Latin American economies shrunk by more than 8% on average in 2020. This reality fosters the concept of frugal innovation, given the inadequate fiscal and monetary stimulus in the region. Consumers will continue to be price sensitive and receptive to affordable products that answer their needs. Innovation, social networks, business models and flexible payments methods will be key actions that must be taken to engage with this targeted consumer.
Consumer Trends
We analyse income, spending, behaviour, demographics, and household makeup. Using an established framework, we evaluate long-term megatrends and annual global consumer trends that shape industries and drive product development.
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Middle Class Reset in Latin America
12/20/2021
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