Since 80% of consumers in Latin America fall somewhere between middle class and poor, retailers who ignore that huge segment of the population aren’t really in the game, said Mr. Barrientos, who previously worked for Wal-Mart in Chile. Small stores, he added, are crucial for attending the lower-income brackets. Wal-Mart operates in nine Latin American countries.
The challenge comes from local open-air markets – the tianguis, possible protectionism measures from the Mexican government, adding locally-grown produce (in a country where cartels interfere in everything), and access to the new stores by customers who have no means of transportation.
However, these new shops offering longer hours may be welcome by slightly more affluent customers.
Anailin de la Rua de la Torre and Javier Nunez Florian, the 20-year-old Cuban-born actors, were flown from Cuba to the United States on Wednesday and were supposed to make their way to New York on Friday in order to promote the film. But instead, the pair stayed in Miami, according to 20-year-old Dariel Arrechada, the third star of the film who traveled with them.
Newmont Mining Corp. (NEM) (NEM)’s suspended $4.8 billion gold mine in Peru will be subject to “new conditions” that include the creation of 10,000 local jobs and a fourfold increase in reservoir capacity at the site to gain approval, Peruvian President Ollanta Humala said.
The company must pledge not to dry up highland lakes and invest in schools, irrigation canals and drinking water infrastructure in Cajamarca, a farming region in the northern Andes, Humala said in a speech broadcast yesterday on national television and radio.
Peru suspended the project and commissioned a review after Andean farmers, concerned that the project would dry up water supplies, blocked roads and destroyed Newmont installations in November. The project, which has cost $800 million to date, will cost more to build because of the recommendations of the review, Environment Minister Manuel Pulgar said April 18.