Dive Brief:
- Winn-Dixie, under its parent company Southeastern Grocers, is transforming five of its South Florida retail locations into Hispanic-focused Fresco Y Mas stores, according to Supermarket News.
- Fresco Y Mas is the latest grocery entrant in a multi-format strategy orchestrated by company CEO Ian McLeod, joining the upmarket conversions of Winn-Dixies in wealthy Jacksonville and Tampa communities.
- Four new stores are opening in Miami and one in Palm Beach, FL, offering Hispanic customers authentic ingredients for their shopping needs.
Dive Insight:
According to IBIS World’s Ethnic Supermarkets in the US: Market Research Report, an increase in the Hispanic and Asian markets is bolstering the retail grocery industry. Specialty stores are responsible for as much as $32 billion annually.
The South Florida area — Miami in particular — is a major gateway for products from South America and Central America. The latest U.S. Census revealed that approximately 25% of the population in South Florida is Hispanic, so it only makes sense that Winn-Dixie would capitalize on the growing ethnic population and open brands that appeal to this demographic.
Grocery analysts agree that as Hispanic populations increase and disposable income improve in line with the economy, a demand for cultural foods will only grow. Others are likely to follow Winn-Dixie’s lead.
