Understanding regional trends and successes
Why the local perspective is critical in Latam
Welcome to Brand Footprint 2024. This year we’re delighted to celebrate a bold performance from brands across Latin America.
The good news is that consumers in Latam are not only spending more, but also growing that spend at a faster rate than both the global average and local market inflation. In fact, spend is growing 10 times faster than population growth.
We’ve analysed 53bn brand choices across the region across 2023, analysis that’s been boosted by expanded panels in key markets based on the latest census projections for the region, to decode how consumers are responding to your brand strategies.
The results show not just which brands that are winning, but also stability of the omnichannel retail environment as well as the balance between brands, local and global, and small and large. The picture that emerges helps us identify the right strategies for success and how to win in Latam.
This report not only highlights the region’s biggest brands, as chosen by consumers, it also showcases how Kantar data can help brands grow and operationalise clear proven growth principles to boost their business results.
The path to growth
When a brand stands still, it starts to fall behind. Our role as marketers is to keep our brands on the move; to be constantly looking for new sources of growth and new consumers.
To do this, we need to keep track of changing attitudes and behaviours, and ensure that our brands remain relevant in a world of flux.
This year’s Brand Footprint report for Latin America highlights those brands that have thrived in the face of constant challenges as well as those that have found the right mix of penetration and frequency and recruited more shoppers by being meaningfully different to more people and being more present.
Our Blueprint for Brand Growth is a Thought Leadership model we have launched recently that builds a unified point of view using attitudinal and behavioural data from over 10 years of history in the more than 90 countries where we operate. It determines, through the analysis of 6,5Bn data points, what makes brands that grow more compared to others different, and finds global factors in common for those brands that stand out in each market – and the power of Meaningful Difference is the No. 1 driver for success. Standing out is critical when the average shopper is making an extra purchase decision every day across our region.
If you want to be one of the 90 brands that are part of the average household brand repertoire in Latam, you need to create strong functional and emotive connections – predisposing more people and earning a path to the winner’s circle. It’s about making your brand more present – mentally available and physically unavoidable – as well as integrating seamlessly across all consumer touchpoints.
Locally informed, globally aware
At Worldpanel, we’re fortunate to have both a global and local view. What happens overall, doesn’t always describe the opportunities in every market.
Regions such as Latin America are key growth environments for many brands. This region is dominated by local brands – 60% of purchases are for brands produced in Latam – but market competitiveness increases when global brand owners invest in their brands too.
To provide the granularity you need, we’ve added even more markets to our coverage over the years. To better represent the demographic transition the regions is going through, we’ve also updated our panels based on post-pandemic census data. As an example that means we now cover nearly 1% more population in Mexico.
In this year’s report, we shed light on how and where brands found new space through the lens of 14 markets and a spread of more than 5,800 brands.
We also highlight the brands doubling down on innovation to discover the most incremental spaces – whether through new occasions, targets, or needs. By stretching into uncharted territories, these brands find pathways to new shoppers, and more shoppers. In fact, our data reveals a compelling narrative: brands that expanded their use cases did well. To take one soft drink brand, for example, by targeting 43m moments of consumption – more at lunch and in between meals – it witnessed a striking 12% growth in volume in an already successful category.
All our case studies are practical blueprints for leveraging what our data reveals as the critical growth accelerators: predisposing more people to your brand, being more present, and finding new spaces for engagement.
We believe the insights from Brand Footprint can directly inform brand success because, ultimately, every strategy, campaign, and marketing investment converges at a pivotal moment — the shopper’s final choice. Our rankings capture this moment of truth, confirming the ultimate expression of shopper conversion.
Brand Footprint What is it?
The Brand Footprint report is Kantar´s Worldpanel annual ranking of the most chosen FMCG brands worldwide.
It employs a unique metric known as Consumer Reach Points (CRP) to measure and compare the success of brands across different markets and regions. One CRP represents a single instance of a shopper choosing a brand, integrating data on population, penetration, and frequency to provide a holistic view of brand performance.
