Cleaning Products Latin America 2017 will take place at the Renaissance Sao Paulo this June 27-29 in Sao Paulo, Brazil. Attendees will have a chance to hear from industry experts, understand the biggest challenges, innovations and trends in the industry and build relationships with top leaders in the cleaning products field.
Date: June 27-29, 2017
Location: Renaissance Hotel, São Paulo, Brazil
Presentation Time: Wednesday, June 28, 9:30am
Presentation Title: Balancing Innovation and Affordability
Speaker: David Mackinson, Research Manager at Euromonitor International
Presentation Description: Affordability tops global consumers’ list of reasons for purchasing a new product, but there are regional differences in the order of importance placed on this attribute. In Asia-Pacific, affordability is the third-most important reason for purchasing a new product, behind value and convenience. North Americans place affordability second on their list, behind novelty and tied with brand recognition. In Latin America, affordability is just slightly behind brand recognition as the reason for making a new product purchase.
How has this dynamic changed in Latin America in times of crisis? Recession, inflation, unemployment, and a more expensive US dollar are just a few factors that are pushing consumers in the region to trade down, and to consider more affordable options, regardless of the brand name. Meanwhile, the modern grocery channel is now the preferred one-stop shop for time-scrapped Latinos, meaning retailers and private labels have a real opportunity to gain market share. Private Labels represent only 3% of the Home Care market in Latin America, a rate well below the 17% in Western Europe, for example.
In this presentation, Euromonitor International will discuss how important affordability is to Latin America consumers, talk about other markets and specific brands in times of economic crisis, and give an overview of the consumers’ profile and opportunities in this market.