Latin America is a key emerging region for global economic growth, and with the emerging middle class in Latin America growing rapidly, the region is a lucrative market for many businesses.
Is your business trying to enter this region but lacking the knowledge or research to make strategic market entry decisions? Entering a new market can be challenging, particularly when taking into consideration nuances in demographics such as consumer behaviour and purchasing decisions.
For example, in Brazil, moving consumers to higher priced branded items will likely be difficult due to the country’s current business environment. Despite strong historical growth on consumer expenditure across different categories, Brazil’s economy slipped into technical recession in mid-2014, and growth has been in the low single digits, making new product launches difficult.
Utilising market research helps you understand consumers in Latin America, offering knowledge on population, demographics, income and per capita spending. This type of information enables you to create targeted and effective strategic market entry plans.
Euromonitor has compiled a list of free resources to provide greater insight into the region:
Euromonitor International has extensive knowledge on the travel, beauty and retailing industries, as well as economic data on consumer demographics and the business environment. Contact us to learn more.