ICE Raids Have Sent Latino Shoppers Into Hiding and Big Brands Are Hurting [View all]
Source: WSJ
Coca-Cola has long looked to Hispanic consumers for sales growth—a group the company has said holds an annual $2.1 trillion in spending power. Now Coke and other brands are discovering what it means to lose them.
Fear and uncertainty are driving changes in shopping behavior. The Trump administration’s sweeping deportations of immigrants living in the country illegally have made many Latinos—including those with legal status—fearful of being stopped by immigration officers. Many consumers say they are retreating from public life, forgoing their regular shopping trips and restaurant meals. Beyond deportation fears, job losses in industries like construction have left Hispanics with less money to spend. And inflation has squeezed their monthly budgets.
The issue has grown increasingly tense after Immigration and Customs Enforcement raids sparked protests in Los Angeles, leading President Trump to send in National Guard troops and Marines. Many demonstrators said they had family members who were afraid to leave their homes because they didn’t have legal status in the U.S. Protests have since spread to other cities.
Across America—and particularly in Southern states with large Hispanic populations—consumer goods companies, food and beverage makers, restaurants and retailers are taking a hit. Coca-Cola’s sales volume in North America fell 3% in the first quarter of the year, partly because of the pullback by Hispanic shoppers, company executives said.
Read more: https://www.wsj.com/business/retail/latino-shoppers-retail-sales-coke-7005b8ac
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