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 moreOct 2013
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Over the next five years apparel strategy in Latin America will be more important than anywhere else in the world. With Brazil hosting the World Cup and Olympics back-to-back, leading sportswear brands will need to be at the top of their game. At the same time, a new and aspirational middle class has fuelled big opportunities for fast fashion brands positioned at premium prices. How well leading players engage with the tastes and demands of Latin Americans will determine who comes out on top.
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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.
Social class C – the new middle class in Latin America and a key consumer base for apparel – has mushroomed over the past decade, fuelled by higher minimum wages, big-budget welfare programmes and a fuller labour market.
Shopping malls are springing up all over the region, creating opportunities for apparel specialists and mixed brand retailers to build new positions in first and second tier cities. They have forged a new culture of “retailtainment”.
There has been dramatic growth in social media, opening up new platforms for apparel brands to engage with consumers. Brazilians and Mexicans are now among the biggest users of Facebook in the world.
The spending power of Latin American men is growing rapidly, and is substantially higher than women’s. However, menswear remains largely undeveloped in terms of global brands (women spend around 50% more).
Fast fashion
Fast fashion culture is gathering pace in the region, fuelled by new investment from H&M, Gap, Forever 21 and Topshop. This is ramping up competition for Inditex, which has been building a profile in Latin America for two decades.
Latin America is a key battleground for the world’s biggest sportswear brands, as Brazil gets ready to host the 2014 FIFA World Cup and the 2016 Olympics. Sponsorship deals are at the nub of rivalry between Nike and Adidas.
Premium jeans, spearheaded by Levi’s and Wrangler, are delivering strong growth but remain over-dependent on male consumers. Unlocking innovative ways to attract women buyers will be key going forward.
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.