International

Latino Millennials in the U.S. are attracted to products that reflect their culture

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The Latino market has a golden opportunity to enter the U.S. market and supermarket chains. While the pandemic has hit the economy, the new normality might offer new possibilities. Millennials play an important role in this scenario since they are looking for ways to connect with their Latino roots.

Social networks have shown how Millennials often share with others what brings them closer to their cultural backgrounds. An example of this is the video made by a young Salvadoran who calls himself Curly.

His video went viral on Tasty. On that platform, the Salvadoran proudly features his grandmother making El Salvador’s signature dish: pupusas.

Latin products

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More and more Latino products are finding their way into U.S. supermarkets. Previously this was only possible through supermarket chains such as Safeway, Giant, Ralphs or Kroger.

During the “Current events, trends and challenges of retail sales in the United States” Forum, the opportunity to continue positioning Hispanic products in U.S. supermarkets was discussed.

According to Julio Ibañez, President of the Hispanic Retail Chamber of Commerce, Latinos are now more likely to consume Hispanic foods, beverages and products sold in U.S. retail markets.

Latino Millennials

According to the Chamber of Commerce, this group of people is drawn to those supermarket chains that reflect their culture and that of their families.

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Data presented shows that 51% of millennials look for these products in supermarkets. In addition, 57% of Latinos say they are drawn to Hispanic supermarkets because they have products and brands that reflect their cultural tastes.

Today there are 62 Latino supermarket chains in the United States, offering Latinos products from their countries that create a sense of nostalgia for food.

Therefore, the Hispanic Retail Chamber of Commerce recommends creating a different product from what is available in the United States. The only thing missing is the creation of a new mechanisms to facilitate the supply, the demand and the export of nostalgic products, he added.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.