Marketing & Retail
NATSO and the NATSO Foundation provide solutions to truckstop and travel plaza challenges by providing education uniquely tailored to the industry including a number of resources to assist truckstops on marketing and merchandizing.
Marketing 101 tells us the most important thing is to know your customer! As operators, it is crucial that we understand our customers. Importantly, many in the industry have done a better job than others, including myself, in working to better understand the Hispanic shopper. Since the year 2000, Hispanic shoppers have increased spending more than 200 percent and by the year 2017, Hispanic consumers’ spending power is estimated to be $1.7 trillion.
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The majority of customers walk into a store either knowing exactly what they want or planning to look around. For retailers, that means they have two distinct customer types they need to cater to—shoppers and buyers. By understanding each group, truckstop operators can improve customer service, strategize promotions and improve their marketing, all of which can add up to increased profits.
Not only are Hispanics the nation’s largest minority group, they are the fastest growing, according to a 2012 report by the research firm Nielsen. As this segment continues to grow, so will its impact on retailers.
The research firm Technomic reported that by 2060, Hispanics are expected to comprise 31 percent of Americans. Hispanic Americans are a fast-changing population in terms of both demographics and in their needs and desires as consumers, Technomic reported. To stay relevant, retailers, particularly foodservice operators, need to stay current on the expectations of this market segment.
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