  14. Comparative Market Profile • The U.S. Hispanic population: • Ranks 2nd compared with other Spanish speaking countries just behind, Mexico, and above Colombia, and Spain. • Surpassed the total population of Canada. • It is the nation’s biggest minority. • Growing 7 times faster than Non-Hispanics. • Largest proportion lives in the Southwest. • 58.8% is of Mexican descent. • It is the largest Spanish Speaking economy in the World.

  15. Hispanic Market* Source: University of Georgia, Selig Center for Economic Growth and Claritas, 2009

  16. Oaklahoma City Hispanic Population Over 93% of the Hispanic population in the Oaklahoma City area is of Mexican descent.

  17. There are many needs:

  18. Hispanic consumer patterns: Source: Selig 2003

  19. Children’s everything Everything for the home Soft goods

  20. Financial services Electronics, furniture,… Entertainment and everything else…

  21. Binational and multinational trade…

  22. The growth of the Hispanic population • Reached critical size • Complex and diverse • Full of opportunities • True domestic emerging market • Point of no return • Its only constant is the changes and the • evolution that it will experience • No borders • Loyal and conservative in nature • Los Angeles ADI reflects the future of the USA

  23. Place to Gather • Invite not promote • Respect through cleanliness and special cultural home away from home • Will travel far to be at home with all • Communal rather than individualistic • Pride • Aspirational

  24. Next steps: • The Hispanic oriented mall is within a purchasing power base of over $20 Billion dollars. • Re-development • Marketing/event promotions • Leasing

  25. Redevelopment: • Mercado • 70,500 sf micro-business incubator. • Anchor • 200 retailers. • Restaurants • Food/grocery stalls. • Source of specialty tenants • Customer acceptance • Lends uniqueness to the Mall • Potential income of $1.7 million before debt and occupancy costs.

  26. Redevelopment: • Lienzo Charro • Entertainment Anchor • Fits right into the Event centers surrounding the mall. • Increases distance draw. • Culturally relevant and customer sensitive. • Mexican Western Horse Culture • Provides for additional retail tenancy • Versatile Event Venue. • Mexican Rodeo Events • Carnival, circuses, concerts.

  27. Lienzo Charro Mexican Rodeo Arena

  28. Redevelopment: Public Areas • Central court and other secondary areas available for events and special promotions. • Design stage and gathering places • Family lounge • Infrastructure for banners, signs, decorations, promotional materials.

  29. promotions: Marketing/Events/Promotions • Customer attraction and Mall sustainability • Increases market reach for a larger customer base • 3-4 Large events within the mall • Christmas: Posadas, Virgen De Guadalupe. • Springtime: Mother’s Day. • Summer/Fall: Talent Show and Mexican Independence Day. • Weekend Events • Sunday concerts • Weekday Children’s Day. • Sponsorship opportunities • Revenue potential

  30. The Legaspi Company Especially suited for the task at hand…

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