Latin Americans are Early Adopters of Technology Items and Home Electronics
Covering 7.6 million affluent adults, top management and business decision makers in Argentina, Brazil and Mexico, Synovate PAX provides international marketers with important information about these high value audiences.
Some examples of the survey results:
PRODUCTS AND SERVICES - Who Owns What?
Personal ownership of high end goods, including technology items and home electronics, is important to many Latin American elites, who are typically early product adopters, a highly important segment to marketers who sell upscale items. The survey results indicate:
- Two thirds of Latin American elites own a desktop PC (rising to three quarters in Argentina), while another one in five have a notebook computer
- 69% own either a laptop, a notebook or a desktop computer, rising to 82% among Top Management
- Almost two in five have a mobile phone with Internet access capability plus a camera
- 29% of Latin Americans own a digital video camera, with 42% owning one in Mexico
- DVD players/recorders are in 35% of elite homes ˆ jumping to 52% in homes with a Top Management elite
- Flat screen TVs are in 35% of elite homes, and 48% of Top Management‚ homes
- Over three-quarters of Latin American elites own one or more cars, rising to 93% ownership amongst Top Management.
SPENDING & LIFESTYLE - How do they spend their time and money?
- 18% of elites say they own quality/designer clothing items worth over $200, rising to 35% of Top Management
- 21% of Top Management own quality/designer accessories or footwear, and 21% own jewellery worth over $1,000
- 14% of Top Management owns a luxury watch worth over $1,000
The relatively recent rise in the consumer credit business in Latin America may have some bearing on their spending behavior.
“The data shows that credit card ownership among upscale consumers in Latin America is strong,” said Steve Garton, Global Head of Media at Synovate.
“Current ownership is high, with 59% of all elites being the named owner of a card. That figure jumps to 73% among Business Decision Makers,” he said.
- Two-thirds have been to the cinema in the past six months, rising to 79% among Top Management.
- Over one-third have recently visited museums or art galleries, and an equal amount have been to the theatre (51% of Top Management)
- 36% visited museums or art galleries (40% of Top Management) and 20% attended a music concert (26% of Top Management)
- 12% are members of a social club (18% of Top Management) and 10% are members of a sports club (14% of Top Management)
- Only 12% of affluent Latin Americans have traveled abroad by plane in the past
year though 35% of Top Management flew once or more
- In the past four weeks, less than one third of Latin Americans surveyed had consumed wine, though the figure rose to 45% among Top Management
- Local beer is the favored beverage, drunk in the past four weeks by 37% of elites and 42% of affluent Brazilians
- Tequila is only popular in Mexico, with 20% of elite Mexicans having consumed tequila in the past four weeks.
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