Hot Retailer Alert: Hispanic Grocers
Bravo Ranch Supermercado opened its second Houston location, a 42k SF store at Fairmont Junction Shopping Center in Pasadena. Hunington’s Rafael Melara brokered the deal and tells us it’s just one of a handful of Hispanic grocers jostling for market share. (Also in the running: Mi Tienda, Fiesta, La Michoacana, Panchos Market, and more.) Rafael says these stores are getting larger and knocking down vacant big boxes—Bravo Ranch’s two locations are both former Krogers. He thinks smart grocers will get away from traditional stores with a row or two of Hispanic foods and move to opening specially branded concept stores. (We can never find the right seasonings in those aisles.)
Rafael says that goes beyond a Spanish name to include aesthetics that appeal to the Hispanic consumer and a broad variety of product. And of course location is important—Rafael recommends building in Katy, which has one of the fastest-growing Hispanic populations in the Houston metro. About 29% of residents are Hispanic, a 46% increase from 2000. Rafael says this is because some new home developments are specifically gearing toward first-time Hispanic homebuyers, with budget conscious pricing and better schools. Fiesta is building a store off of FM 529, but he says the retail market is still underserved.
