While Brazilians have seen some economic tough times in recent years, things are gradually starting to turn around. According to recent data from the National Confederation of Shopkeepers, consumer confidence is up 5 points from the previous year (45.8 points in December 2018, compared to 40.9 points in December 2017).
However, the same survey indicated that Brazil still has a ways to go. Due to high unemployment, interest rates and prices, more than 70 percent of Brazilians view the economy in a negative light. However, other recent data suggests that there are many innovative techniques that companies and retailers can use to reach Brazilian consumers. Here are some things to keep in mind.
#1 Offer Groceries Online
If you’re not yet offering your goods and services to customers online, then you might be missing out on a major portion of the marketplace. Data from a recent e-commerce survey indicates that 7 out of 10 Brazilians regularly shop online. What’s more, this trend is now spreading beyond traditional online retailers. The Brazilian Association of Supermarkets recently discovered that online grocery sales have almost doubled in the last year, from 5.5 percent to 9.4 percent of total sales.
#2 Provide a Personalized Experience
While many people are leery of advertisements or shopping experiences personalized for them based on their web habits, Brazilians tend to view it a little differently. Recent data from Salesforce indicates that 75 percent of Brazilians are willing to share information about themselves in return for a better shopping experience. And 80 percent of Brazilians like recommendations based on their purchase history. These numbers far outpace all other countries and present a potential opportunity for companies looking to target these customers.
#3 Cater to Customers Through an App
Like most people around the world, Brazilians are increasingly making purchases not only online, but on their smartphones. But Brazilian consumers are exhibiting interesting trends that may be even more tech savvy. According to recent research, 78 percent of Brazilians prefer to make purchases specifically through mobile applications as opposed to mobile web browsers on their phones. This is well above the global average of 71 percent and should be a cue to retailers that they should explore app development if they haven’t already.
#4 Focus on Brand Experience
Another distinction among Brazilian consumers is their appreciation of an excellent customer experience. In fact, recent data from Salesforce suggests many Brazilian may appreciate customer experience even more than high quality. The firm surveyed more than 6,700 consumers from 15 countries, and 89 percent of Brazilians stated that the brand experience is as important as the products themselves. Among all 15 countries taken as a whole, the number who felt the same was 80 percent.
#5 Place Your Products Strategically
While online is all the rage, physical stores and the shopping experience are still key not only for many retailers, but also consumers. When it comes to appealing to Brazilians in traditional stores, the most important factor to them is the placement of goods within the store. Of Brazilians who responded to a recent survey, 56 percent of them mentioned this as the most important factor in their store shopping experience, followed by fast checkouts (53 percent), plenty of space to move around (39 percent) and good air circulation (38 percent).
#6 Budget Online Ad Spend Upwards
On the opposite end of the spectrum, recent data from 2,106 Brazilians as part of the “Way to Buy” survey shows that online marketing and advertising are also extremely appealing to Brazilian consumers. The survey asked participants about 15 unique types of online buying, ranging from clicking on ads to using Facebook to receiving email messages. Across the board, all 15 types of buying had seen as increase over the previous 12 months.
#7 Show Them Savings
Though much of this data seems to indicate that Brazilians are “buy-happy,” the reality is that Brazilians are increasingly smart with their money and make purchasing decisions based on their budget. Recent data from the National Confederation of Shopkeepers and the Credit Protection Service SPC, as well as the Central Bank of Brazil, showed that the number of Brazilians keeping a budget is on the rise, from 55 percent in 2017 to 63 percent by the end of 2018. This indicates that appealing to Brazilian’s sense of fiscal responsibility may be a smart strategy for retailers.
#8 Embrace Diversity
A final strategy that retailers seeking to appeal to Brazilians may want to consider is to show diversity and equality in their advertising and marketing campaigns. Brazilians increasingly identify these issues as important. Recent data from Samsung indicates that 85 percent of Brazilians think it’s important for brands to show diversity in their communications. And more than 80 percent think that brands who show diversity indicate that the brands respect people and their differences. Thinking outside the box in this manner with advertising may just give your company the edge among Brazilian consumers.