The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn more59 pages, Aug 2017
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Leveraging Euromonitor International’s proprietary Digital Consumer Profiles segmentation analysis, this briefing explores the Latin American digital consumer’s defining characteristics, motivations and preferences and how that impacts how these consumers shop and spend digitally. This briefing concludes by outlining five promising digital commerce opportunities in Latin America.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Despite higher income levels than Asia Pacific, fixed broadband penetration rates in Latin America were just marginally ahead of Asia Pacific as of 2016. Income inequality and high-priced services hold back more robust digital connectivity across Latin America.
Latin American digital consumers are more tightly concentrated in the 25-34 age bracket than other regions, with 57% falling within that age range as compared with 43% outside the region.
Latin American digital consumers are conducting more commerce activities online and doing so more often on mobile devices rather than computers. Using banking services and reading reviews are among the most popular daily activities on both form factors.
Like digital consumers elsewhere, those in Latin America indicate saving time and money as the top motivations for shopping online, with these two motivations being given equal weight. Free shipping, the variety of available brands and the ability to shop anytime, anywhere were also popular.
Latin America is in the early stages of its digital commerce story. In addition to these nations having a weak digital backbone, Latin Americans do not have the financial wherewithal of developed economies nor the future growth rates of emerging ones. Even with economic recovery, Latin America’s digital commerce uptake will continue to be restricted by a number of challenges that face the emerging region, including high cash usage and fraud.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.