We all know how Amazon is dominating the retail sales world. They can cause the stock valuations of an entire business sector to plummet just by sticking their toe in a new business category (see grocery and pharma). So who is going to challenge them? My bet is Walmart. Walmart has more cash flow and as much data on their customers as Amazon does. They are spending billions on technology and they know how to segment their business better than anyone. I also happen to know that they hired away some of the same marketing geniuses that helped reinvent Target from a dying brand to a modern enterprise. While Amazon may currently have the edge on technology, Walmart is ahead on actual engagement with one of the most influential U.S. consumer segments — the Latino demographic. Jeff Bezos is one of the smartest leaders in business today, but I wouldn’t count out the largest retailer in the world just yet.
Next week, I will be speaking at a Hispanic Leadership Summit at the United Nations. I was asked to speak on the topic of Unity. The following is a preview of my speech.
The image of Latinos is not just a nice thought; it affects everything from business opportunities and access to capital to how our children are treated at school. Latinos are among the hardest workers and most entrepreneurial of any group in America. However, negativity has dominated the narrative about Latinos for far too long. This one is on us.
We currently have 11 million unfilled jobs in America. Ending illegal immigration will either dramatically increase that number and have massive disruption to our economy, or we will have to...