Despite low economic growth in 2014, Brazil still presents a big opportunity in technology and digital media. Data compiled by Latam Connection presents a complete picture of the market for companies looking for doing business in Brazil. See presentation below and get in touch with us for more information.
Consumer adoption of smartphones, mobile broadband and ecommerce is growing fast despite a 0.2 GDP increase to US$ 3 trillion in 2014.
The latest decade brought huge transformations to Brazil. The lower income D/E class shrink from 96 to 49 million people and the middle class C almost doubled from 66 to 118 million people. The higher class A/B grew from 13 to 29 million people.
One of the major consequences of that is that the consumer market exploded and many people are having access for the first time to airline travel, their own car, higher education, learning a second language and private health care among other products and services.
The share of people between 25-34 years old with at least an undergraduate degree grew from just 8.1% in 2004 to more than 15% in 2013. New cars sales more than doubled in a decade. Domestic airline travel carried 3 million people in November 2005 and reached almost 8 million in November 2014.
Apetite for technology products and services exploded likewise. 95 million people over 12 years old use the internet in Brazil. 73% of them are under 35. More than 62 million people access the web on a tablet or mobile phone.
There is room for growth in mobile commerce once only 10% of transactions are made on mobile devices compared to 27% in US. Between July and September 2014 more than 15 million smartphones were sold. 4G subscriptions were 4.2 million in October 2014.
Digital ad spend in Brazil is expected to reach US$ 2.88 in 2014, more than half the US$ 5.19 million figure for Latam. In the first half of 2014 ecommerce grew 11% to US$ 6.15 billion.
This study will be constantly updated and expanded. Please check it out in the link above and send us your inquires. We will be happy to help you understand the opportunities for your company in Brazil.