Unveiling Transformative Megatrends in Latin America

Delivery

This report comes in PPT.

Key Findings

E-commerce gains relevance but physical stores remain vital

Access to financial services has fuelled the growth of e-commerce in the region. In response, companies have expanded their online presence and embraced social commerce, capturing consumers' attention. Despite this shift, physical stores remain essential. Shopping as a leisure activity offers key socialisation opportunities, and consumers continually seek new experiences.

Technology is empowering a new era of digital living

Advancements in technology and greater access to the internet and devices in Latin America are driving the adoption of digital living in the region. Through AI, fintechs, social media, augmented and virtual reality, technology is providing a solution to many of today's challenges in the region. Digital solutions are facilitating better access to financial services, goods and services, and information, empowering consumers to make better informed purchasing decisions.

Convenience grows as consumers are looking to simplify their lives

Consumers in the region are experiencing profound changes driven by inflation, digitalisation, and evolving household dynamics. Single-person households are growing faster than the global average. As a result, consumers are increasingly concerned with saving time and mental energy, not just money. Categories and formats are evolving, along with the way products and services are searched for and purchased, increasingly shifting towards an all-in-one concept.

Latin Americans remain financially cautious amid ongoing instability

As shocks from inflation and high interest rates persist in the region, Latin American consumers are not yet ready to splurge. Having endured constant economic and political turmoil over the years, they are cautious, knowing that prosperous times tend to be short-lived before the next shock arrives. Less than a third of consumers in the region feel financially comfortable and able to regularly save a portion of their income.