It is a known fact that consumers shop differently, both online and in-person, throughout the world. This is especially true for Brazil consumer trends!
In Brazil, we have been able to see huge growth in technology use over the past years. This, along with their culture, makes them very unlike their Latin American neighbors.
What is it that makes them so different? That’s what we’re here to tell you!
Before we dive into the differences, please be sure to check out our latest market resources, the Business in Brazil report!
Why is the Brazilian Market Different?
The key things that consumers value will change from country to country, but there are some specific details that will make people value different things in Brazil compared to other countries.
Reviews Are Crucial
As shown in the research conducted by Think With Google, Brazilian consumers care twice as much about product reviews as Americans or Brits.
What this means is that businesses try to enhance their products so that they have more positive reviews, as well as putting this section of their website in a place that is easy to find by visitors.
Credit Cards Are Less Common
About 45% of the Brazilian population does not have a bank account, meaning that online credit card payments are out of the picture.
Consequently, it has been found that cash transactions are the most common way of purchasing for 70% of Brazilians.
According to the IMF, Brazil has the pound-for-pound highest GDP throughout all of Latin America.
This indicates that a lot of domestic consumers have higher spending power, a lot of which is spent online. Specifically, 150 million Brazilians now have access to the internet!
What Do Brazilians Value Most?
Brazil consumer trends and values vary slightly depending on the type of goods we are looking at. Let’s quickly go over the difference between these before diving into the most valued factors.
Hard goods are less personal items:
Soft goods are those usually found around the home:
Essentials are goods that are necessary and used every day:
- Health products
Now let’s talk about what Brazilians care most about.
Delivery is the most influential factor for Brazilians when shopping online for soft goods and everyday essentials. The exception for this is hard goods, were not paying for delivery ranks second.
This is especially important considering the fact that a lot of consumers shop online for imported goods. If they do not receive free shipping for these, it could end up coming to a hefty price tag that they will not want to pay.
Businesses selling into Brazil should consider this in their plan, as offering free shipping would be a big plus and definitely earn you a lot of sales.
Low Product Price
Sounds self-explanatory, right?
For hard goods, consumers are most concerned about being able to find a product the least expensive of its kind, while this is the second most important value for soft goods and essentials.
It makes perfect sense: Brazilians want a good deal on what they’re consuming. Why spend an unnecessary amount of money on something when there is a cheaper alternative?
Sales on Goods
This goes hand in hand with Low Product Pricing.
Consumers in Brazil are looking for the best deals that they can get, and finding sales is a quick and easy way to achieve this!
Businesses should make sure to have sales often and make them known to their customers, as this is a pretty straightforward way for them to increase sales and make consumers happy.
Earlier, we talked about how a lot of Brazilians don’t have credit cards. Because of this, a lot of them look towards websites that offer alternative methods of payment when it comes to online shopping.
Systems like Boleto Bancario offer people the opportunity of paying with a bank slip online and then being able to pay in person at the actual bank establishment in cash.
Companies rapidly adapted this program, with it now being used in more than 20% of eCommerce transactions in Brazil!
This is the fifth most valued Brazilian consumer trend for soft goods and essentials. We previously said that a lot of the goods used in households in Brazil come from other countries, mostly China and the United States.
Because their goods come from abroad, customers really appreciate when they receive their shipments quickly, along with the free delivery that we mentioned before.
Rise in eCommerce
Currently, about ⅓ of the online shopping transactions in Latin America takes place within Brazil.
This extreme technological growth that we’ve been seeing in recent years and we touched upon in the beginning of the article has played a big role in this.
The rise of popularity of the Internet and mobile phone usage has opened people’s eyes to the world of eCommerce, and now it’s something that everyone is taking part in.
Brazil Keeps Growing!
There are steps that you can take in order to penetrate this incredibly vast market, and Colibri can make this process easier for you! Be sure to contact us for more assistance and consultation!
If you want to find out more about where Brazil’s business might be headed, be sure to check out our latest Colibri report!