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  1. #81
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    Quote Originally Posted by cobraboy View Post
    Additionally, it is very difficult to differentiate Dominican expats coming back to their homeland from Joe and Molly on holiday from Jolly Ol'.
    What does that has to do with anything? A tourist is anyone that visits a place they don't live in permanently.

    Plus, for the latest year I could find data for, 89.3% of tourist arrivals stay at hotels.

    Compare that with other markets like:

    Haiti 37.1%
    Jamaica 63.9%
    Puerto Rico 36.9%

    Who do you think makes up most tourists for Haiti and Puerto Rico, expatriates or foreigners to those countries? Remember, Haiti is one of the least visited countries on Earth and over half of Puerto Ricans live on the US mainland. Even people that would go to PR to hop on a cruise, would have to stay at a hotel for at least one night.

    http://www.onecaribbean.org/content/...untryStats.pdf
    http://www.onecaribbean.org/content/...untryStats.pdf

    Quote Originally Posted by rubio_higuey View Post
    Food for thought:
    1) According to the SECTUR the passenger arrivals to the DR are growing by the year
    2) According to the Caribbean Tourism Association, the Caribbean region as a whole has seen considerable decline in tourism in the last 5 years.
    That's a rather funny looking post.

    Out of 29 destinations, only 7 had an overall decline in arrivals in 2010; and that's from the Caribbean Tourism Association! (http://www.onecaribbean.org/content/...e8Lattab10.pdf)

    The DR grew by 3.3%, but the largest gains were Saint Eustatius 11.6%, Cancun 11.4%, and Saint Lucia 9.9%.

    So far this year, all Caribbean destinations minus Bahamas, Dominica, Saint Lucia, Saint Maarten, and the US Virgin Islands; have seen growth in arrivals that ranges from 0.7% (Guyana) to 11.8% (Anguilla), with the DR posting a 3.7% growth rate. (http://www.onecaribbean.org/content/...alsYTD2011.pdf)

    Care to give an explanation, rubio_higuey?

  2. #82
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    Quote Originally Posted by NALs View Post
    What does that has to do with anything? A tourist is anyone that visits a place they don't live in permanently.
    There is a difference between folks coming home to visit and staying with family and friends...and maybe the odd hotel...and a foriegner coming to stay in a resort.

    3.7% growth doesn't even keep up with inflation, especially considering the growth of new romms has increased far beyond that (of course, some resorts have gone belly up so to mitigate the increase in new rooms.)

    The "20% growth worldwide for several years" is laughable...

  3. #83
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    Quote Originally Posted by NALs View Post
    I really don't know what all the fuss is about. If you build a shopping center with very little or no financing from banks or with preferential treatment (very low interest rates that are only available to those the bank has a long and positive relationship), then making money from the project is a non-issue since overhead costs are relatively low.

    Most Dominican malls tend to not rent their space, but rather sell; which is why the whole increasing foot traffic ordeal tends to be rather poor in many places, but with the new injection of foreign mall developers and management firms (mostly Venezuelan), the concept of renting the commercial space is beginning to take hold. That changes everything, which is why Blue Mall (one of the very few malls that rents every single commercial space available) has events all the time. When the Sambil mall (also Venezuelan) is inaugurated next year, it will probably have a very similar management style as Blue Mall, although the Sambil will not target exclusively the AB sector as is the case with Blue Mall. Sambil will have 300 stores (no anchor department stores, since the entire mall will function as one large dept store, similar to Blue Mall) targeting the ABC sector, primarily B and C.

    And I don't understand this whole ordeal of whether a mall looks empty or not. For of all, the average Dominican mall (whether foreign owned or not) tends to be small. Its obvious it will not have the same constant foot traffic as a large shopping mall would have (as most US malls tend to be). Plus, Dominican malls rarely have a full fledged department store as an anchor, rarely does management control the type of store/office mix. These are different malls that have a different way of operating.

    The only Dominican mall that most resembles a US mall is Megacentro. A part from being a large mall (it would be considered a super regional mall in the US, it's that big), it has like 4 or 5 large anchor stores. The place is so big, it has virtually absorbed the entire market for indoor mall retail space east of the Ozama River. That's why in East Santo Domingo, there are hardly any other malls. Megacentro also rents its spaces. This mall looks, feels and functions like a US mall, because it was designed by a US firm.

    That's not the case in the National District. Here the market is segmented by mostly small and medium sized malls, that if combined, would had probably created two Megacentros. Most DN malls don't have large anchor stores.

    One thing that does speaks volumes is the complete lack of awareness, as I've read through this thread, that most businesses (except if they survive by selling mostly perishable items) can last up to 11 consecutive months with losses and then December arrives with its yearly upsurge in sales, and the sales volume is often enough to pull the businesses out of the red and end up with a nice profit for the year. Christmas, New Years and Three Kings Day has much to do with that.

    Go during the last week (people leave everything for the last minute) before Christmas and Three Kings Day to most malls, especially in the Capital, and then come here and say that no one shops there.

    And last but not least, I don't know to who rubio_higuey talked to regarding advertisements. A very narrow selection of products in the market are targeted to the D sector, very narrow. The bulk is targeted to the ABC sectors, and that's the emphasis all businesses that survive from advertisement exalt in their media kits. Even in the print media, including the newspapers and magazines, are almost exclusively targeted to the AB or ABC sector. Those sectors accounts for the bulk of consumption in the country.
    That sounds nuts to me man, operate at a loss for 11 months straight and wait for the remittances to arrive in December? TO NOT ONLY BREAK EVEN BUT MAKE A PROFIT?

    Terra Mall is like American malls, small malls and it could support 4 anchors if they existed.
    I just came back from McDonalds and 20% tax is unsupportable. I m not sure if business models here are about profit or ROI. I think they solely are concerned with market share/concentration. Seating for 100 people but only 4 families in there on a Sunday afternoon? That is the only reason I can see Franchising opportunities succeeding here. The bragging rights for the international Head Corporation.

  4. #84
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    Quote Originally Posted by RacerX View Post
    That sounds nuts to me man, operate at a loss for 11 months straight and wait for the remittances to arrive in December? TO NOT ONLY BREAK EVEN BUT MAKE A PROFIT?
    I bet it also sounds nuts to you that most businesses close their fiscal year at the end of January or even February, instead of December.

    Hmm, care to guess why that is the case?

    Those remittances are really a drop in a big bucket. It only amounts to 6% of total yearly consumption, much less during the peak consuming period; and most of it is spent on the basics like food and such.

    Quote Originally Posted by RacerX
    Terra Mall is like American malls, small malls and it could support 4 anchors if they existed.
    It's not like any American malls. It doesn't have a single anchor department store, for starters.

    Quote Originally Posted by RacerX
    I just came back from McDonalds and 20% tax is unsupportable. I m not sure if business models here are about profit or ROI. I think they solely are concerned with market share/concentration. Seating for 100 people but only 4 families in there on a Sunday afternoon? That is the only reason I can see Franchising opportunities succeeding here. The bragging rights for the international Head Corporation.
    Right, you spend 20 minutes in a McDonald's and from that, you're able to 'see' how its doing. I guess you also have flashes in your vision that allows you to see all the drive through customers as well as the one's that order delivery, plus see all the take out customers too.
    Last edited by NALs; 10-10-2011 at 09:36 PM.

  5. #85
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    Quote Originally Posted by NALs View Post
    And last but not least, I don't know to who rubio_higuey talked to regarding advertisements. A very narrow selection of products in the market are targeted to the D sector, very narrow. The bulk is targeted to the ABC sectors, and that's the emphasis all businesses that survive from advertisement exalt in their media kits. Even in the print media, including the newspapers and magazines, are almost exclusively targeted to the AB or ABC sector. Those sectors accounts for the bulk of consumption in the country.
    I really liked what you said about the malls, the operating examples, etc. I think you explained the whole thing better in three paragraphs than Pichardo could in multiple posts.

    BUT I completely disagree with you about advertising. First of all, the person I spoke with about the advertising "as done in SD/DN" was a person with about 15 years history in television and cable advertising and who is like "fish in the water" among people from OMD, PHD, AOR, Pages and the likes. She knows what she talks about as she is highly respected... what we talked about was television advertising. I won't talk about print and magazines, because there are specialty magazines where ads to AAA+ segment (the strawberry of the cream) can be seen. But most TV advertisement is dedicated to B,C and D segments. Very little A segment. Of course the A segment buys "sopita" as well, but mostly likely the "doña de la casa" (A strata) gives a shopping list to the hired help (D strata) to buy "sopita" among other things...and she buys what (brand) she knows form all the ads ran in the novelas she is watching.

    The ad pricing (especially TV) in the DR is hugely depressed, especially BECAUSE of the fact that advertisers take "A segment" into very little consideration. And that is the FACT. Take CPM on Telemicro or Antena Latina and take CPM in Colombia on caracol, for example (same parity adjusted GDP as the DR) and Colombia's CPM is about 20x that of the DR's for major TV networks. You know how much a spot BOUGHT in the DR on WB, SONY or AXN costs that can actually be seen around all Latin America? With bulk buying about 80 to 100 dollars. The same type of spot that will be transmitted after the DR spot, also seen in the whole Latin America, but sold in Guatemala, costs about 300 dollars.

    The fact is that bulk TV channels cater to bulk audience and that audience is B, C, D. A audience has little time to watch TV. When they watch they rarely watch national TV. That's why TV advertising is mainly B, C, D. And even for the little A advertising done in TV, it is further depressed by the fact that A segment buys abroad and online.

    NOW, some specialty magazine MAY charge premium rate, because it's audience is PREMIUM. Golf magazine is an example. Golf Channel rate for DR panregional spot is about 3 to 4 times the price of other panregional networks. But Doña Gallina would most likely not advertise there, and neither would Radiocentro and their chinese product set. Most premium brands contract panregional advertising via HQ. So I don't think Viamar, Autogermanica, etc would advertise, because their product HQ would.

  6. #86
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    Quote Originally Posted by NALs View Post
    I bet it also sounds nuts to you that most businesses close their fiscal year at the end of January or even February, instead of December.
    Absolutely not true. Most businesses close fiscal year December 31. Also, it's not possible to close fiscal year in January or February. You can close March 30, June 30, September 30 or December 31. I have one company that ends fiscal year on September 30, and it's a headache for me and DGII. While technically possible to change fiscal year-end-date, permitted by law, nobody at DGII has any idea how to do it system-wise. Tried, failed, tried and failed again. I am now basically stuck with a permanent note in their system saying that the (fiscal) year (showing in their system) I started the business is not actually correct for tax filing purposes, and that my "filing year" is not actually a correct filing year. My first IR-2 filing was a headache for me and for them. They had to consult HQ about 20 times. The system didn't even want to accept my return. They had to "tweak" it for the declaration to go through. I asked how many companies end fiscal year in dates other than December 31 and I was told "very few". One DGII agent told me mine was "the first one" she has seen... go figure. So please don't tell the people that most stores in the DR end fiscal year in January or February, because it's not true. First of all, it would have to be end of march, and second, the systems and processes at DGII would be prepared for it, which they are NOT.

  7. #87
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    I hate to say it but the person I once respected in Nals has become a "say anything" proponent like the ultimate P himself to make the DR appear that it is a first world country.

    All I can say is a real patriot would be not be covering up the truth as it only helps the current parties maintain the status quo.

    If it is for more ulterior motives, like P's apparent government sponsored unintelligible diatribes, with a goal to encourage more foreign investment and tourism it would be much better spent in paying the police a livable wage to combat crime and upgrade the country's infrastructure instead of pie in the sky projects like trying to convince gringos 1 + 1 is 4, or the metro for that matter.

  8. #88
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    Quote Originally Posted by rubio_higuey
    …what we talked about was television advertising. I won't talk about print and magazines…
    You could had ended right there, since it’s clear that we’re not talking about the same markets.

    Quote Originally Posted by rubio_higuey
    The ad pricing (especially TV) in the DR is hugely depressed, especially BECAUSE of the fact that advertisers take "A segment" into very little consideration. And that is the FACT.
    Print ads are not that depressed. Take Mercado Media Network as an example. They were charging around $2,300 USD monthly for a one page ad and almost $4,000 USD for a double page spread. Considering that there are practically no magazines targeting anything below C, almost all are AB and ABC focused. Even the newspapers like Diario Libre, Listín Diario, El Caribe, etc are ABC bound and under that understanding is how they sell their ad space.

    Another interesting medium is billboard advertising, which was and probably still is cheaper than via the magazines/print. In 2005 Publicidad Flamingo quoted upwards of RD$35,000 monthly for their 20x40 billboards. Cartel Publicidad Exteriores was offering their electronic billboards at almost RD$30,000 monthly. At an exchange rate of 30:1, they ranged as much as US$1,000 to US$1,167 monthly on the higher end. And these are averages, not taking into account the variations that come with location, with the 27 de Febrero and Lincoln intersection being the choicest and priciest place to rent ad space.

    Regardless what way one wants to look at this, cheap it’s not!

    Quote Originally Posted by rubio_higuey
    NOW, some specialty magazine MAY charge premium rate, because it's audience is PREMIUM. Golf magazine is an example. Golf Channel rate for DR panregional spot is about 3 to 4 times the price of other panregional networks. But Doña Gallina would most likely not advertise there, and neither would Radiocentro and their chinese product set.
    Absolutely not, but you will see Pizzarelli, Presidente, Ron Barceló, Tropigas, El Caribe, Carolx, Martí PG, La Sirena, etc.

    Quote Originally Posted by rubio_higuey
    Most premium brands contract panregional advertising via HQ. So I don't think Viamar, Autogermanica, etc would advertise, because their product HQ would.
    They don’t rely purely on the panregional type ads since in addition to buying advertisements locally, they also create some of it. In fact, Autobritánica -Range Rover - (also owned by the Pellerano as is Autogermánica –BMW –) and Peynado GA (Porsche, Maserati, Ferrari, Volvo) even have a premium channel on a specialized Dominican-based advertising website that exclusively targets the Dominican market and the content is original, not panregional at all; to cite one example.

    Quote Originally Posted by rubio_higuey
    Absolutely not true. Most businesses close fiscal year December 31. Also, it's not possible to close fiscal year in January or February. You can close March 30, June 30, September 30 or December 31.
    That is correct. I committed an error by confusing a typical accounting practice among U.S. firms with the Dominican ones. However, many more Dominican firms than you probably imagine do have a fiscal year end on dates other than the last quarter of the calendar year. In fact, when the tax rate was lowered for fiscal year 2007, the government returned the equivalent of roughly $6 million USD in over paid taxes.

    BTW, the first quarter close date is March 31, not the 30th.

  9. #89
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    I've shopped in Santiago for 4 years and have never been to this , what is it called, bella terra. Empty malls like Las colinas, I go there for Jumbo only. The rent must be too much. Maybe someone should build 2 or 3 more big mall that can sit empty. At least put a good food court in it so we can go there for the food.

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    Nike (first of it's kind in the country) and Hooters are getting ready to open up shop in Bella Terra Mall with stores by Converse, Adidas, Wendy's, Haagen-Dazs, Krispy Kremes, Springfield, Stradivarius, Johnny Rockets and others soon to follow. The new administration has made an official announcement that by March 2012 100% of available space will be leased...






















































    One Dominican at a time please!


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