Latin America is one of the most diverse regions in the world. Strategies that work in Asia or Europe, for example, can’t simply be plugged and played into this unique region. Read this article for two consumer trends to watch in Latin America in 2024.
The share of private label sales in Latin America remains far below that of developed regions such as Western Europe and North America, indicating there is further opportunity for growth. Euromonitor International has examined the main reasons for the growth of private label in Latin America.
Latin America is emerging as one of the most dynamic regions for the pet care industry worldwide. While the region's average expenditure still trails behind advanced markets, its steady growth is notable, highlighting the increasing relevance of pets in Latin American families.
A direct selling revival is unlikely to happen in 2024. Consumers craving personalised shopping experiences are migrating towards pharmacies. In this article, Euromonitor International explores the drivers for channel depletion in Latin America.
In 2022, consumer foodservice sales in Mexico recovered to their pre-pandemic levels and growth trend. Understanding channel trends, how competitors are innovating in response, and where growth opportunities lie are all crucial elements in building a well-informed consumer foodservice strategy.
Easing of inflationary pressures and looser monetary policy are expected to benefit Brazilian consumers and lift their purchasing power, although slower global economic growth will constrain faster disposable income growth in 2024. For companies, it will be key to provide good value for money for goods and services to gain customer loyalty in Brazil.