Serving the Expanding Middle Classes: Targeting Aspirational Brazilian Consumers
The rise of the new middle class in Brazil is growing exponentially. For the first time in history, they account for more than half the country's population. This has created a vast market which is driven by their specific needs and aspirations. Developing a detailed understanding of their attitudes and behaviors towards consumer goods will be key for both industry and marketing personnel.
- Gain a deeper understanding of the market and reach consumers through acknowledgement and giving them ways to add sophistication to their daily lives.
- Target active, financially independent, time-poor women by understanding their need for convenience, affordable luxury, and new experiences.
- Enhance your market positioning by learning from manufacturers’ recent successes in targeting the middle classes, reducing the risk of NPD failure.
- Learn how to tap into the growing importance of the digital channel as a means of engagement.
- Learn how to address middle class consumers’ personalization needs with more creative and engaging retail concepts.
The middle classes in Brazil are highly quality-focused, and have shown a particular willingness to trade-up when value can be demonstrated. Several companies are moving to capitalize, but opportunities still remain.
Women are a group that have become particularly empowered by this defining trend. They, like men, are experiencing a growth in disposable income due to wage rises. Crucially, they exert considerable influence on many household purchasing decisions, making them the guardian of the household budget.
For many consumers, new wealth has brought new aspirations. There are numerous opportunities for the FMCG sector to take advantage, quickly responding to new needs and shaping their purchasing behavior.
- What are the socio-demographic and economic factors that serve to define the emerging middle classes in Brazil?
- What are the evolving needs and aspirations of Brazilian middle class consumers which are stemming from recent social and economic changes?
- What products are currently satisfying Brazilian middle class consumers’ needs?
- Which market segments offer promising opportunities to extending pre-existing products and where might launching new products be more effective?
- What marketing strategies should be adopted by both local and global companies that want to expand in such a promising market?
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