New marketing director for Uber, promotions at PepsiCo & more changing places Latam. People change positions, get promoted or move to other companies. Portada is here to tell you about it. Check out last week’s Changing Places Latam here.
New Marketing Director at Uber
Uber has announced the arrival of Felipe Burgaz, who will take on the role of Marketing Director, Latin America. He has three decades of experience in the technology, CPG, and beverage industries, and he’ll be in charge of promoting Uber’s products and services in the 15 markets where it is present. Burgaz previously served as Marketing Director for the Mexican region at Amazon.
Promotions at PepsiCo
PepsiCo has promoted Ricardo Arias-Nath from SVP / Chief Marketing Officer & GM Beverages Latin American Markets to SVP / Business Strategy and Transformation, Chief of Staff, Latin America. He first joined the company in 2008.
In addition to Ricardo’s promotion, colleague Eric Melis, previously Sr. Marketing Director, Carbonated Soft Drinks Category, Latam Region, has announced a new role at PepsiCo. He is now VP, Marketing, PepsiCo Foods, Central America, Caribbean & Southern Cone.
And More Changing Places Latam
Payment solutions company Ingenico Group Mexico has tapped Rodrigo Islas as its new Marketing and Communication Manager. He previously filled the role of Brand Manager at American Express Mexico.
The Coca-Cola Company has promoted Constanza Flores to Senior Director, Fanta Latin America. She first joined the company in 2009 as Knowledge & Insights Director, South America, and most recently served as Marketing Director, Sparkling Beverages, South America.
We discussed consumer loyalty with Roberto Muñoz, Head of Travel at Puntos Colombia. In this insightful interview, Muñoz shares ideas and learnings about loyalty programs.
By guest contributor Alejandra Velazquez
Consumer Loyalty: Can’t Buy Me Love
Customer Loyalty Reward Programs have become a necessity in this fast-paced world of marketing. Thanks to e-commerce, consumers have a thousand different choices at arm’s length, each claiming to be better than any. But the only way for consumers to marry your brand is by offering them something greater. Something beyond just added value, more significant than the menial transaction of purchasing a product. A prize for choosing well.
Roberto Muñoz knows how to keep consumers engaged and coming back. He is the former strategist for Club Premier, Aeromexico’s loyalty program. It was so successful it became a company of its own. Today he’s the Head of Travel and Banks for Puntos Colombia, an ambitious nationwide implementation whose motto is granting you points “for living.” It’s an alliance of dozens of restaurants, banks, gas stations, clothing and apparel stores, and lifestyle companies.
PC effectively lets users accumulate benefits by purchasing virtually anything with either an affiliated card, or any card at the right place. Joining takes a simple online registration, and the points are redeemable as cash. Simply put, it’s a powerhouse venture, with the power to engage and captivate an entire country. “Getting benefits and rewards for everyday activities is the single most important thing to unify frequent customers with newcomers and infrequent users,” says Muñoz. In this article, he shares a few of his insights and experience with Portada.
Getting benefits and rewards for everyday activities is the single most important thing to unify frequent consumers with newcomers and infrequent users.
From Frequent Flyers to Frequent Buyers: How to Make Consumer Loyalty Programs More Inclusive
One of the barriers of loyalty programs is that people often consider them to be an elite benefit for privileged customers. They come off as unattainable. Consumers feel like they’ll need to travel once a week in exchange for a free local flight. The benefits seem like they might be a long way down the road, and not worth working for. So Roberto Muñoz had to figure out a way of making all consumers know not only seasoned millionaires get rewards. “Loyalty programs such as Club Premier used to be focused on elite 40-50 y.o. consumers with spending power,” says Muñoz. “The type design was a fancy-looking cursive and everything was designed to look exclusive. However, the younger audiences never felt a connection with the brand. They felt like the program was not meant for them. We had to develop a rebranding without losing the elite feeling but inclusive for lower-profile, younger audiences.”
For Club Premier, the key was rewarding not only frequent flyers, but also frequent buyers. Muñoz explains: “We thought, how do we incorporate a travel rewards program into people’s daily lives? By offering them a very accessible credit card without minimum balance or positive credit history requirements.Users get points every time they purchase anything with it. With that execution, we went over 300% card affiliations and incorporated many new clients into the airline.” But it’s not just about the card, it’s also about the places willing to offer something in return. Just like Puntos Colombia and its partnerships, it’s important to find the right allies for your program. For example, bookstore Gandhi is one of Club Premier’s greatest allies, offering premier points just by purchasing books.
Latam: The Market of Immediate Rewards
Puntos Colombia offers points you can use as cash, just like BBVA does with its credit cards. Many users redeem their benefits just as soon as they’ve gathered enough to purchase anything. But why won’t people wait until they have enough points for something much bigger? The answer lies in the cultural differences between the U.S. and Latin American markets. Muñoz explains: “We’ve done much research on the subject of savings culture. The U.S. market is really mature in terms of loyalty. Customers are very aware that the goal is traveling for free by accumulating miles. They see the big picture and understand the value of saving. However, the Latam market doesn’t share the same mindset. They want to know what prize or reward they’ll be getting, and they want it immediately, by tomorrow.”
The U.S. market is really mature in terms of loyalty. […] However, the Latam market doesn’t share the same mindset. They want to know what reward they’ll be getting, and they want it immediately.
According to Roberto Muñoz, when people get as little as 200 points, they immediately try to use them on a quick run to the convenience store. Once again, this responds to the fact that the Colombian market is—or was—used to seeing consumer loyalty benefits as something unattainable. They’re not used to the rush of receiving incentives. So, they become eager to spend whatever they get, whenever they get it. “In Puntos Colombia, I learned the Colombian market doesn’t even know banks and retail stores also have loyalty programs, they think it’s just for airlines,” says Muñoz. Only time and effective implementation can contribute to getting consumers more used to the exchange of benefits.
Experiences: The Future of Consumer Loyalty Rewards
Not everything is about points for cash or free flights. On the other side of the Latam coin, mature markets have become jaded. High-profile consumers with spending power have little or nothing to gain from a the occasional freebie. So, what do you offer someone who has everything? Many consumers have been earning and accumulating rewards for decades. Is there room for innovation? Muñoz comments: “We discovered many clients had a common issue: they had too many points and didn’t know what to do with them anymore. It’s like “I travel so much, I couldn’t travel any more”. So we started offering them something they didn’t have: exciting new experiences.” According to Roberto Muñoz, offering experiences as rewards is a very underdeveloped area of consumer loyalty programs. The field is ripe for exploration.
Muñoz developed some of the first experiences for Club Premier some years ago. “We planned an exclusive trip to Vegas in a private jet for clients. There was an Elvis impersonator and karaoke on board. They had a limo waiting for them at the airport with Moët and other drinks. There was a special welcome dinner at the hotel. High-profile customers look for differentiating experiences, and this really added value for them and the program.”
We started offering them something they didn’t have: exciting new experiences.
But are experiences limited to high-end consumers, or can regular users also participate for fewer points? Is there a way to include and rank users at the same time? Now there is. “At the beginning, they were focused on a very, very exclusive target,” comments Muñoz. “Now they’re more massive.I classify experiences into micro and macro. Users can exchange fewer points for a day at the spa, or dinner planned especially for them by a chef.”
Roberto Muñoz’s Best and Not-so-Great Loyalty Strategies
Like in anyone’s career, not everything has been smooth sailing for Roberto Muñoz. Here are a couple examples of his most and least successful strategies. It’s always good to remember the greatest learnings come from seemingly terrible mistakes. In Roberto’s words:
“Our most successful strategy has been letting users complete their points with actual money. It’s one of the best new options on the market. That way, customers don’t have to wait until they accumulate all necessary points for the reward, they can just pay the difference in cash. Maybe you only have half the points and you can pay to complete the other half and collect the reward.”
And the least successful?
“Our least successful strategy has been trying to push the wrong routes onto the wrong target. We released “fly to Europa” campaigns because it was aspirational and exciting. But many customers that didn’t fit the profile to go to Europe also received the ads and the effect was very negative. We had comments like, “how can you people offer me a trip to Europa if you gave me a credit card with a 5,000 pesos limit?”. It was one of our worst moments. We learned so much about segmentation strategies and cross-marketing with the bank. They should’ve let us know whose profile wasn’t right for the offer. This was about two years ago.”
Roberto Munoz, Head of Travel at Puntos Colombia, will be one of the dozens of brand marketing innovators present at Portada Miami on June 4, 2020. If you are interested in participating in Portada Miami and/or in Portada’s networking and knowledge-sharing platform with brand marketers please contact us here.
Consumer confidence has increased in Colombia and Peru, Mexican users are overwhelmed by banking service options and more consumer insights. A summary of the most relevant consumer behavior research. If you’re trying to keep up with the latest happenings, this is your one-stop-shop. Check out the previous Latam consumer insights roundup here.
Retail Marketing firm in-Store Media México has found that 62% of Mexican consumers take the environment into account during purchase decisions. In fact, these shoppers would rather shop at supermarkets or stores that actually care about protecting the planet. The trend also shows consumers’ interest in finding new brands that are committed to the environment at least to a degree.
However, only 12% of Mexicans recycle all their plastic waste, has found an annual survey by American plastic-based packaging company Hi-Cone and YouGov. Over 5 thousand consumers participated in four countries: Mexico, Spain, U.S. and U.K. While 12% of Mexicans recycle their plastics, this is true for 26% of Americans, 38% of Spaniards, and 45% of Brits interviewed. Finally, 11% said they do not recycle any plastics.
According to a Global Report on Consumer Confidence by The Conference Board and Nielsen, consumer confidence suffered a slight decrease in Latin America, from 92 points in Q3 2019 to 91 in Q4. However, it increased in Colombia, going from 99 to 102. Chile had the lowest index at 67, Mexico dropped from 98 to 90, and Peru went up from 92 to 97.
ICT company Fujitsu‘s global survey “Technology and the New Banking Customer” shows 39% of Mexican finance service users believe the amount of available solutions is overwhelming. In addition, only 33% of respondents believe their bank understands their needs. Two-thirds of consumers (66%) said they plan to reduce their number of bank services providers to one over the next 5 years.
New CEO for LALA, marketing appointments & more changing places Latam. People change positions, get promoted or move to other companies. Portada is here to tell you about it. Check out last week’s Changing Places Latam here.
Mexican milk company LALA has announced that Arquímedes Celis Ordaz is officially staying as CEO, a position he filled tentatively after the exit of Mauricio Leyva in December 2019. His main responsibility right now is to reassure the company’s investors after a 3% drop in value since December 2018.
Citroën has hired Valère Lourme as Marketing Director for Argentina. She previously led marketing, communications and customer satisfaction at Volvo Group. She has also filled important roles at Renault Trucks and Total.
Customer experience solutions company Alorica Inc. has announced that Brian Delaney has joined the company as President of Alorica’s Latin America & Caribbean Operations. In this role, Delaney will oversee 15,000 employees across seven countries in which Alorica operates.
Tech firm Ricoh has promoted Kristal Piccolo to Senior Manager, Product Marketing Strategy, Latin America, reported AdLatina. She first arrived to the company in 2009. Previously, she worked for IBM Venezuela for three years.
AB InBev has promoted Pablo Firpo from VP of non-alcoholic beverages for the Rio de la Plata region to President of the same category in Brazil. He has been with the company for 18 years.
Portada Council System members have voted for the topics to be discussed at the three main speaking slots at Portada Miami on June 4, 2020. The topics have to do with organizing companies around digital marketing efforts, identifying brand differentiation opportunities in digital, and maximizing results on mobile.
Last month, Portada announced the new structure of the four Portada events in 2020. Council System units oriented to United States markets chose the three main topics to be discussed at Portada Los Angeles on April 2. Now, we are pleased to announce that the brand marketers in Latin America-oriented Portada’s Council System have voted for the topics to be discussed at the three main speaking slots during Portada Miami on June 4, 2020.
“The brand marketers in our Council System play a crucial part in determining the topics of our events. By having these leading practitioners suggest and vote for the themes of the three main speaking slots, we make sure that brand marketing, tech and media executives get the most relevant content available in the marketplace,” says Marcos Baer, president of Portada.
Below are the three winning topics as well as comments from Portada Council System members as to why these reflect their interests.
Portada Miami Keynote: To “win” in digital: how best to organize companies and marketing organizations
I’d like to have a better understanding about the way companies should be organized to face digital dynamics upon consumer evolution.
Digital is very wide and companies need to focus their investment in order to have a positive ROI and win in digital.
The role of CRM’s: It’s critical to understand how CRM programs / smart data can help to bring and maintain more users for the brands.
Consumer Insight Highlight Speaking Slot: Which digital efforts can truly add value and differentiation opportunities for your product/brand?
I believe to find differentiation opportunities we have a strong need to accelerate our knowledge about what is gaining relevance (in the digital era) from a consumer standpoint and the way the brands need to connect within this new ecosystem.
What and how to invest means everything regarding investment in digital media.
Digital media is overwhelming: How can we identify correct use on the channels where customers appreciate it?
MarTech Solution Spotlight: Maximizing marketing efforts and results on mobile
Mobile is/will be the most important digital media asset and we have to make sure we optimize best practices.
Partnerships and alliances to maximize marketing efforts. Cross companies marketing trends customization, value of loyalty for CPG.
Mobile is 70% of user traffic today. Users are growing the mobile market and companies are not adapting as fast. How can we identify, implement and foresee solutions.
Portada Events in 2020 will be a unique experience. First, the three different Council System bespoke workshops will take place in the morning. Also, brand marketers and best-of-breed marketing services suppliers will have 1:1 meetings and attend VIP networking functions. In addition, attendees will learn at four exclusive and highly-curated speaking slots on the themes outlined above, which were voted by the over 100 brand marketers in the Portada Council System.
More information about the structure of speaking slots at Portada events:
Keynote: 45-minute session. An overarching topic of paramount importance to the brand marketing community to be addressed by subject matter experts who provide innovative solutions.
Consumer Insight Highlight: 25-minute session. Consumer Engagement and sales conversion are the ultimate objectives for brand marketers. This session will provide key and fresh consumer insights that foster the understanding of consumers and provide actionable tips for marketers.
MarTech Solution Spotlight: 25-minute session. Technology plays a crucial role both for consumers as well as an enabler for marketers. During this session, a major brand marketing thought leader will reveal the latest trends on the use of technology by consumers and brands.
Partner Thought Leadership Presentation. An opportunity for a Portada partner to gain major exposure in front of a listening audience of major brand marketing executives.
For more information about getting involved with Portada Miami on June 4, 2020 please contact Sales Coordinator Leslie Zambrano, or click on the banner below.
This week, Saint Valentine’s Day insights, interesting TV data, and more. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop. Check out the previous Latam Consumer Insights Roundup here.
Saint Valentine’s Day Insights
Four out of ten Mexican consumers said they intended to make a purchase online for Saint Valentine’s Day. Almost two thirds (60%) planned to make purchases both on and offline, and only 14% intended to get something at a physical store. The research, by the Mexican Association of Online Retail (AMVO), also found that 40% of consumers expressed they’d spend $351-$500 MXN on gifts for Saint Valentine’s Day. A smaller portion of the population (15%) planned to spend up to $2000 MXN.
Procolombia, an organization that promotes exportation of Colombian goods, has also provided Saint Valentine’s Day Insights. According to their data, the most popular products in Colombia around February 14are (in that order): flowers, chocolate, perfume, lingerie, jewelry, stationery, balloons, and plush animals.
Mexican TV Viewers and Online Shoppers
A recent survey by Mexico’s Federal Institute of Communications (IFT) has found that 72% of Mexicans watch open broadcast TV. According to the study, TV consumption grew by 8% since last year. In fact, 93% of respondents own a TV. The top viewing times for consumers are weeknights and weekend afternoons. Consumer’s preferred categories are news (44%) and movies (40%).
In November 2019, householdconsumption in Mexico grew by 1.1% compared to the previous year. This is according to Mexico’s National Insitute of Geography and Statistics (Inegi.)The most relevant category for consumers was that of imported goods.
According to a recent study about online behavior by InternetMX, ecommerce in Mexico is now worth $299,660 million MXN. This represents a 22% growth compared to the previous year. Additionally, 80% of 83 million Mexican internet users have made a purchase online in the last 12 months.
At the 2019 Portada Event in Mexico City, we had an insightful Q&A session with Isaias Araiza, Manager, Destination Marketing LATAM at Hilton. He shares his know-how about destination marketing in Latin America, media mix, hotel sites vs. OTAs and more.
Interview conducted by Alejandra Velazquez
Destination Marketing: Tailoring the Message
In what ways are the Hilton advertising campaigns different for Latin America and for the rest of the world?
For Mexico and Colombia, it’s important not just to translate, but to adapt the message. You have to be very aware of the kind of words and ideas you are conveying, otherwise, your audience won’t feel connected. They are often very nationalistic and proud of their identity, and the communication needs to be respectful of that. We always cast talent that looks and feels Latin for local executions. Anna Kendrick is our global image, but if we featured her on Hispanic campaigns, people wouldn’t relate. You can’t just take it for granted. You need to speak their local language.
It’s important not just to translate, but to adapt the message.
How about between Mexico and Colombia? Can the same message work for both?
The message and creativity can be the same. However, you have to pay attention to specific local language nuances. We’ve had issues with punctuation throughout Latin America. For example, many countries separate decimals with a comma, not a dot. So if we separate thousands with a dot, instead of three thousand pesos, it would end up looking like just three. We had to be meticulous with that. I always tell customers in the U.S. that they have to take into account the actual day-to-day grammar usage, not just what Google or the [Real Academia Española] says. We might even have legal problems if there’s a mix-up.
Hilton’s Media Strategy for Destination Marketing
What does your media mix look like in Mexico?
To promote destinations, we have an upper-funnel, massive media strategy. We’re trying to create brand awareness. Hilton is unequivocally recognized as a global hotel chain, however, its specialized portfolio brands are still not top-of-mind for audiences. For example, we want to make clear that Doubletree by Hilton is a part of our family. We still conduct a great deal of offline traditional marketing: printed magazines, in-flight reading material, billboards, OOH at airports, digital and offline radio, and Spotify. Absolutely no television. A bit lower on the funnel, we have digital performance, targeting, training desk…, all things reach-media related. We target customers depending on the kind of hotel we try to promote.
How about your video content strategy?
We’re basing our contents around “Rediscover Mexico”, based on promoting the uniqueness of the destination. As of today, we have very little video content, but for this year we’ll be implementing a much stronger strategy. We need to capture customers during the “dreaming phase” and help them develop their journey through special offers. We’ll be offering two proposals: one focused on the destination and favorite places, and another with local stories and characters, influencers, experiences, and random tourist video tell-alls. Like, “tell me how everything was, what you did, where you stayed”, etc.
We target customers depending on the kind of hotel we try to promote.
The Online Travel Agencies Controversy
Do you have a strategy to strengthen purchases on the hotel website vs. using OTAs as intermediaries? How do you fight the generalized idea that OTAs are much cheaper than buying directly at the hotel?
OTAs have spread the idea that their rates are cheaper, but that’s not true. Hilton has a strict parity policy, which means they offer the same rate on their website than anywhere else. This means a single rate anywhere online. There’s no way an OTA can offer a better rate. Expedia and other OTAs take a very significant cut out of the deal, but the price is the same for the general public. Of course, Hilton would prefer selling D2C.
A few years ago we launched a campaign called “Stop Clicking Around” and the motto was “don’t even look for a better rate, here’s the best offer you’ll find”. Same with the loyalty program. The only people who may get better rates than anyone else are the members of our Honor Program. Also, Hilton offers discounts and rewards for customers who purchase in advance. We have strong campaigns to fight OTA preference.
Is there a way to cut away from OTAs?
Maybe in the long run, but definitely not right now. Since they used to be the only online booking platform, the industry let them grow without limits and now they’re a necessary evil. They became a monster and we’re doing everything we can to control it, but the truth is… it does generate great volume. The problem is, a company should never earn much greater revenue from outside channels than from direct channels. The goal right now is not renouncing OTAs, but rather pairing the revenue mix to a much fairer amount. We’ll implement the strategy to get more flow into our home by generating content, launching informative campaigns, and fostering organic traffic to our sites.
Business VS Leisure
Could you give us cold hard numbers of the business vs. leisure categories for online purchases?
It’s hard to get precise data because Mexico is a very dynamic destination in terms of the business and leisure mix. For example, Hilton Reforma is for both sectors because of its privileged location. On weekdays it’s all about business, and during weekends it’s a leader of the plaza. Some hotels in Querétaro are really close to industrial parks and are purely for business, but we also offer benefits if you prolong your stay until the weekend. For example, all users may accumulate loyalty points by using hotel amenities, so they’ll end up redeeming them on future family trips. It’s almost impossible to get an average.
Marriott has a very strong minority inclusion program. Do you also have a competitive strategy?
We have an entire marketing section called Diversity and Inclusion, which covers all the spectrum: from commercial strategies to pricing, marketing, special offers, etc. We definitely offer special programs and rewards for our diverse program. Not doing it would be a mistake.
Learning From Mistakes
What was the mistake you learned from the most during your career?
I used to be a marketing director at one of our downtown Mexico City properties. We had a major issue with public protests and demonstrations. It was impossible not to address the issue. So we released campaign after campaign with alternative routes and all kinds of warnings. But instead of helping, it would highlight the problem. We spent too much time trying to solve it until we realized there was nothing we could do to soften the blow of traffic and blockades. We suffered several cancellations due to expecting an imminent protest, and in the end it wasn’t even as serious as it seemed. We’d live in fear and uncertainty.
Until we just accepted the issue instead of trying to cover it and we implemented a strike insurance: if your event had been in any way affected due to the circumstances, you got a discount. So instead of apologizing, we offered post-care. It’s all about the small details. For example, the Santa Fe DoubleTree offers a warm chocolate cookie upon check-in. We have customers married to the brand who come in just for that cookie. Every and any small thing you do for your customers counts.
Isaias Araiza, Manager Destination Marketing LATAM, Hilton will be one of the dozens of brand marketing innovators present at Portada Miami on June 4, 2020. If you are interested in participating in Portada Miami and/or in Portada’s networking and knowledge-sharing platform with brand marketersplease contact us here.
Scotiabank’s sponsorships in Canada and Latin America are focused on sports passion points like hockey and soccer, as well as arts & culture. How do we know this? We talked to Mike Tasevski, VP Global Sponsorships at Scotiabank, and a Portada Council System Member.
Until a few months ago, Mike Tasevski held the position of VP, Market Development at Mastercard. We asked him in what way his current job at Scotiabank is different from the one he had at Mastercard. “At Scotiabank, I have a global role in which I oversee a very different portfolio that is heavily focused on sports passion points hockey and fútbol with a very unique flavor of arts & culture. In comparison to my previous role, where there was a focus on multiple partners, my role at Scotiabank is to establish unique partnerships that will assist in delivering ROI on all channels for our bank objectives including personal banking, wealth and clients…
My role at Scotiabank is to establish unique partnerships that will assist in delivering ROI on all channels for our bank objectives.
Mike Tasevski, VP Global Sponsorships at Scotiabank, will be one of the dozens of brand marketing innovators participating in Portada Miami on June 4, 2020. If you are interested in participating in Portada Miami and/or in Portada’s networking and knowledge-sharing platform with brand marketers please contact us here.
Canada’s Sports Passion Point: Hockey
Scotiabank has billed itself as “Canada’s most international bank” due to its acquisitions primarily in Latin America and the Caribbean, but also in Europe and parts of Asia. We asked Tasevski how Scotiabank’s marketing investment approach to sports passion points differs in all these regions. “The key focus in Canada is hockey due to the popularity of the sport in this nation,” he answered. “People widely consider us Canada’s Hockey Bank due to all our partnerships. Maple Leafs Sports and Entertainment (MLSE) (20-year sponsorship agreement valued at C$800 million, many Canadian hockey teams, the NHL, Hockey Canada) In the South America market, we are investing heavily in soccer (A major partner of Concacaf, Fútbol Club Barcelona (FCB), Costa Rica Fútbol, etc.)”
The Way to Mexico’s Heart: Fútbol
In 2000, Scotiabank increased its stake in Mexican bank Grupo Financiero Inverlat to 55%. Scotiabank lateracquired the Inverlat banking house in 2003, taking over all of its branches and establishing a strong presence in the country. The Mexican bank’s name subsequently changed to Grupo Financiero Scotiabank Inverlat.
“Soccer/Fútbol will play an important role in the Latin American market. For example, there are over 25 million FCB fans in the Mexican market,” said Tasevsi. “Our association with FCB allows us to jointly communicate with the passionate fútbol fan and to educate them on the Scotiabank brand and how we can assist with all their financial needs. Fútbol is key in the Latin Market and we will continue to invest and support the growth of this sport passion point in this market.”
Our association with FCB allows us to jointly communicate with the passionate fútbol fan and to educate them on the Scotiabank brand.
Future Plans to Tap into Sports Passion Points
Spanish soccer champions FC Barcelona have unveiled a new regional partnership with financial group Scotiabank, the first deal struck from the club’s recently opened New York office.
The multi-year agreement will see Scotiabank become the La Liga side’s official partner in Latin America and the Caribbean, and it will work alongside the club to sponsor a number of soccer programs in the regions aimed at underprivileged youth.
Scotiabank will also set up soccer festivals and will support local teams in attending training events in Barcelona. On top of this, customers will receive exclusive ticket deals and competitions.
This week, Mexican consumers have us looking at their behavior. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop. Check out the previous Latam Consumer Insights Roundup here.
A consumer insights survey by in-Store Media has found that Mexican consumers choose brands that take responsibility for the environment. For 62% of respondents, it’s important to shop at stores that take ecological action to any extent. Globally, 70% of consumers are willing to pay up to 35% more for earth-friendly products, and 57% would be willing to adopt ecologic behavior.
According to IDC Mexico, 35% of Mexican consumers use a ride-hailing app such as Uber at least once a week. Similarly, 29% do so four times a week, and 11% use this service almost every day. The company also found that 60% of respondents had over two mobility apps installed in their smartphones. Moreover, 77% of users prefer to use cash as their payment method.
Nielsen‘s data shows that 49% of Latin American consumers feel positive about their financial situation even though certain groups feel like their on “survival mode”. Among Nielsen’s findings, 63% of Latin American women believe a store’s location is a very important purchase driver. Also, 11% of Latin Americans have used an online supermarket, while 43% are willing to try. Interestingly, 42% said they love to try new things. As we could expect from this, 49% are more willing to choose new brands than five years ago.
Household Purchase Intent in Brazil has reached 97.1 points in January according to the Brazilian Commerce, Services and Tourism Confederation, up 1.2% since 2019. Over 34% of Brazilians think this is a good time to purchase durable goods, up 2% since last year.
At the 2019 Portada Event in Mexico City, we had an insightful Q&A session with Germán Villegas, Digital & E-Commerce Manager at Colgate Palmolive Mexico. He shares his know-how for driving growth at the consolidated mega-company, their E-Commerce numbers and investment plans, the future of segmentation strategies, and shares the name of online retailers with innovative tools for marketers.
Interview conducted by Alejandra Velazquez
There’s Always Room for Growth
Nowadays, consumers look for relatable stories, not product descriptions. Keeping this in mind, we asked Germán Villegas how Colgate Palmolive drives growth for such basic necessities like toothpaste and soap.
“We are touching real, daily consumers by leaving aside the old concepts of “perfect smile” with perfect-looking models. At the Portada Brand Star Committee session (one of the three units of the Portada Council System that met in Mexico City during Portada Mexico), we talked about the importance of reaching diverse audiences, cultures, and minorities to make them feel supported and listened. For example, we’re currently running a campaign that no longer talks about 12 hours of protection, fresh breath, or white teeth. It speaks about positivity. In the ad, a plus-sized woman says “when people say my curves are not attractive, I smile”. We want to transcend Coca-Cola-type messages like “you have to be happy”. We’re focusing on giving visibility to the most effaced members of society. That way, we are much more than just toothpaste. We are an optimistic story.”
Germán Villegas, Digital & E-Commerce Manager at Colgate Palmolive Mexico, will be one of the dozens of brand marketing innovators present at Portada Miami on June 4, 2020. If you are interested in participating in Portada Miami and/or in Portada’s networking and knowledge-sharing platform with brand marketers please contact us here.
We’re focusing on giving visibility to the most effaced members of society. That way, we are mucho more than just toothpaste. We are an optimistic story.
“Growth will happen organically and naturally in time. But beyond expecting things to fall into place, we are experimenting with micro trials now that we can. We are developing segmentation strategies with our clients, learning together about the industry’s ROI, and investing micro amounts. That way, we can learn where to invest more precisely. In other words, we pour money into trials little by little instead of betting millions blindly in the wrong place.”
TV vs. Digital Media: Time to Jump Ship?
Colgate has always used traditional TV as its strongest media. What are your offline vs. online investment numbers, and has digital won over television?
“We’re closing 2019 with 30% on digital media and the rest is all offline. I believe television is still pretty strong, above 50%. However, we’re trying to invest a little less on TV in 2020. We’re not going straight to digital all the way, but we’re applying our trial and error strategies to see how far we can go, and perform a lot of focus groups to make drastic but informed decisions.
TV already lost investment this year. I believe the past few years it used to close at 80%, and I think this year it went down to 60%. Next year it might close at 50%. In a few years, there will be very little content produced for TV. The U.S. is already making digital television, which will surely be very attractive to invest in because marketers can program different content for each spectator using digital technology. It might or might not contribute to our television portfolio, but it’s definitely a tendency. “
How do you choose what goes on TV?
“Right now, we’re looking for video production agencies. We’re trying to think digital before TV because we could produce custom-made pieces based on segments. We’ll make many digital pieces for specific targets, and from there we’ll cut a more generic TV ad. We used to make the TV ad and then upload it to the web, but it doesn’t work that way. It’s the other way around. You build a digital strategy based on segmentation. Those measurements help us choose what to show on the much more expensive TV airtime. “
Segmentation Strategies: The Right Message for the Right Ears
Tell us more about CP’s segmentation/targeting strategies. Is there room for evolution?
“Massive service providers like Facebook and Google sell us advanced ‘audiences’. These audiences aim to stop segmenting per demographics and switch to consumer attitudes. For instance, no longer targeting “men 30-45 y.o.” and such, but profiles based on passion points. We can segment per sports fans and athletes, music buffs, art followers, etc, and pinpoint a campaign for each.
We pour money into trials little by little instead of betting millions blindly in the wrong place.
Facebook offers a very interesting product in its portfolio that lets you edit the text of your ad. That way we can sell the same toothbrush by talking about this weekend’s soccer highlights or the newest song from a popular artist. We can write copy as necessary to make it more clickable to the individual seeing it. That’s a great tool.
A good challenge for future evolution is doing regional segmentation. Since marketing is too separated from the media department, it’s an opportunity for the industry. The brand manager could tell us if sales are decreasing in the south, so we could do our research and see why. That way we could develop specific solutions for localized issues. But right now, we still make advertising for the entire country. “
One of the greatest challenges of consumer data collection is the issue of privacy and consent. Today’s consumers are becoming more and more aware of how their information is collected, sold and used for marketing purposes. How can companies overcome privacy issues and harness this information to deepen consumer relationships? Luis Macin, Nestlé Mexico’s VP E-Commerce, talks about Nestlé’s plans to develop wearables for consumer metrics during Portada México 2019.
Interview conducted by Alejandra Velazquez
Problem Meet Solution
Data collection continues to dive deeper into the private lives of consumers and it is only natural that they feel their privacy is being invaded. Audiences find it unnerving when they mention something in conversation only to be offered that specific product online moments later. However, the great thing about wearables is the voluntary data collecting process. When users are nicely requested to share their data, it tackles the issue of consent and privacy. The consumer willingly welcomes a metrics device into the intimacy of their own home and even onto their own body and this is where the true power of wearables for consumer metrics comes into play.
Who Wears Wearables?
The implementation of these devices in Mexico will take off immediately
But once they’re wearing the device, how can brands collect specific data so they know how to target consumers?
The challenge is generating enough engagement so they’ll willingly share their information with you.
“There’s a driver behind every behavior, and each consumer has a different driver” says Macin. “You just have to identify their motivations and categorize them. For example, if your goal is physical performance, we’ll offer you the tools to have more endurance. If you’re concerned about your health, we can measure your BPM to protect your heart. The challenge is generating enough engagement so they’ll willingly share their information with you. You have to put the right cards upon the table, and the decision is theirs.”
Nestlé’s R&D is hard at work on e-health initiatives in Brazil, Latin America’s unofficial innovation hub. Monica Meale, Head of Nestlé Health Science LATAM told NutrIngredients “NHSc has strongly invested in digital innovation. In the last three years, the area increased its investments fivefold”. The company’s research focuses on developing market trends including e-commerce driven products and services, digital innovations (VR nutritional education videos as an example), virtual sign language assistants on websites and contests for Nestlé to collaborate with health startups in creating and designing health programs and activations.
Is Wearable Technology Expected To Drive E-Commerce?
Absolutely. As consumers receive custom-made specific information about their care, they will also receive specific recommendations and tailor-made nutrition plans that will drive e-commerce simply because it’s convenient. According to Luis Macin, Nestlé plans to offer users a holistic experience by incorporating themselves into the consumer’s lifestyle through wearable devices. And once they’re engaged in improving their health through the right diet and lifestyle suggestions – Nestlé’s product recommendations are only one click away. Ordering products will be as easy and embedded into their routine as their morning coffee. While we’re not quite at that level of e-commerce maturity yet but the focus on wearables for consumer metric collection and blending this with e-commerce opportunities is projected to be the next big frontier.
Once they’re engaged in improving their health through the right diet and lifestyle suggestions – Nestlé’s product recommendations are only one click away
Will 2020 be the year of the bounce back after several years of decline in panregional advertising expenditures out of Miami-South Florida into Latin America? Miami continues to have distinctive advantages as a media buying hub, according to Portada’s recently published 2019-2020 Panregional Marketing and Media Report, which provides Latin American Panregional Marketing Expenditures forecasts for the 2019-2024 period.
The 2019-2020 Panregional Marketing and Media Report is a major tool for corporate expansion into Latin America as well as sales-planning/intelligence for marketing vendors offering services to major brands targeting the Latin American consumer. To get more information about the report, please contact Sales Director Leslie Zambrano.
According to Portada’s 2019-2020 Panregional Marketing and Media Report, Miami/South Florida is the largest panregional hub for actual buying (over US $200 million in 2019) as well as for influence over purchasing decisions (over US $ 1 billion). The report also discusses the advantages and disadvantages of Miami as a panregional media hub, according to more than 100 major brand and media agency executives interviewed by Portada.
Portada expects Latin American-Panregional Marketing expenditures to reach US$ 740 million in 2019. Miami continues to be the main panregional marketing and media hub, although Mexico City and other centers have an increasing weight. This is one of the insights of the just-published 2019-2020 Panregional Marketing and Media Report, which provides Latin American Panregional Marketing Expenditures forecasts for the 2019-2024 period.
Portada’s 2019-2020 Panregional Marketing and Media Media Report provides data, intelligence, insights, and forecasts. The report is a crucial tool for corporate expansion into Latin America and sales-planning/intelligence for marketing vendors offering services to major brands targeting the Latin American consumer. The 75-page report includes a market volume and growth forecast model based on a survey of more than 100 brand and media agency executives conducted by Portada, answers a myriad of questions including the six below:
1. What is the size of the panregional marketing sector?
The overall actual Latin American Panregional Marketing Services Sector, understood as decisions taken out of several marketing hubs (*see question 2) including Miami, Mexico City, New York, London and others, has a volume of approximately U.S $ 740 million a year (2019), according to the report. Measured in influence, although not necessarily in direct purchasing power, the brand and media agency executives located at those centers influence approximately US $2.26 billion a year (see chart below.)
2. How is panregional marketing defined? (*)
Panregional marketing is understood as marketing services purchases for two or more Latin American countries by clients (brands) or media agencies located outside of those countries.
3. Which city is currently the largest hub for panregional marketing?
Miami/South Florida is the largest hub followed by Mexico City, New York, London and Sao Paulo. The report provides overall market volumes for marketing decisions taken out of the above hubs from 2016 to 2024.
4. What media category is increasing its share of panregional media buys?
The structure of the panregional media buy out of Miami has changed substantially over the last decade with Pay TV- ten years ago the clear leader – only capturing 20% of the share in 2019 and digital media increasing its share to 60%. The 2019-2020 Panregional Market and Media Report includes expenditures and market share forecasts (2016 to 2024) for the below market services types (both overall as well as for Miami/South Florida): Outsourced Content Marketing Services Outsourced Social Media Related Services Public Relations Services Media Planning and Buying Services Paid Media (Overall) -Print -Pay-TV (Cable and Satellite) -Out of Home -Radio -Sponsorships -OTHER (Including: Movie -Advertising, Inflight, In-Game Advertising) Digital -Social Media -Search -Display -Video -Audio Advertising
5. Does the 75-page research report also provide intelligence on Panregional Marketing Expenditures on the brand/client side?
Yes, the report displays Panregional Marketing Expenditures volume forecasts (2019-2024) for the below ad -categories. -IT/Electronics -Studios/Entertainment -Financial Services -Telecomm -Cosmetics/Fragrance -Luxury -Travel/Tourism -Beverages -CPG Other (including Automotive, Education and Health Services)
6. What other brand related intelligence does the 2019-2020 Panregional Marketing and Media Report provide?
Dozens of examples of panregional (Latin American) marketing decisions by Fortune 1000 companies are provided. Intelligence includes the description of different ways companies structure their marketing organizations targeting Latin American consumers and their marketing decision making as well as from what hub (e.g. Miami, Mexico City, New York etc..) these decisions are made out of.
The 2019-2020 Panregional Marketing and Media Report is a major tool for corporate expansion into Latin America as well as sales-planning/intelligence for marketing vendors offering services to major brands targeting the Latin American consumer. To get more information about the report, please contact Sales Director Leslie Zambrano.
This week, results of the Buen Fin and Black Friday insights. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop. Check out the previous Latam Consumer Insights Roundup here.
According to e-commerce company Mercado Libre, Black Friday is an important day for online retail in Colombia. The company’s data shows Colombian consumers might spend up to 22% more in average than last year, and 70% of Mercado Libre users are expected to complete their purchases on mobile devices. The top categories are expected to be electronics and clothing.
Kantar has announced a 14% increase since 2017 in participation in the Buen Fin, which took place last weekend in Mexico. While Kantar estimates that 80% of Mexican consumers took part in the Buen Fin in 2017, 94% engaged in purchases this year. To get informed about sellers’ offers, 84% of consumers went to a website, 71% chose social media, and 53% headed directly to the stores.
According to the Mexican Secretary of Commerce, Services and Tourism, Buen Fin had much better results than last year. Total sales amounted to over 120 billion pesos, almost 8% more than last year. Also, it was indicated that 63% of consumers made their purchases in cash.
However, the good results are due to consumers spending more, and not necessarily because there have been more shoppers. Mexico’s Profeco has announced that only 40% of the population made a purchase during the Buen Fin, and 26% of those consumers bought clothes or shoes. The Secretary of Economy outlined that other popular products were electrical appliances, TV screens, multimedia devices, and furniture.
A survey by VTEX has concluded that e-commerce sales in Chile have decreased by 70% after the start of the political crisis on October 18th. Reportedly, numbers were positive up to then.
Research by IPSOS and Comscore Mexico has found that during Q1 2019, 67% of Mexicans had access to cable or paid broadcast TV, 80% had access to national broadcast TV, and 75% could access the internet. In addition, only 25% of those exposed to paid TV don’t have an internet connection. On the contrary, only 32% of the online population aren’t consumers of paid TV.
All about how Latcom and Disney designed a successful communication strategy for the new Disney films and empowered the world’s largest entertainment company.
The premieres of Toy Story 4 and The Lion King quickly broke audience records, becoming some of the highest-grossing films so far this year. To position these releases, Disney followed the advice and strategic guidance of Latcom, a company specialized in Out of Home Advertising (OOH). Thus, Latcom and Disney worked together in an effective out-of-home strategy that helped the success of the entertainment company.
To develop an action plan, the company analyzed new challenges in the entertainment world, current market demand and changes in the way movies are consumed. It was also necessary to face the challenges presented by the target audience. On the one hand, Latcom and Disney had to connect emotionally with those that saw the original Lion King; on the other hand, they had to seduce Toy Story fans who considered that the existing trilogy was enough, or that a fourth film brought potential to ruin the story.
The objectives were generating awareness with target audiences: centennials, millennials, families and fans; and positioning the films as “must-see events.” Consequently, Latcom designed a strategy based on the consumer journey, while identifying the key touchpoints for the campaign. In the end, it was structured around four OOH advertising modules and a mobile component that worked as a complement.
“It wasn’t just about buying media, but rather about doing an in-depth analysis of the consumer behavior of the different audiences in Latin America and the different targets that make up that audience,” commented Valentín Bueno, CEO of Latcom. “Each target has a different point of contact with Out of Home media. For example, in the case of children, who are a very difficult target audience to reach, we had to generate special networks close to the areas they frequent.”
The campaigns were executed in Buenos Aires, Gran Buenos Aires, Córdoba, Rosario, Mendoza, San Pablo, Rio de Janeiro, Mexico City, Guadalajara, Monterrey, and Puebla. A mobile component was included at some of the target’s points of interest to reinforce the main communication. Static images and gifs led traffic to the campaign’s website. In addition, geofencing technology covered a radius between 100 and 500 meters, in areas with a good concentration of the desired target audience, such as schools, sports clubs, parks, cinemas, and shopping malls, among others.
“Cities can be transformed into a hub for entertainment distribution and access to all kinds of content worldwide. This system has great potential and I think we can contribute a lot to it. Making this campaign for iconic movies like Toy Story and The Lion King filled us with pride because of the excellent results it had in all markets,” Bueno concluded.
Teads has invited select guests to get a preview of the platform’s product portfolio in 2020. The Teads Vision 2020: Miami Upfront will take place on November 20 at the Silverspot Cinema in Downtown Miami.
Teads is one of those companies that are known because it has both eyes set on the future. For 2020, it plans to continue producing innovating solutions in advertising, and they’re not shy about it! Actually, they’re celebrating big time with an upscale event. At the Teads Vision: 2020 Miami Upfront, the company will showcase its great ideas for the future in the heart of Downtown Miami.
The sharpest minds at Teads will host an afternoon of talks on November 20th at the Silverspot Cinema. Brands will be able to see what Teads has in store, and see which products resonate with their objectives. After an introduction by Latin America SVP Eric Tourtel, Teads’ co-founders Bertrand Quesada and Gilles Moncaubeig, as well as Chief Strategy Officer Todd Tran and Monika Cerqueira, Head of Teads Studio Latin America will share their ideas and plans to deliver an optimal advertising experience in 2020.
Guests will spend an insightful time with the Teads team, building together an innovative plan for 2020 while keeping their brand’s marketing objectives insight. After the talks, Teads will host a happy hour for everyone to network and enjoy.
E-Commerce trends in Mexico and Peru. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop. Check out the previous Latam Consumer Insights Roundup here.
in-Store Media has revealed that Mexicans prefer to buy wine at warehouse stores, according to 37% of survey participants. The most important factor to select the product is the brand, followed by the grape variety and price of the bottle. Over half (55%) of surveyed consumers already know which wine they’re getting before visiting the store. even so, 34% said they have changed their mind about the brand, and 86% said they’re willing to choose a new product if they find appealing information at the store.
Since November 2018, Amazon has launched five Alexa devices in Mexico, among which the Echo Dot is the most popular. Amazon has revealed the list of topics Mexicans ask the most about: animals; movies, TV shows and celebrities; trivia; songs; superheroes; Mexican History; sports; jokes; and alarms. Among the most frequently heard phrases Mexicans tell to their devices are: “Good morning, Alexa”, “Alexa, I love you”, “What’s up, Alexa?”, and “Alexa, I’m home”.
According to Linio, millennials are driving e-commerce more than any other generation in Peru. Peruvian millennials spend four minutes, 27 seconds in average looking for and purchasing products. Most of them research prices on mobile devices and make the transaction on a PC or laptop. Generation Z spends more time researching products, but are not yet spending as much as millennials.
A survey by Tiendeo.mx found that nine out of ten Mexicans said they planned to make purchases during the Buen Fin, on 15-18 November, and spend an average MX $4,518. More than two-thirds of respondents (70%) said they’d make their transactions in physical stores, as opposed to the 30% that claimed they’d use their phone, PC or tablet.
Portada picked Andy Berman’s brain to find out the history, tips, and insights behind Global Mind’s meteoric rise to advertising fame.
From Analog to Digital: A Mindframe for Radical Changes
Andy Berman considers himself lucky to have been born in his time. Like many of us, he got to live through one of the most powerful social phenomena in humanity: the world’s transition from analog to digital. “Technology came early into my life. I experienced the first signs of change when I was a teenager. I remember my parents buying me my first console, the Atari. Then the Commodore 64, the Amiga, the 128, then the PC XT… Thing is, I learned through change.”. With each bold innovation, Berman was learning to adapt, evolve, and understand technology like a true native.
But how did these experiences help him lead his company through great change and disruption? “Along with progress, I saw lots of people and lots of companies crash and burn”, says Berman. “But you learn from everything, and then you put it to use for your benefit.” And so, and old-school computer geek and his hunger for innovation helped create a full-service, cross channel advertising agency for the future.
The Digital Way or the Highway
Berman had a clear vision from the very beginning. Almost twenty years ago, the internet was barely moving from the dial-up modem to broadband connections. Owning a home PC still felt sci-fi. TV was the undisputed king of media. But pushing into the future, Global Mind’s DNA has been digital since Andy Berman conceived it in 2001. “We were doing digital when digital didn’t matter to anyone. For us, it was everything. For the other big agencies, it was nothing but a tiny slice of the advertising cake. So, we became a white-level agency for others for a long time. We gained so much knowledge of the digital world until the same agencies that shunned digital saw the cake was getting bigger”, explains Berman.
We were doing digital when digital didn’t matter to anyone. For us, it was everything.
However, as soon as companies realized the massive hit they were missing, they started putting together their own in-house advertising teams, fast. Former clients were now “making their own cake”, so to speak, and Berman’s business took a hit.
In order to stay relevant, Global Mind faced its first major change of direction. The company took a leap of faith and started looking for direct clients instead of performing from behind the curtain. “For ten years, we always had direct customers, but it was never our main business. However, we had a strong regional footprint and we went for it. Our track record of having been white-level for so many agencies made customers trust our services”, explains Berman.
The brave and timely switch of business models worked, big time. “We expanded from Argentina to Toronto, then to Mexico, Colombia, and the US”, recalls Berman. And the success went on for years, until they became the biggest independent players in Latin America. But then, at the top of their game, came yet another wave of change. Sometimes the only way of growing is becoming a link on a stronger chain.
An Offer You Cannot Refuse
The Dentsu Aegis Network derives around 60% of its revenue from digital activity across 143 markets. The international giant purchased Global Minds in July 2018. Andy Berman didn’t hesitate when offered the opportunity. He knew that great power would also bring great technology. This made the decision a no-brainer. “Dentsu had the technology we didn’t have; whatever we had was sourced by Google. We sold our company knowing we’d be getting all those benefits, and access to all that data.So we brought together the best of two worlds: an agency with know-how that works well and a global giant with all the technology. We used to be the biggest independent agency in our region, except for Brazil. Now, we’re part of the big six”.
We brought together the best of two worlds. […] We used to be the biggest independent agency except for Brazil. Now we’re part of the big six.
And if they’d never been purchased by Dentsu? Would that have made a difference? “We would’ve had to make a tremendous investment to get the same technology now available to us”, replies Berman. “Otherwise, we wouldn’t have been able to offer the high-quality service expected from a global agency”. Simply put, either you keep up or you die. But you always move forward.
Andy Berman’s Five Golden Rules for a Media Agency
According to Andy Berman, these are the tenets of a successful media agency. Missing just one of these would mean putting your agency at a dire risk of obsolescence. Follow purposefully:
Take good care of your staff. Choose them well and listen to their needs. “We still have employees from the first day the company started. Loyalty is the result of taking good care of your employees”, says Berman. So keep them happy and motivated and they’ll be there through thick and thin.
Constantly invest in your business. “Challenges are everywhere. Global Minds was founded twenty years ago, and the digital landscape has now changed entirely. We had to invest, change, do a bunch of things to keep up”. There’s no progress without investment, so be generous with your own company.
Fail fast, mend immediately. “You need to try, experiment and do it faster than anyone else. But when you’ve made a mistake, don’t dwell on it. Pick up and learn as much from it as you can”. Err constantly, but wisely.
Don’t follow trends, set them. “We were one of the first agencies to do regional searches, the first to try to get mobile when everyone else thought we were foolishly wasting money”. Trends might be volatile, but so is the market.
Create specialized divisions. Always assign the right task to the right person. “We were one of the first agencies to have a Mobile Media Director. Over the course of 20 years we’ve had a bunch of directors for different things. When something very disruptive comes along, you have to hire someone who knows who to drive that disruption from within the agency”. Without someone fully developing new technologies, the staff would just be grasping at a straw they don’t fully comprehend.
Mexican holidays are a cultural big deal. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop.
Recent research by Comscore shows Brazilian digital users spend the most time online per month (92 hours per user on average) when compared to the rest of the region. Second is Argentina with 82 hours and third comes Mexico with 65 hours per user. Peru, on the fourth spot with 25 hours per user, boasts the highest percentage of centennial users in the region, as they represent 30% of the online population.
According to a survey by Ofertia,56% of Mexicans celebrate the Day of the Dead. This is Mexico’s favorite fall tradition; in contrast, only 2% celebrate Halloween, 25% celebrate both, and 17% of respondents said they don’t care for either. Last year, Mexican consumers spent $556 MXN in costumes on average.
The new Salesforce study Connected Shoppers has found that 79% of Mexican consumers expect to make a purchase during El Buen Fin, a weekend in November in which most retailers offer discounts and specials. Most consumers will make omnichannel purchases, as they’ve done in the past. As the study shows, 62% of Mexican Buen Fin consumers have purchased a product online and picked it up later at the store.
Deloitte has published the results of a survey that explored consumer behavior around different technologies and mobile services. The firm surveyed 2,000 Argentinianconsumers and found that 50% of respondents buy mobile phones at physical stores, as opposed to last year’s 56%, while 20% make the purchase online.
The out of home company has hired Marco Zúñiga as General Manager of Mexico and Central America to strengthen its presence and development of new accounts and operations in key markets.
Latcom announced that Marco Zúñiga is joining the company at its Mexico office. His main objective is to increase the company’s presence in Mexico and Central America. Marco’s experience includes a position as Director of Operations and Business Development for Rain Advertising, a communication solutions company in Mexico. He also was the founder of Unédito.dos, applying a business model oriented to communication solutions for customers. He was also CEO of Initiative Media in Mexico and Central America, positioning it as the third media agency in a three-year period. Marco is a graduate of Northwest Missouri State University with a Bachelors’s degree in Marketing.
“There were several important reasons that led me to be part of Latcom, however, the main one is the growth challenge that Latcom Mexico and Central America have while expanding its presence at the regional/global level. I am confident that we wil be achieving that goal by capitalizing on our talent, strengths, tools and services to position Latcom as OOH’s global solutions leader,” Zúñiga states.
Mexican millennials prefer Airbnb, did you know? A summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop.
According to a recent study by Americas Market Intelligence (AMI), 56% of Mexican millennials prefer to stay at an Airbnb than at a hotel. Airbnb’s guests are having a slightly better experience, too, as 81% users said they were satisfied as opposed to 74% of hotel guests. According to AMI’s study, 63% of Airbnb users recommend this option while only 47% of hotel visitors are willing to spread the word.
In 2018, Mexicans watched 8% more free broadcast TV than the year before. According to the National Survey on Audiovisual Content Consumption, carried out by the IFT, 72% of Mexicans who own a TV watch free broadcast channels. According to the survey, the most-frequently consumed content types are news, movies, and soap operas.
A survey by Colombia’s Retailers Federation (Fenalco) has concluded that 44% of Colombian credit card holders have had to refrain from making a purchase in the last 12 months because they ran out of credit. In addition, the survey shows 89% of consumers prefer to make purchases at stores that offer their own credit options (not credit cards).
EBANX, a payments fintech company headquartered in Brazil that connects global businesses to Latin American consumers, has raised a significant follow-on investment from FTV Capital, a US-based growth equity investment firm. The investment contributed to making the fintech company the newest unicorn of Latin America.