How Brands Help New Consumers in LATAM

ALEJANDRO TANCO
Director Firefly Practice, Andean Region,
Kantar Millward Brown
Alejandro.Tanco@fireflymb.com


Innovation, disruption, equality, inclusion, entrepreneurship, opportunity, status, and individuality… these are some of the many words acquiring a new meaning in a continent characterized by being outside global conversations and where communication and brand building result from discussions that frequently do not take it into account.

However, little by little this market is becoming interesting; economic growth is starting to create a middle class eager to access a glamorous lifestyle, reflecting success and disruptive of previous generations.

We are seeing consumers who consider opportunities and follow new consumption rationales that represent a change of values. We are not only speaking about an increase in purchasing power, but also of a new consumption logic.

From this perspective, what made a brand significant for consumers is changing, given the new values emerging in this context of opportunity and where entrepreneurship, persistence, effort, and recognition have just begun to be appreciated. In a nutshell, we are at a time when several ideologies coexist, and where the uncertainty of the future makes strategies more and more complex.

MEANINGFUL DIFFERENTIATION

The challenge for brands is to become – or keep on being – the reference for consumers who are seeking new discourses that will allow them to express themselves, and justify their new desires and needs from a more individualistic perspective. From this point of view, it is worth considering to what extent a brand is still meaningfully different.

In this new reality, it is interesting to observe how consumers do not seek brands for them, but like them, brands that manage to speak in such a way so that consumers recognize their individuality. Here, there are two aspects to be considered:

On the one hand, there are brands that have achieved success through their ability to be consistent and innovative, like in the technology segment. Brands such as Apple become a symbol of entrepreneurship, an example of the possibility of making dreams of success come true and of creating opportunities.

On the other hand, local brands that are close to consumers have succeeded in adapting to change and defeating competitors. These brands are not only admired because of their capability, but as guides for consumers who wish to purchase products that represent an elevation in their lifestyle. What consumers are looking for are local brands that help them justify this new kind of consumption.

All of this makes sense when we get to communicate in a clear and simple way with our consumers. We need to take into account that we face a group of individuals whose relationship with the brand is slowly migrating to a more emotional connection.

In order to connect with this new consumer, brands should bear these three factors in mind:

  1. They should transmit simple messages that also help to justify a more sophisticated consumption.
  2. We are seeing consumers move from a group/supportive ideology to an individual one.
  3. Brands need to be admired and stay close – the feeling that they are in reach makes them relatable and therefore lovable.

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