Editor’s note: While EchoMR is hosting this expert channel and generously sharing their strategic plan with us, we welcome related content from other companies and will publish those under the LATAM topic page. Thank you for helping us meet the needs of the insights professionals growing their businesses in (or into) that region of our great world!
As we move forward with our exciting GreenBook LATAM expert channel, we want to outline our analytical approach to the region and give you a sneak peek into future content. Our publications will follow five major themes: media and entertainment trends, diversity and inclusion, consumer trends, business and financial trends, and technology trends. Below, you will find an introduction to each of these categories!
Media and Entertainment Trends
While entertainment preferences are influenced by local culture and vary from one country to another, the convergence of factors such as widespread access to high-speed internet, the proliferation of smart devices, and the influence of social media have allowed for content from diverse regions to thrive in LATAM. These cultural imports from countries across the globe have been steadily taking over a substantial portion of the local media market, exerting a profound influence on the culture, habits, and purchasing choices of Generation Z and beyond within LATAM, effectively molding the perspectives and preferences of new generations.
The media is a pillar of modern society, and it translates communities’ needs and wants, simultaneously dictating and being dictated by the people who consume it. Exploring media and entertainment trends in LATAM offers insight into what cultural and societal values come in and out of relevance and how they shape human behavior. Understanding these trends from a regional perspective allows for the market research community to better grasp the narratives that resonate within Latin American countries and the cultural and societal impacts they have.
In this column, we will examine media and entertainment trends in LATAM and how they influence consumer insight and the market at large.
Diversity and Inclusion
Diversity and inclusion in Latin America is a multifaceted and evolving topic that encompasses various dimensions of society, including ethnicity, race, gender, sexual orientation, socio-economic status, disability, and more. The nature of the challenges in each dimension of diversity and inclusion can vary significantly from one country to another within Latin America.
When thinking about diversity, we tend to establish a ‘zero point’ from which to measure these diversifications of experiences – often, that zero point lies at the center of the Western perspective. However, that approach falls short of understanding what is truly relevant to cultures in LATAM. Diving into diversity and inclusion through a local lens reveals the unique necessities and challenges of each country, giving foreigners a stronger notion of what progress looks like for Latin America, and how it should be approached. By understanding ideas of inclusion that are unique to the region, we highlight identities and stories that matter to the people, creating a more comprehensive approach to equity and representation, especially in market research.
Consumer trends in Latin America, as with any other region, are affected by a confluence of global events, local policies, technological advancements, economic shifts, and the influence of media and the internet. As an example, the surge in e-commerce and the adoption of digital platforms throughout Latin America are quickly reshaping how consumers behave and what they expect from a retail experience.
Moreover, like most of the world, inflation has significantly impacted consumer behavior in LATAM in recent years. This phenomenon looks different across regions and countries, and this column will seek to provide a location-specific analysis of its effects, allowing brands and insights professionals to make more informed, tailored choices within the region. You can also expect to read about topics including niche market trends, the adoption of new technologies, the influence of international trends in local markets, and overall expenditures and saving approaches.
Business and Financial Trends
Business and financial landscapes in Latin America have undergone significant changes over the years, reflecting both unique challenges and promising opportunities. This column will explore the multifaceted aspects of Latin America’s economic journey and the forces driving change. We will analyze the various factors that shape the business environment, including government policies, trade agreements at regional and country-specific levels, political shifts, technological advancements, business and financial changes following the pandemic, cryptocurrency, among many others, gaining insight into the many facets of business and finance in this diverse and dynamic region.
When it comes to the technology sector, Latin America is making its mark on the international stage through groundbreaking innovations, becoming a highly competitive technology powerhouse. We plan to explore the digital transformation sweeping across Latin America and dive into the key factors propelling the growth of technology.
Exploring the dynamic between Latin American governments, businesses, and a lively community of tech enthusiasts, we’ll look into how they work together to nurture a thriving tech ecosystem. Moreover, we’ll uncover how Latin America harnesses emerging technologies like artificial intelligence, blockchain, fintech, ag-tech, biotech, EVs, and others to address regional challenges and drive economic growth.
And here we’ve barely scratched the surface. Get ready to embark on an exciting journey as the Focus on LATAM channel continues to evolve and innovate. There’s a world of possibilities waiting to unfold before us, and we can’t wait to explore them together. Stay tuned for what’s to come!