Latino Food Trade Group has Formed to Give Latinos better Representation
In August, a group of food industry participants including leading Hispanic supermarket chains Northgate Gonzalez and Vallarta Supermarkets announced the formation of the Latino Food Industry Association (LFIA). LFIA is a trade group that will represent the interests of Hispanic food sellers and purveyors, and promote their impact on the national economy. LFIA, based in San Diego and San Francisco, has gained significant membership through a partnership with the Neighborhood Market Association, which has a network of members ranging from more than 100 grocery stores and 1,200 convenience stores, as well as an extensive list of suppliers, distributors, manufacturers, growers, corporations and individuals. The initial corporate sponsors include Coca-Cola and PepsiCo and more should follow soon. Ruben Smith, LFIA board chair said the following in a statement,
Given the Hispanic market’s $1.5 trillion in annual buying power and the rapid growth of Hispanic-owned businesses in the food and beverage segment, many of our members felt it was time to launch the Latino Food Industry Association to maximize our position in the industry. Our members include grocery chains, independent grocers, restaurateurs, food and beverage manufacturers and distributors, growers and several national brands who see a unique opportunity to boost market share as Hispanic food grows in popularity.
The LFIA was established to promote, support, educate and advocate for the thousands of Latino owners, employees and entrepreneurs who are involved in every aspect of the country’s rapidly growing food industry. Hispanics have become an important demographic growth driver in the food, beverage, and restaurant sector and now represent 17 percent of the U.S. population, with $1 trillion in buying power. Moreover, their adherence to dining traditions is also influencing national consumption patterns, including fresh and from-scratch cooking and stove-top preparation. The creation of the LFIA is a significant step in getting better representation for Latinos in the food industry.