New opportunities for Italy in Latin America
A few reasons why engaging with local consumers early on can produce long term benefits
New data released by Euromonitor have calculated that among Latin American 171 million households 36.4 million have an annual income below US$ 5,000, while more than 64 million reach the US$10,000 level. However, the existence of more than 87 million middle class homes with household incomes swinging between US$10,000 and 45,000 (and with nearly 60 per cent of them concentrated in Brazil and Mexico) inevitably transform the continent into a promising lucrative marketing target.
Some marketing strategists have recently started arguing that "engaging with these consumers early on can produce long term benefits," especially for those who will be convinced to move from low-priced purchases to high-margin products and services. If it is true that, in Latin America, "middle class consumers are interested in convenience and are increasingly willing and able to pay for it -good customer service, a wide product range of high quality goods with a nod to design will have broad appeal," Made in Italy should do its best not to lose this unique opportunity.
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