Euromonitor published some interesting studies this year (2015) related to life in Latin America. Their findings? Latin America is a consumer market is the size of China. Spending is high, savings are low. Urbanized population with large working age population. Check out more with their datagraphic here.
Other studies show that 50% of population across the region have internet access and the average age is below 30. Millenials (the demographic cohort born between 1980 and 2000s) are of strong interest to marketers (and companies) looking to expand their presence in the region.
Our take on the region? Risk and reward. Know your market and make real connections with people in those markets. Mitigate risks both quantitatively and qualitatively. Observe trends but know and promote how your product/services meets the unique needs of those markets.Embed from Getty Images