Entrevista a Adriana Echandi CEO de Morpho Travel Experience, Grupo Britt

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This section includes an introduction to the program and a request for viewers to subscribe, share, and like the video. The host also thanks the sponsors.

Introduction and Sponsorship

• The host welcomes the viewers and thanks them for watching.

• Viewers are requested to subscribe, share, and like the video.

• The importance of increasing the number of followers is emphasized.

• Thanks are given to the sponsors, New Trade and Jones Lang LaSalle.

Interview with Adriana Echandi

• Adriana Echandi is introduced as the CEO of Morpho Trail Experience.

• Morpho Trail Experience is described as a company that creates unique experiences in stores, restaurants, hotels, and airports in Latin America.

• Adriana's career journey within the company is highlighted, starting from being a salesperson to her current position as part of the leadership team.

• She has worked in 11 countries over 21 years at Morpho Travel Experience.

Growth and Joy in Work

• The growth of Morpho Travel Experience over 21 years is mentioned, starting from Costa Rica and expanding to other countries in Latin America.

• The joy of facing new challenges every day is expressed.

• The company's focus on innovation, creating new categories in stores, and making each day different is highlighted.

Creating Unique Experiences

• The impact of Morpho Travel Experience on changing consumer preferences towards more experiential shopping is discussed.

• The goal is not just selling products but providing a complete experience for customers by showcasing product origins, explaining their impact, and creating a connection with local culture.

Evolving Customer Base

• Changes in customer perception since 2001 are mentioned. Initially, people associated duty-free stores with liquor and perfumes, but Morpho Travel Experience introduced a new category focused on local culture and souvenirs.

• The company complements the existing duty-free offerings by adding value and showcasing the essence of each country's culture in their stores.

Tailoring Stores to Local Culture

• The diversity of products offered in different countries is highlighted, with each store reflecting the local culture and artisanal traditions.

• Marketing techniques, promotions, and working closely with passengers to provide a unique experience are mentioned as strategies that can be replicated across different countries.

Expanding Product Availability

• The availability of certain products beyond airports is discussed. For example, Café Britt produces Peruvian coffee and chocolates that are sold both locally and as gifts.

• Each store maintains the essence of its respective country's culture while incorporating marketing techniques used across all locations.

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Working with Artisans

The speaker discusses their experience of working directly with artisans for 15 years. They mention the variety of products made by artisans, such as handcrafted Ayacuchan retablos and ceramics from Peru. The previous customers were willing to pay a higher price for these products due to their quality and craftsmanship.

Artisan Products

• The speaker mentions the diverse range of artisan products available, including Ayacuchan retablos, ceramics, and more.

• These products have intricate details and are made with exceptional craftsmanship.

• Customers appreciate the cultural significance and story behind each product they purchase.

Impact on the Community

The speaker explains how their focus is not only on selling artisan products but also on giving back to the community. They have created a community of Latin American artisans from five different countries in the region. By purchasing these products, customers contribute to preserving the cultural heritage of Latin America.

Cultural Impact

• Customers who buy artisan products are supporting the cultural legacy of Latin America.

• The impact goes beyond just making a purchase; it is about appreciating and preserving traditional techniques passed down through generations.

• The speaker emphasizes that their goal is to provide something that keeps customers interested in their offerings while targeting different audiences.

Diverse Product Categories

The speaker mentions that they offer more than 12 categories of products in their store. These include indigenous food items, nostalgic souvenirs, and items featuring iconic elements of Machu Picchu and Peru. They aim to cater to various interests and remind customers of their travel experiences.

Wide Range of Products

• The store offers a variety of categories such as indigenous food items, nostalgic souvenirs, and products featuring iconic elements of Peru.

• The goal is to provide customers with items that remind them of their travel experiences and keep them interested in the store's offerings.

Changing Customer Profile

The speaker discusses how the customer profile has changed over time. They mention that the new generation of customers, both from Europe and Latin America, is interested in making an impact on the community through their purchases.

Evolving Customer Profile

• The customer profile has shifted towards a younger generation who are conscious about making a positive impact on the community.

• This new generation includes customers from Europe and Latin America who want to support local artisans and contribute to preserving cultural heritage.

Impact of Pandemic on Tourism

The speaker explains how the pandemic affected tourism globally, including their business. However, they have seen a gradual recovery as travel restrictions have eased. There has been an increase in visitors from the United States and Peruvians exploring their own country due to limited international travel options.

Impact of Pandemic

• Like many businesses in the tourism industry, they were heavily impacted by the pandemic.

• As travel restrictions have eased, there has been a gradual recovery with an increase in visitors from the United States and domestic tourists within Peru.

Adapting to Changing Demands

The speaker mentions that they have adapted to changing demands by introducing new product categories based on customer preferences. Despite challenges during the pandemic, they have managed to maintain their average ticket value as customers who are traveling now tend to have more disposable income.

Meeting Customer Needs

• They have introduced new product categories based on changing customer preferences.

• Despite challenges during the pandemic, they have maintained their average ticket value as customers who are traveling now tend to have more disposable income.

Recovery and Impact

The speaker discusses how their business was initially heavily impacted by the pandemic but has seen a faster recovery compared to other destinations. This has allowed them to attract visitors from countries interested in their offerings.

Recovery and Impact

• While they were initially heavily impacted by the pandemic, they have experienced a faster recovery compared to other destinations.

• Their unique offerings have attracted visitors from countries interested in their products and cultural experiences.

Working with Artisans - Part 2

The speaker provides more details about working with artisans, specifically the Pimentel family. They mention that they help artisans with financial structuring, product packaging, and other aspects of running a successful business.

Supporting Artisans

• They work closely with artisans like the Pimentel family, helping them with financial structuring and product packaging.

• Their goal is to assist artisans in growing as entrepreneurs and professionals while preserving traditional techniques.

Impact on Local Society

The speaker highlights that their work not only focuses on commerce but also has a positive impact on the local society where they operate. They teach artisans how to sell their products effectively and provide guidance for business growth.

Empowering Artisans

• In addition to commerce, their work has a positive impact on the local society where they operate.

• They teach artisans effective selling techniques and provide guidance for business growth, empowering them as entrepreneurs and professionals.

Suppliers and Store Locations

The speaker discusses the importance of working closely with suppliers, both local and international. They also mention the locations of their stores in different countries.

Supplier Collaboration

• The company collaborates with local suppliers, particularly small to medium-sized businesses.

• They also work with international suppliers, including large companies in the water and beverage industry.

Store Locations

• The company has over 200 stores across 11 countries in Latin America.

• Their largest store is located at Juan Santamaría Airport in San José, Costa Rica.

• They have significant presence in Peru, Chile, and Mexico as well.

• In Mexico, they have many stores along the Riviera Maya, Cancun, Puerto Vallarta, and Los Cabos.

Target Markets and Traveling

The speaker discusses their main target markets and their travel experiences related to visiting different store locations.

Main Target Markets

• The company's main target markets are Chile, Costa Rica, Uruguay, Brazil (Rio de Janeiro), Curacao, and other Caribbean islands.

• They also cater to smaller markets but mentioned that these are not as significant as the ones previously mentioned.

Traveling for Store Visits

• The speaker travels frequently to visit various store locations.

• Each country or region has a dedicated manager who oversees operations.

• In Chile alone, they have a team of over 400 people working for them.

New Generation of Customers

The speaker describes the characteristics of the new generation of customers who prefer spending on experiences rather than material possessions.

Characteristics of New Generation Customers

• The new generation customers are typically young individuals up to 22 years old.

• They prioritize spending on experiences rather than buying a lot of material possessions.

• They are often unmarried, without children, and have fewer responsibilities.

• They tend to spend their earnings on themselves and their pets.

• They enjoy traveling alone or as a couple and value the experience over brand names.

Impact of Pandemic on Older Customers

The speaker discusses how the pandemic has affected older customers and the shift in customer demographics.

Impact on Older Customers

• Older customers, particularly those aged 50 to 70, were more cautious during the pandemic.

• Due to health concerns, they refrained from traveling and were less likely to make travel-related purchases.

Shift in Customer Demographics

• Younger customers are now driving more travel-related sales compared to older customers.

• However, the speaker believes that as time passes and restrictions ease, older customers will regain confidence and resume traveling.

Average Ticket Price and Food & Beverage Sales

The speaker discusses the average ticket price for their target customer segment and the impact of food and beverage sales on overall revenue.

Average Ticket Price

• The average ticket price varies across countries and stores but generally falls between $15 to $20 for the new generation of customers.

Importance of Food & Beverage Sales

• Combining food and beverage sales with other purchases increases the average ticket price.

• Some airlines have removed complimentary meals during flights, leading passengers to purchase snacks from stores like theirs.

• This strategy helps increase revenue by encouraging customers to buy both gifts/souvenirs and in-flight refreshments.

Customer Retention Challenges

The speaker highlights challenges in customer retention due to limited access to products after leaving a particular country or region.

Customer Retention Challenges

• While customers may be satisfied with the service and products, they may not have the opportunity to repurchase if they don't return to that specific country or region.

• Limited access to products in other locations reduces customer retention rates.

• The company aims to increase average ticket prices as a strategy to compensate for lower customer retention.

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The speaker discusses how they analyze consumer preferences and behaviors to improve their offerings. They also explore the consumption patterns of different nationalities and the impact of the pandemic on travel habits.

Analyzing Consumer Preferences

• The speaker mentions using data on consumer preferences, tastes, and behaviors to enhance their offerings.

• They mention analyzing data from Búzios dates to understand the preferences of male and female consumers.

• The speaker highlights the importance of adapting their displays to showcase products that align with customer interests.

Consumption Patterns during the Pandemic

• The speaker explains how they observed changes in consumption patterns during the pandemic.

• They compare the consumption habits of Peruvian travelers within Peru, Chilean travelers within Chile, and Colombian travelers within Colombia.

• By analyzing these patterns, they identify areas for improvement in various categories.

Foreign Passengers' Preferences

• The speaker notes that when foreign passengers started traveling again, they noticed a shift towards more desirable product categories.

• They observe that foreigners tend to consume more textiles such as t-shirts and polo shirts compared to locals.

• There is a discussion about how nationals tend to save their money for shopping in their destination country.

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The speaker talks about understanding customer needs and providing personalized promotions. They also discuss their experience working with artisans and creating a community of craftsmen.

Personalized Promotions

• The speaker mentions offering promotions tailored to frequent travelers based on their purchasing history.

• They give an example of introducing a new coffee from Machu Picchu region in Peru and inviting frequent customers to taste it first.

Working with Artisans

• The speaker shares their experience creating a community of artisans from five Latin American countries in 2019.

• They organized workshops for artisans to learn techniques, share stories behind their products, and foster a sense of community.

• Despite the challenges during the pandemic, they maintained communication with artisans to support them and ensure their craft was not lost.

Impact on Communities

• The speaker expresses pride in how artisans contribute to their communities by incorporating more people into their craft.

• They mention supporting artisans' families and ensuring continuity even when some artisans passed away due to COVID-19.

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The speaker reflects on their passion for understanding customers and providing a differentiated experience. They express gratitude for the opportunities to grow and collaborate with airport partners.

Understanding Customers

• The speaker emphasizes their dedication to understanding customers after 21 years in the industry.

• They mention that airport partners seek them out because of their ability to provide a unique customer experience.

Collaboration with Airport Partners

• The speaker acknowledges the opportunities provided by airport partners to continue growing.

• They express appreciation for the impact they have had on communities through collaboration with airport partners.

Please note that these summaries are based solely on the provided transcript.

Importance of the Platform

The speaker discusses the significance of the platform in providing visibility to individuals and their stories or areas of interest that may not be well-known. They express gratitude for the kind words and hope to have the person back in a year to hear about their new projects.

Platform Visibility

• The platform is considered highly important for showcasing people's stories and lesser-known areas of interest.

• It provides visibility to individuals who may have unique perspectives or expertise.

• The speaker expresses gratitude for the positive feedback received.

Acknowledgements to Sponsors

The speaker acknowledges and thanks the sponsors, New Straits and Jones Lang LaSalle, for their support.

Sponsor Appreciation

• New Straits, established in 2001, aims to provide innovative logistical and infrastructural solutions to the retail industry in Latin America.

• Jones Lang LaSalle is recognized for its achievements in real estate services and successful transactions in terms of rented square meters.

• The audience is encouraged to share and subscribe to the program while expressing gratitude towards Adriana for being present.

Program Promotion

The speaker encourages viewers to share and subscribe to the program while expressing appreciation for their support.

Program Promotion

• Viewers are requested to share the program with others.

• Subscribing ensures receiving notifications about upcoming programs.

• Gratitude is expressed towards Adriana for her presence on the show.

Farewell Message

The speaker bids farewell until next Thursday, accompanied by music.

Farewell Message

• The speaker says goodbye until next Thursday.

• Music plays as the video ends.

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