L A T A M E D I T I O N

GLOBAL
CONSUMER
TRENDS REPORT
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GCT 2023 LATAM EDITION

Contents

Shopping Media and Entertainment

05 At a Glance: Consumer Trends in 8 At a Glance: Consumer Trends in

Media and Entertainment
Shopping

06 Voice of the Consumer 9 Voice of the Consumer

BFSI Travel and Hospitality

11 At a Glance: Consumer Trends in 14 At a Glance: Consumer Trends in
BFSI Travel and Hospitality

12 Voice of the Consumer 15 Voice of the Consumer

17 Insights to Drive Sustainable Growth

21 Conclusion
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GCT 2023 LATAM EDITION

Introduction

With over 500 million internet users, Latin America is the fourth largest regional
online market in terms of users worldwide. The internet penetration has skyrocketed
in the last few years and currently stands at 75.6%.

This has significantly impacted how

consumers work, shop, dine, communicate,
play, and their consumption patterns across
categories, be it groceries, consumer
goods, or healthcare. With the fast pace of
behavioral changes, it is imperative for
brands to re-align their customer
engagement strategies accordingly.

Daily Average Screen Time for Latin Americans (Excluding Work)

20.6% 7%
Less than
More Than
2 hours daily
6 hours daily

Key Takeaway:
2 out of 5 Latin Americans
prefer to spend 2-4 hours
daily on their screen apart
from work. 40.6%
2-4 hours daily

31.8%
5-6 hours daily
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GCT 2023 LATAM EDITION

Where was Latin America Consumer Spending the Maximum Towards?

1.6% 4.6%
Travel (Ride Hailing/ Fitness/Nutrition/
Domestic/International) Healthcare

Key Takeaway:
61.4% of consumer 7.4%
spending in Latin Credit cards, utility
America has been bills, or loan payments
towards Media and
Entertainment
platforms. 61.4% 25%
Entertainment
(Streaming Services, Shopping (including
Gaming, Dating, Lifestyle) Food & Grocery delivery)

For example, brands should know which device customers prefer to use the most. How
frequently do customers use their platform? How has the customer growth been in their
industry, and how do they stack up? How often should they engage with customers?

In the 2023 edition of the Global Consumer Trends Report,

we answer all these questions and more!

About This Report

1.3B+
Consumers
Analyzed

4
Primary Verticals

3200+
Consumers
Surveyed
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Shopping
GCT 2023 LATAM EDITION

Retail, E-commerce,
Groceries, and D2C

Shopping

At a glance

44.8%
25% of Latin
American consumer
spending has been
of Latin American shoppers
towards shopping. visit an app or website more
than five times before
purchasing.

1/2
Latin Americans prefers
68%
of Latin Americans prefer
buying groceries online using their smartphones to
once a week. shop online.
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Shopping
GCT 2023 LATAM EDITION

Where Do Latin Americans Prefer Buying New Products Online/Offline?

16.2%
Mobile
Website 19.0%
Desktop
Key Takeaway: Website
Latin Americans love
using mobile apps to
shop online. Almost
51.8% use it over 51.8% 11.4%
websites. Physical Stores/
Mobile App
outlets

1.6%
Social Media

How Many Times Do Latin Americans Visit a Shopping App/Website Before

Making a Purchase Online/Offline?

4.0%
1.0% 1 Time
I prefer buying
Key Takeaway: products offline
44.8% of Latin
American shoppers visit 26.4%
an app or website more 2-3 Times
than five times before
purchasing.

44.8% 23.8%
More Than 5
Times 4-5 Times
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Shopping
GCT 2023 LATAM EDITION

How Often Do Latin Americans Buy Groceries Online/Offline?

15.4% 10.8%
Daily Online
Prefer Buying
Offline
Key Takeaway:
44.8% of Latin
Americans prefer 34.0%
buying groceries online 25.0% Once a Week
at least once a week. Once in 15 Days Online
Online

14.8%
Twice a
Week Online
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8
Media and Entertainment
GCT 2023 LATAM EDITION

OTT, Audio and Video Streaming, Gaming,

Sports, and Digital Publications

Media and
Entertainment

At a glance

61.4% of Latin American

consumer spending has
54.2%
of Latin Americans prefer to
been towards Entertainment stream music, videos, TV
platforms. shows, and movies daily.

44%
of Latin Americans prefer
1/2
Latin American millennials
streaming music, videos, prefers streaming video online
and movies on their on their smartphones.
televisions.
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Media and Entertainment
GCT 2023 LATAM EDITION

Where Do Latin Americans Prefer Streaming Music, Watching

Videos, TV Shows, and Movies?

2.2%
Tablet
11.2%
Desktop
Website
Key Takeaway -
1 in 2 Latin Americans
prefer streaming videos
and movies on their TV. 44.2%
TV

42.4%
Smartphones
(mobile)

Where Do Latin American Millennials Prefer Streaming Music,

Watching Videos, TV Shows, and Movies?

3.9%
Tablet
15.7%
Desktop
Key Takeaway - Website
Unlike other age
groups, Latin American
Millennials prefer
smartphones over 49.0%
Smartphones
television for streaming
(mobile)
music and videos.
31.4%
TV
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Media and Entertainment
GCT 2023 LATAM EDITION

How Often Do Latin Americans Stream Music, Videos,

TV Shows, or Movies?

4% 8.2%
Once a week Only on weekends/
2 times
Key Takeaway:
1 out of 2 Latin
Americans prefer to
stream music, videos, 33.6%
3-4 times a
and movies daily. week
54.2%
Daily
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Banking and Finance
GCT 2023 LATAM EDITION

Online and Traditional Banks,

Fintech, Insurance, and Peer-to-Peer

Banking and
Finance

At a glance

74%
of Latin American consumers prefer visiting
1/3
Latin American consumers use
banking and fintech platforms at least 2-3 banking and fintech platforms
times weekly. to view balances and review
account activity.

16%
of Latin Americans use
32.4%
of Latin American millennials
banking and fintech use banking and fintech
platforms to set up savings platforms for money transfers
goals. and BNPL payments.
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Banking and Finance
GCT 2023 LATAM EDITION

How Often Do Latin Americans Visit Banking and Fintech Platforms

(Excluding Payment Platforms)

4.4%
Every 15 days (fortnight)
6.0%
Once a month
Key Takeaway:
73.8% of Latin
Americans prefer to
visit Banking and
Fintech platforms at
15.8%
least 2-3 times a week.
41.2% Once a week
2-3 times
a week
32.6%
Daily

What Do Latin Americans Use Online Banking Platforms For?

8.8%
Managing 9.2%
mortgage, loan, Signing up or
or bill payments managing
Credit/Debit cards
Key Takeaway:
33% of Latin Americans
use Banking and
Fintech platforms to 33.0%
View balances,
view balances and review account 16.6%
review account activity. activity, and Spending and
deposit checks setting up
saving goals

32.4%
Domestic/International Money Transfer
or Buy Now Pay Later (BNPL) payments
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Banking and Finance
GCT 2023 LATAM EDITION

What Do Latin American Millennials Use Online Banking Platforms For?

5.9%
Managing 13.7%
mortgage, loan, Signing up or
or bill payments managing
Key Takeaway: Credit/Debit cards
32.4% of Latin American
millennials use Banking and
Fintech platforms for
Domestic/International
Money Transfers and Buy 23.5%
Now Pay Later (BNPL) Spending and
setting up
payments. saving goals

32.4%
Domestic/International
Money Transfer or Buy
Now Pay Later (BNPL) 24.5%
payments View balances, review account
activity, and deposit checks
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Travel and Hospitality
GCT 2023 LATAM EDITION

Hotels and Homestays, Online Travel,

Room Rentals, and Ride-hailing

Travel and
Hospitality

At a glance

16.4%
63.4% of Latin Americans
prefer to get information
for travel plans and of Latin Americans prefer to
reservations from mobile get information for travel plans
and reservations from social
websites and apps. media

42.2%
of Latin Americans prefer
62.7%
of Latin Americans prefer
using Ride-Hailing apps at using ride-hailing apps at
least 3-4 times a week. least once a week.
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Travel and Hospitality
GCT 2023 LATAM EDITION

How Do Latin Americans Get Information for Business or Personal

Travel Plans, Activities, or Reservations?

16.4%
34.2% Social Media
(Reddit/Instagram/
From a travle app
Key Takeaway: Facebook/Twitter)
on mobile
63.4% of Latin
Americans prefer to get
information for travel
plans and reservations
from mobile websites 20.2%
and apps. From a travel
29.2% website on
desktop
From a travel
website on mobile

How Often Do Latin Americans Use Ride-Hailing or Cab Services?

12.2%
Daily

Key Takeaway: 14.6%

42.2% of Latin Every 15 days
Americans prefer to (fortnightly)
use Ride-Hailing 30.0%
3-4 times
platforms at least 3-4 a week
times a week.

18.2%
Less than once
25.0% a month
Once a week
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Travel and Hospitality
GCT 2023 LATAM EDITION

How Often Do Latin American Millennials Use Ride-Hailing or Cab Services?

7.8%
Daily 16.7%
Less than once
a month

Key Takeaway:
3 out of 5 Latin American
Millennials prefer to use
Ride-Hailing platforms at
least once a week.
31.4% 20.6%
Every 15 days
3-4 times a week
(fortnightly)

23.5%
Once a week
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GCT 2023 LATAM EDITION

Insights to Drive
Sustainable Growth
Loyal customers drive revenue growth and attract new customers
through brand advocacy. And there are multiple ways how brands
can build loyalty. For example, brands can identify loyal customers
through RFM segmentation. Another way to build loyalty is through
referral campaigns.

1 2 3 4 5 6 7

Holder Name
 18

1. Improve Customer Retention By Focusing on

GCT 2023 LATAM EDITION

Your Loyal Customers

Loyal customers drive revenue growth and attract new customers through
brand advocacy. And there are multiple ways how brands can build loyalty.
For example, brands can identify loyal customers through RFM segmentation.
Another way to build loyalty is through referral campaigns.

Network 5G

3:42
Tuesday, August 23

Earn up to $25 for referring

friends to Venmo

Invite friends

We hope you enjoyed your recent stay at the Thompson Hotel. Please let us know how we can improve
to make your future visits more enjoyable.

$
 19

2. Make Customer Data Your

GCT 2023 LATAM EDITION

Single Source of Truth

Impressions Clicks Conversion

Customers are purchasing less, receding 438.36K 5.20K 1.66K

budgets, and becoming risk-averse. This
situation has made the entire ecosystem 8.53% 19.9% 3.1%

even more competitive as brands fight for

smaller pieces of the pie. So, bend backward
to keep your existing consumers happy and
reward their loyalty.

To serve loyal consumers well, identify how

they function, what influences or triggers
their decisions, and how has their buying
behavior changed. And the best part is that
you can get these insights in just a few clicks
by using any Advanced Analytics tools.
Using it, you’ll be able to learn more about
customer behavior, retention, and reve-
nue-driving channels.

A) Leveraging customer
data to reimagine
shopping experience Sent 250,467

To understand customers’ shopping

Revenue $6.4M

experiences and pulse, brands can Conversion Rate 32%

analyze customer insights and run Revenue Lift 54% Conversion rate (%)

surveys. They can use these Conversion Lift 26%

learnings to tailor their customer Experience 1 Experience 2

engagement strategy and thus

increase engagement and sales.

Read how Zalondo reimagined the

shopping experience here.
 20

B) Increase Premium Trial Conversion

GCT 2023 LATAM EDITION

Using AI-Driven Insights

By leveraging customer insights, Media and Entertainment platforms can create impactful
campaigns and content tailored to each unique user based on factors like the customer’s
optimal channel, time, and past and predicted future actions.

Read how Audiomack achieves an 18% increase in premium trial conversion rates here.

API Performance

Request received Request processed successfully

All channels delivered At least one channe

C) Boost Conversions
using Analytics
Travel platforms can analyze user
behavior at different stages to
understand drop-offs and create user
journeys. In addition, they can offer
personalized messaging based on
user behavior for better engagement.

Read how Mamikos Boosts Room

Rental Bookings by 20% Using
MoEngage Analytics here.
 21

Conclusion
GCT 2023 LATAM EDITION

As we enter 2023, brands cannot afford generic communication that doesn’t resonate
with customers. Brands must leverage insights and analytics to understand the pulse of the
customers and cater to their needs and wants. By understanding platform usage, brands
can identify when to trigger notifications, the channels to prefer, and the frequency of the
notifications for a satisfying customer experience.

Understanding what customers want is critical for brands to create a robust customer
engagement strategy and grow sustainably.

About MoEngage
MoEngage is an insights-led customer engagement platform trusted by more than
1,200 global consumer brands such as Ally Financial, McAfee, Flipkart, Domino’s,
Nestle, Deutsche Telekom, OYO, and more. MoEngage empowers marketers and
product owners with insights into customer behavior and the ability to act on those
insights to engage customers across the web, mobile, email, social, and messaging
channels. Consumer brands across 35 countries use MoEngage to power digital
experiences for over 1 billion customers every month. With offices in 13 countries,
MoEngage is backed by Goldman Sachs Asset Management, B Capital, Steadview
Capital, Multiples Private Equity, Eight Roads, F-Prime Capital, Matrix Partners,
Ventureast, and Helion Ventures.

MoEngage was named in the 2022 Gartner® Magic Quadrant™

for Multichannel Marketing Hubs and a Strong Performer in
The Forrester Wave™ 2023 reports.

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