More than 98% of the ethnocentric supermarkets in the United States cater to either Hispanic consumers or Asian consumers, and both populations have grown more than 40% during the last 10 years, according to a new research report from IBISWorld. The research firm’s 2011 Ethnic Supermarket Industry Report pegs the value in dollar volume of ethnic supermarkets at about $26 billion, up an average of 2.1% a year during the last five years. That pace is seen accelerating to 3.7% annually during the next five years, reaching $31.2 billion in projected volume by 2016. The number of ethnic supermarket store locations is projected to grow to 25,012 in 2016, up from 21,393 in 2011, the report stated. “At the same time, the expanding ethnic population is pushing non-industry supermarkets to increase their product offerings, which has intensified competition for the industry’s operators,” said Nikoleta Panteva, IBISWorld senior industry analyst.

Source: IBISWorld Ethnic Supermarkets Industry Report (IBISWorld.com)

HARLEM — A Walmart in the heart of Harlem would put 30 to 41 retailers who sell groceries and fresh produce out of business during its first year of operation, a study released Thursday by Manhattan Borough President Scott Stringer claimed.

During the second year of operation, an additional 18 to 25 stores would go out of business in a one mile radius, according to the report titled "Food for Thought" which was authored by a Shira Gans, a food and economic development policy analyst in Stringer's office.

The study surveyed 304 food retailers within 10,000 feet of 125th Street and Lenox Avenue and used data from studies of other areas where Walmart has opened stores to calculate the local impact.

A 2009 study from Loyola University in Chicago found that 25 percent of all competing businesses within a mile of a new Walmart went out of business within a year. In the second year, the rate of closure was 40 percent.

New York, N.Y. November 30, 2011 - On Tuesday, November 29, 2011 the 10th Annual Latino Trendsetters Awards recognized the accomplishments of outstanding trailblazers and executives from the Hispanic community at a ceremony and presentation in New York City.

Univision's Nilda Rosario and Telemundo's Jorge Ramos emceed the evening, attended by more than 200 leaders in business, education, philanthropy, technology and the arts. Honorees for this year's event hail from an array of companies including Pepsi-Cola, Time Inc., Morgan Stanley and the National Super Market Association. Legendary salsa music star, Jose Alberto "El Canario" and his ten-piece orchestra electrified the crowd with an encore performance.