Understanding Market Demand for Household Appliances in LatAm
Market Assessment + Consumer Insights
Our client, a leading manufacturer of household appliances, wanted to test the readiness of its leading Latin American market for their plans to double the number of product models they place in market.
Americas Market Intelligence (AMI) designed a comprehensive study that would analyze the three essential elements of market intelligence (demand, competition and business environment). Demand was studied both by looking at consumer purchasing power and changing tastes, as well as a consumer survey of purchasing habits and intentions specific to household appliances. Six key competitors were analyzed to see which niches they occupied as well as what products they would likely launch over the next 12 months. Both the economic and regulatory environments were forecasted over a three year period.
AMI’s study culminated in a gap analysis in which we identified eight different products that could enjoy underserviced demand opportunities during a 12-24 month window before the competition would move in.
We recommended market entry in three waves, beginning with the most pressing and likely lucrative opportunities, followed by subsequent waves of lower margin but larger opportunities that would require more planning and investment. Our client succeeded in doubling their business over a three-year period.
AMI advised the client on which products would be most successful in Latin America and doubled their presence in the market over three years.