Consumer Insights for the LatAm Appliances Market
The growth of the emerging middle class is a phenomenon that has taken Latin America by storm in recent years, one that presents a challenge to consumer goods manufacturers.
Our client, a global leader in home appliances, wanted to research the consumption behaviors of the emerging middle class in Brazil, Colombia, Mexico and Peru, to help them to better target this emerging segment.
Analysts for Americas Market Intelligence (AMI) delved into the published research on this topic, consulting local newspapers, journals, government agencies, World Bank data, and reports published by industry analysts. Accessing both quantitative and qualitative data, the AMI team was successfully able to size, describe and understand the emerging middle class in each target country.
AMI divided the emerging middle class into two categories by country, based on the group’s most prominent characteristics driving consumption behavior. This allowed the client to develop two differentiated strategies, culturally applicable to each country.
The findings enabled the client to identify new business channels, develop messaging strategies and generate ideas for new product launches. They also highlighted areas where more research was required and helped the client identify next steps in their product development efforts.
The client gained an understanding of the emerging middle class, a rapidly-growing and unique consumer segment, and develops a strategy to best reach them.