What Brands Succeed in the Market?

The cheapest, most adaptable and irreplaceable brands are those preferred by consumers in Guatemala's current economic context.

Tuesday, April 23, 2019

4AM Saatchi & Saatchi White Rabbit together with Prensalibre.com carried out a study in the Guatemalan market, with the intention of understanding the reasons for the change in consumer behavior in the last two years, in a context of economic slowdown.

See "Where are the consumers who spend the most?

Juan Bernárdez, researcher at 4AM Saatchi & Saatchi White Rabbit explained to Prensalibre.com that "... This is when brands must generate desires. When the pocket is adjusted, the game becomes interesting, because the consumer has a new logic, and can no longer spend just because they wanted to, is more rational in the purchase and the brand must understand how it acts now."

The article adds that "... there are three possible scenarios for brands: One that become or remain irreplaceable, second that bets on generating a rational and simple value to give more value for the money that the consumer is paying or becomes the cheapest product on the market."

Also see "Changes in Consumer Behavior"

One of the conclusions of the study is that if brands do not generate a product with a different size or presentation, where the consumer perceives it saves money, they will face failure.

More on this topic

Which Brands Don't Succeed in the Female Market?

May 2019

When brands don't know how to approach women, this segment of the population removes products from their value equation because they can't establish a rational, less emotional relationship.

4AM Saatchi & Saatchi White Rabbit together with Prensalibre.com carried out the study "A Guide to Understanding the Consumer", and one of its objectives was to understand how women behave with respect to brands in the Guatemalan market, in a context of economic slowdown.

Shopping Center: Innovating to Compete

April 2019

Traditional shopping centers must be reinvented to remain competitive, as globally consumers tend to spend more on experience than on products.

Although consumers look for experiences in the shopping centers they choose to make their purchases, the development of this concept is beginning in Central American countries.

Changes in Consumer Behavior

March 2019

The slowdown in the region's economies and political uncertainty are changing the way consumers in markets such as Guatemala, Costa Rica and Honduras make purchasing decisions.

The White Rabbit group carried out a study on buyer behavior in Guatemala, Honduras and Costa Rica, called "A New Guide to Understanding the Consumer", which analyses the perceptions prevailing in these markets in the region.

Electronic products: What to expect from the market?

November 2018

The slowdown in domestic consumption in Costa Rica, together with the local currency depreciation, will cause customers to buy fewer high-end technology products.

In the report published by the Central Bank of Costa Rica (BCCR) called the October-2018 Economic Situation Report, it is explained that the slow increase in credit, imports of final consumer goods and tax collection are clear indicators of a slowdown in domestic demand. See full report.

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