Using advanced technology applied to the extraction and processing of large volumes of data, it is possible to obtain the necessary information to evaluate whether a new product, service or brand will be accepted when it begins to compete in a specific market.
Companies that intend to compete in a new market always ask themselves the following question: How much acceptance will our new product, service or brand have?
Brands offering a deeper and more emotional added value, delivering to their customers with immediacy and executing business strategies from a more local perspective are the most likely to succeed in this new commercial reality.
The outbreak of covid-19 and the mobility restrictions imposed by this pandemic significantly changed consumer behavior and perceptions of brands.
In Central America, it is estimated that more than 800,000 people are interested in sports shoes and clothing in the digital environment. Reebok, Under Armour and New Balance are some of the brands that have best positioned themselves in the minds of consumers with high purchasing power.
An analysis of the interests and preferences of consumers in Central America, prepared by the Trade Intelligence Unit of CentralAmericaData, shows interesting results on the preferences and tastes of people in various products, services, store chains, brands and activities.
In the region, it is estimated that more than 4 million people show interest in the digital environment for supermarkets, being Walmart, Pricesmart, Paiz, La Torre, La Colonia and Super Selectos, some of the chains that have better positioned in the minds of consumers.
An analysis of the interests and preferences of consumers in Central America, prepared by the Trade Intelligence Unit of CentralAmericaData, gives interesting results on the preferences and tastes of people in various products, services, store chains, brands and activities.
With the reduction of advertising budgets, companies must invest in advertising on social networks, which must be complemented by organic traffic derived from content created on digital platforms.
The outbreak of covid-19 transformed the ways in which Central American consumers behave, as quarantines and measures of restriction and social isolation decreed by governments, generated abrupt changes in purchasing habits and product search.
Assessing the company's value proposition and conveying it properly, as well as adapting quickly to the current business environment to create bonds of trust with customers, are part of the challenges that brands must face to survive.
According to experts on issues related to marketing and branding, the severe home quarantines decreed by the Central American governments due to the outbreak of covid-19, has imposed new habits to consumers.
According to the digital behavior of consumers, it is estimated that in the countries of the region more than 8 million people show interest in beer, and most of them are between 19 and 35 years old.
A study of the interests and preferences of consumers in Central America, prepared by the Trade Intelligence Unit of CentralAmericaData, gives interesting results on the preferences and tastes of people in various products, services and activities.
In Central America, imported diapers of the Huggies, Pampers, Pom Pom and Jueguitos brands account for approximately 65% of the total number of units consumed.
From the study "Diapers in Central America", prepared by the Trade Intelligence Unit of CentralAmericaData:
Reviewing the figures of the Costa Rican market, the interactive study states that Huggies, Pampers and Jueguitos are the brands that share more than 80% of the total local market. In the case of Panama, about 65% of sales are monopolized by the brands Pampers, Absormex and Huggies.
It is estimated that at the end of 2019, 23% of the motorcycles circulating nationally were of the brands Honda, Yamaha, Suzuki, Vento and Bajaj.
The report 'Vehicle fleet in Mexico 2019', from the Trade Intelligence Unit of CentralAmericaData, provides details on the characteristics of different vehicles that travel through the streets of the Mexican states.
With regard to the discussion of an initiative which aims to modify the Trademark Law in Nicaragua, the business sector believes that relevant changes are being considered in the area of legal security, as far as the protection of trade names is concerned.
Regarding the subject, the National Assembly reported that on February 27, "... the consultation process for the initiatives to reform the Trademark Law and the Patent Law was successfully concluded, with the participation of economic and academic agents directly linked to the subject, who provided important contributions."
At the end of 2019, 32% of the vehicles circulating on the streets of Central America were of the brands Toyota, Nissan and Hyundai, while Honda, Suzuki, Kia, Isuzu, Mazda and Ford shared 25% of the total.
The report "Vehicles in Central America", from the Trade Intelligence Unit of CentralAmericaData collects the most updated information on the automotive market in Central American countries.
At the end of 2019, Central American consumers reduced their spending on mass consumption products, and at the same time they started to opt for low-price brands, which are generally typical of the retail sector chains.
It is estimated that during the fourth quarter of last year consumers in the region spent 3% less on mass consumer products. Despite this decline, the frequency of purchases remained largely unchanged.
For a trademark not to disappear, it is essential that it exports its goods and services, otherwise the probability of its survival after 12 years of being founded is 50% or less.
In Costa Rica, a business has a 63% probability of reaching five years of operation, in contrast to 86% for a foreign one, and the gap between both increases in time, says the report "State of the Nation in Sustainable Human Development 2019."
During 2018, sales of packaged foods in the United Kingdom exceeded $84 billion, and 36% corresponded to private label products, which have quickly entered this market.
The study "Trends and requirements of private label buyers in the food sector in the United Kingdom", prepared by Procomer Costa Rica, indicates that the United Kingdom stands out as the second country in Europe with greater penetration of private label.
To have clear the purpose of the organization and to improve the "human" experience of the relationship client - brand, are the two trends that the experts visualize in the strategies of the companies in the next years.
According to the "2020 Global Marketing Trends Report", prepared by Deloitte, there are five other trends that derive from human purpose and experience: fusion, trust, participation, talent and agility.
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