Published on : Feb 12, 2018
Albany, New York, February 12, 2018: A new research study that offers valuable information on marketing to the middle class in Brazil has been added to the comprehensive database of Market Research Hub (MRH). The report titled “Marketing to The Middle Classes - Brazil - January 2018” studies the spending habits and buying behavior of Brazilian middle class, and offers recommendations to stakeholders looking to leverage the available opportunities.
According to the report, consumer spending in Brazil has been beset with macroeconomic challenges. The country has struggled economically in the last five years or so, and the slight recovery has failed to induce confidence among consumers. Economic instability has led to a decline in consumer spending, especially on luxury goods and services. Online stores that offer value-for-money deals have been able to grab consumer attention, however, brick-and-mortar stores have failed to stay profitable. The broader challenges with the Brazilian economy can hurt the interests of the business community in the country, as the middle class is wary of making purchases in the short term.
The report opines that brands are turning to innovative methods of marketing to stay competitive in a sluggish market. Use of social media platforms and chatbots has increased. There is also a growing emphasis on leveraging the available mediums of marketing to create brands awareness and brand loyalty among consumers. As the at-home entertainment options are increasing, brands are focusing on offering marketing content through popular online videos and news pieces. The report recommends brands to create highly targeted discount and loyalty programs to appeal to the average Brazilian consumer. An example of this is the growing popularity of used products among parents with children under the age of 3.
According to the report, online mediums of marketing will continue to play a greater role in Brazil in the future. A large section of Brazilian consumers put a heavy emphasis on online discounts before shopping for any product. Comparison of the price of a product across different e-commerce websites is a common practice among consumers. Products that have a high rating and positive reviews account for higher sales, which has meant that brands are paying a lot of attention to ensuring a positive consumer experience.
Overall, the report is a holistic source of information and analysis that uncovers the key factors that marketers should keep in mind while offering their products to the middle class demographic in Brazil. Stakeholders can gain reliable and transparent insights on the needs and preferences of middle class population in Brazil.
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