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- More options and variety. Retail stores in the U.S., especially malls, offer a much larger selection of brands, styles, sizes and colors compared to Mexican retailers. This gives Mexican shoppers more choices.
- Access to exclusive brands. Some brands are simply not available for purchase in Mexico but can be found in U.S. stores. Cross-border shopping gives Mexicans access to a
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2. Why Laredo Is a Great
Real Estate Market
• Great local Hispanic population
– Hispanics are a marketer’s dream
• Customer base is supplemented by millions
crossing the border to shop
• Local economy is getting stronger
– Retail sales are increasing
– Lower unemployment than other markets
3. The Majority of Laredo’s
Population Is Hispanic
p p
5%
Hispanic
Non-Hispanic
95%
Source: Synovate 2010
4. Laredo is the Most “Hispanic” City in U.S.
Top 10 Markets by Hispanic Population - 2010
Rank Market Hispanic %
1 Laredo 95%
2 Harlingen/Weslaco/Brownsville/McAllen 88%
3 El Paso 78%
4 Yuma/El Centro 65%
5 Corpus Christi 58%
6 San Antonio 54%
7 Fresno/Visalia 51%
8 Palm Springs 46%
9 Bakersfield 46%
10 Miami/Ft. Lauderdale 45%
Source: Synovate 2010
5. Latinos are a Marketer’s Dream
• The “3 L’s”:
– Large population
– Lucrative
– Loyal
6. U.S. Latino Population is Exploding…
Latino Population in Millions
63.9
56
50.5
43.5
35.3
2000 2004 2010 2015 2020
Source: Synovate 2010 /U.S. Census Bureau
7. A Country Within a Country
50.5 million Latinos in U.S.
• Mexico 115.0 MM
• U.S. 50.5 MM
• Spain 47.0 MM
• Colombia 45.2 MM
• Argentina 42.2 MM
• Peru 29.5 MM
• Venezuela 28.0 MM
• Chile 17.1 MM
Source: Census 2010 & CIA World Factbook, July 2012
11. Every 30 seconds, a Latino turns
18 in America
Source: NPR, Latino Mayor May Be A Glimpse Of Things To Come, December 12, 2010
12. Hispanics Driving Growth
• More than half of the
growth in the total U S
U.S.
population between 2000
and 2010 was because of
the increase in the Hispanic
population
– A 43% Increase from 2000
• M
More growth f
th from births
bi th
than immigration
13. Hispanic Population Explodes
• Th 2010 Hi
The Hispanic population count exceeded
i l ti t d d
the Census projections by 1 million
• Growing 4X faster than the total population
14. A Population Trend that Can’t Be Ignored…
2010 2020
16%
20%
Hispanic
14% A-A
14%
Asian 61%
66% 4%
5%
White
Source: Synovate 2010
16. In Texas, the Hispanic Population Will Eclipse
the Anglo Population by 2015
45% 45%
45%
41% 42%
39% Anglo
38%
40%
Hispanic
35% Black
Other
30%
25%
20%
15% 12% 11% 11%
10%
6% 6% 6%
5%
0%
2010 2015 2020
Source: 2008 Texas State Data Center’s Biennial Population Projections.
17. Fountain of Youth?
• Latino population is the youngest of all ethnic
groups
• Mean age by ethnicity:
– Latino
L ti 27.9
27 9
– African American 32.0
– Asian 32.6
32 6
– White 38.6
• Starting their lives as adults
• Household needs changing rapidly
g g p y
Source: U.S. Census
19. Country of Origin for U.S. Hispanics
3% 4%
11% Mexico
9% Central America
Puerto Rico
4%
South American
9% Cuba
67%
Dominican Republic
Others
Source: Synovate 2010
20. Country of Ancestry for
Laredo Hispanics
L d Hi i
Mexico
Other
20%
Note: All other
nationalities
accounted for less
than 0.5%
80%
Source: Census 2000
22. Hispanic Buying Power is Growing Across
the Nation
Projected Growth of Hispanic Buying Power
+50%
$1.5
$
$1 Trillion
Trillion
2010 2015
Source: Center for Economic Growth, The Multicultural Economy,2010
23. Latino Households Spend
Nearly Latinos Spend
$17 Billion $12 Billion
Annually on Household Each Year on Clothing
Furnishings and Equipment
Hispanic Households Spend
$53 Billion
for Food at Home
Latinos Spend Hispanic Consumers Spend
$6 Billion $
$7.5 Billion
Annually on Clothes for Their Kids Annually on Personal-Care
Products
Source: “Latino Consumers: Demographic Patterns and Spending Trends among Hispanic Americans”, 8th Edition, Jan ‘11
24. Latinos Make Fewer Shopping Trips,
But…
But
Shopping Trips per Household
149
143
142
Hispanic - Spanish Preferred Hispanic - English Preferred White Non-Hispanic
Source: Nielsen Homescan®, Total U.S., 52 weeks ending 12/25/2011
25. …Spend More Per Trip
Dollars Per Trip
$52
$51
$47
Hispanic - Spanish Preferred Hispanic - English Preferred White Non-Hispanic
Source: Nielsen Homescan®, Total U.S.; 52 weeks ending 12/25/2011
26. Hispanic Grocery Store Shopping Trips are
More Likely To Be Socially Influenced
y y
• 40% of Hispanics shop
with their immediate
family
– vs. 18% of non-Hispanics
• Hispanics more likely to consider recommendations from
friends or family members when making food purchases
(36%)
– Compared to non-Hispanics (22%)
Source: “Hispanic Path to Purchase”, SmartRevenue & Univision, 07/31/12
27. Satisfying Others Important
• Knowing that others will be
satisfied is the third most
important factor in deciding to
make a food purchase for
Hispanics,
Hispanics behind taste and
flavor
– 59% of Hispanics cite “knowing
others will lik it” as a f t when
th ill like factor h
purchasing a food (vs. 36% of
non-Hispanics)
Source: “Hispanic Path to Purchase”, SmartRevenue & Univision, 07/31/12
28. Hispanics Over-Index in Key Categories
Top 10 Hispanic Product Categories
Purchase Index: Share of Hispanic Dollars Divided by U.S. Household Dollar Share x 100
Rank Category Hispanic Dollar
Index
1 Dried Vegetables and Grains 221
2 Hair Care 154
3 Shortening Oil 152
4 Baby Food 150
5 Women’s Fragrances 149
6 Grooming Aids 144
7 Disposable Diapers 144
8 Family Planning 142
9 Photographic Supplies 142
10 Baby Needs 137
Source: Nielsen Homescan®, 01/02/2011 - 12/31/2011
29. Latinos Make More
Frequent Trips to the
Mall
Hispanic Men Care
More about Fashion
Watches More
Popular Among
Latino
Latinos Like to Consumers
Buy Clothes
Source: “Latino Consumers: Demographic Patterns and Spending Trends among Hispanic Americans”, 8th Edition, Jan ‘11
30. Marketing to Hispanics Increases Revenue Growth
• Study shows that for consumer packaged goods and their
retailers, Hispanic allocation accounts to about 34% of CPG
change in top line revenue growth
• The study analyzed the top 500 overall U.S. advertisers
between 2006 and 2010,
– Including approximately 39 Consumer Packaged Goods
companies and retailers
• including Coca‐Cola, General Mills, Ralcorp, Groupe Danone, Nestlé,
Walmart,
Walmart and Walgreens. Other companies analyzed include Clorox
Walgreens Clorox,
Unilever, Kimberly‐Clark, Target, Church & Dwight, CVS, Hormel,
PepsiCo, Kellogg’s, Diageo, Pernod Ricard, Sara Lee, Fortune Brands,
Rubbermaid, NutriSystem, ConAgra, Campbell’s, Hershey’s, Loréal and
Estée Lauder, among others
Source: Association of Hispanic Advertising Agencies, May 2012
32. Laredo’s (Mostly) Hispanic Residents
Are Shopping More this Year Than Last
Year!
Sales Tax Revenue:
• FYTD Oct-Jul ’12: $25 MM
— $2MM over budget
33. Increase in Sales Tax Allocation
Better Than Larger Cities
g
Sales Tax Allocation For City, Transit And Sports Venue
For December ’11 vs. YAG
13.1% 12.8%
10.3%
6.3%
Laredo Houston San Antonio Dallas
35. Dispelling Key Border Myths
Borders Are:
• High Crime
• Low Income
• High Unemployment
36. Myth: Borders are High Crime Areas
“New data released by the FBI this week
confirm that border cities remain among the
safest places to live in the United States”1
- U.S. Rep. Silvestre Reyes
“El Paso and other cities and towns along the
border are consistently rated among the safest in
the nation.”
- President Obama
1. Note: In reference to the FBI Uniform Crime Report released in May 2011
37. El Paso, Texas Laredo, Texas
• Violent crime rate: 458.3 per 100,000 • Violent crime rate: 495.5 per 100,000
— Comparable to Gresham, Ore. -- — Comparable to Abilene, Texas
458.4 per 100,000 -- 494 3 per 100 000
494.3 100,000
• Murder rate: .8 per 100,000 • Murder rate: 3.9 per 100,000
— Comparable to Sterling Heights, — Comparable to Portland, OR. -
Mich. -- .8 per 100,000 - 3.9 per 100,000)
McAllen, Texas
• Violent crime rate: 222.1 per
100,000
100 000
— Comparable to Garland,
Texas -- 223.5 per 100,000
• Murder rate: 3.7 per 100,000
— Comparable to Elgin, Ill. --
3.7 per 100,000
Brownsville, Texas
,
• Violent crime rate: 312.7 per 100,000
— Comparable to Fullerton, Calif. --
319.2 per 100,000)
• Murder rate: 3 9 per 100 000
3.9 100,000
— Comparable to Portland, OR --
3.9 per 100,000)
Source: FBI Uniform Crime Report released in May 2011 as quoted by Governing.com on “Terror on the Border? Not Exactly.”, May 27, 2011
38. Laredo’s Mean Income is Lower, But in Line
g
with Lower Cost of Living
Index
U.S.
100
National
90 84 Average
• U.S. Mean HH
80 75
Income: $68,259
$ ,
70
60
• Laredo Mean HH 50
Income: $51,380 40
30
20
10
0
Mean Cost of
Income Living
Sources: U.S. Census. 2010 American Community Survey 1-Year Estimates (Including Income and Benefits). Laredo, TX
Cost of Living Index, Areavibes.com.
39. Laredo Unemployment is
g
Below National Average
July 2012
y
• Considerable gains
since rate peaked in 8.3%
October 2009 at 9 3%
9.3%
– Despite small
increases in recent
months
7.8%
National Laredo
Source: Bureau of Labor Statistics, July 2012
40. Being Near the Border
is Good for Business!
Consumer Base Increases with
Shoppers from Mexico
41. 3.7 Million Non- Commercial
Non-
Vehicles
1.5 Million Commercial
Vehicles
2.5
2 5 Million Pedestrians
(Laredo’s Crossings FYTD Oct-Jul ‘12)
Oct-
42. $37 Million in
Bridge Revenue
(Laredo’s Southbound Crossings FYTD
Oct-
Oct-Jul ‘12)
½ Million
Higher Than
g
Budgeted
(Laredo’s Southbound Crossings FYTD
Oct-
Oct-Jul ‘12)
12)
43. Revenue Increases Also Started
Since Last Fiscal Year
Laredo Southbound Bridge Revenues
$43,638,202
An $818K
Increase
$42,820,134
FY Oct ‘09 – Sep ‘10
09 10 FY Oct ‘10 – Sep ‘11
10 11
44. Key “Semana Santa” Shopping Holiday
Shows Increased Traffic Into Laredo
• Over the two-week period in
FY 2012 that includes Holy
Week, CBP issued 88,220
permits (March 28, 2012-April
10, 2012) at the Laredo Port
, )
of Entry
– Compared to the same
two-week period in FY
2011 (April 13 April 26
13-April 26,
2011) when CBP issued
67,927 permits
• This represents a 30%i
ncrease in the number of I-94
tourist permits issued
51. Anecdotal Comment
“Every time my family comes from Mexico
y y y
City, they come to shop. They even come
with shopping lists from all of my extended
pp g y
family. Everybody saves all year just to
come and shop in the U.S.”
p
- A.L. Garcia, Account Executive
52. And Sh
A d Shop They Do!
Th D !
CYTD ’12 They Have Declared
$110 MM in Purchases
Made in Laredo - Sales
Tax Manifestos
Note: Only reflects state funds, does not include local funds that were reimbursed.
Only
Source: State of Texas Economic Development and Tourism Office
53. And They Spend More In Laredo Than
Other Cities
Manifesto Total Sales Amount CYTD ’12 (Millions)
116.8
110.2
Note: Only reflects state
funds, does not include local
funds that were reimbursed
46.3
46 3
39.4 41.8
27.8 31.6
15.9
6.3
BROWNSVILLE EL PASO HIDALGO HOUSTON LAREDO MCALLEN MERCEDES SAN ANTONIO SAN MARCOS
Source: State of Texas Economic Development and Tourism Office
54. Laredo is Robust for Retail Real Estate
• Great Local Consumers
• Visiting Mexicans with
Money to Spend
• Improving Economy
56. #7 on the list of
Bestselling Business Books of 2011
57. Reviewed & Recommended by Forbes, Fast
Company, The Street and BusinessWeek!
p y
Named one of th “T 5 B t B i
N d f the “Top Best Business B k of 2011”
Books f