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Latin consumers find their niche |
| | Consumer Goods and Services | | |
Author: John Price
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The $90 billion net gain by the lowest 90% of the population since 2002 represents the first economic victory for the middle class in Latin America since the 1970s. There are twice as many households today in both Brazil and Mexico earning above $15,000 per year than in China. The democratization of credit in Latin America opens up a mass market for many consumer goods that previously could only be marketed to the affluent. The combination of an expanding viable middle class and a more segmented affluent class has opened the door for more product differentiation, a trend that is likely to deepen in coming years.
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