3 Things You Need To Know About Latin American Digital Consumers – Forbes
Latin America is in the early stages of its digital commerce story with the tale being woven by the earliest of adopters in the region, who tend to be both younger and more affluent.
In fact, wealth and youth are more highly concentrated among digital consumers in Latin America as compared with their non-digital counterparts. Latin American digital consumers are more tightly concentrated in the 25-34 age bracket than other regions. In addition, the average income for a Latin American digital consumer is USD42,000, about USD14,000 more than their non-digital consumer counterpart – the greatest disparity found between the two groups in any region.
Therefore, winning with digital in Latin America is about converting these young, affluent, digital-savvy consumers. In order to assist companies and brands with reaching this emerging consumer, Euromonitor International conducted proprietary segmentation analysis to better understand their defining characteristics, motivations and preferences. Expanding on the Latin American digital commerce insights I presented at Forum E-Commerce Brasil last month, below are three insights about the savviest digital consumers in Latin America.
1) Social media is more important than email
Four-fifths of Latin American digital consumers report visiting or updating a social media website daily on a computer as compared with 65% of digital consumers in other parts of the world. Like they do with computers, Latin American digital consumers use mobile devices most frequently for browsing the internet. However, using a messaging app as well as visiting a social network was ranked higher than one of the mobile phoneâs first use cases – sending or receiving emails. Social sharing is the third most popular activity on computers after surfing the internet and emailing, according to Euromonitor International.
Social media is more intertwined in the daily lives of Latin American consumers than digital consumers elsewhere. In fact, this channel is emerging as a more important avenue for reaching consumers than even direct email marketing depending on the device. Given the popularity of such platforms, it is important for brands to move beyond viewing these platforms as merely a consumer service portal to instead building a brand presence that will enable it to engage with consumers throughout the purchase journey.
2) Latin American digital consumers are more open to targeted ads