Latin America Consumer Product Research Behaviors 2023

Our regional flash survey explores how consumers in Latin America research products, the formats they prefer most, and the influence of sponsored product ads on their purchase decisions. It also provides marketers with actionable insights into how to best position their brands on the path to purchase.

Topics

Consumer Behavior

Digital Shoppers & Buyers

Latin America

Table of Contents

Executive Summary

Digital buying is still on the rise in Latin America

Traditional search engines are struggling to maintain relevance in product research

Consumers are taking a more nuanced approach to product research

Video content is important, but it’s not consumers’ No. 1 format for product research

Product research is taking less time (thanks, in part, to retail media)

More than half of Latin America’s population ages 14 and older—or 264.8 million people—will make at least one digital purchase this year, per our forecast. Our regional flash survey delves deeper into consumers’ evolving online product research habits and attitudes toward sponsored product ads. The findings can help marketers better reach shoppers as competition for household budgets intensifies.

Key Question: How are consumers’ product research behaviors changing, and how should marketers respond?

Sources Used by Consumers in Latin America to Research a Product They Would Like to Purchase Digitally, Jan 2022 & May 2023 (% of respondents )

Key Stat: When searching for products, consumers in Latin America are increasingly abandoning traditional search engines like Google, Yahoo, and Bing and instead using retailers’ digital properties.

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Executive Summary
Digital buying is still on the rise in Latin America
Traditional search engines are struggling to maintain relevance in product research
Consumers are taking a more nuanced approach to product research

Video content is important, but it’s not consumers’ No. 1 format for product research
Product research is taking less time (thanks, in part, to retail media)
About the Survey
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Charts in This Report

Sources Used by Consumers in Latin America to Research a Product They Would Like to Purchase Digitally, Jan 2022 & May 2023 (% of respondents )Digital Buyers in Latin America, 2019-2027

Top 5 Touchpoints/Channels Marketing and Ecommerce Professionals* in Latin America Will Use to Reach Consumers, June 2023 (% of respondents)Consumers in Latin America Who Use Traditional Search Engines to Research a Product They Would Like to Purchase Digitally, by Country, Jan 2022 & May 2023 (% of respondents)

Consumers in Latin America Who Use Social Media to Research a Product They Would Like to Purchase Digitally, by Age, Jan 2022 & May 2023 (% of respondents in each group)Consumers in Latin America Who Search for a Specific Brand vs. Use Generic Search Terms When Researching a Product on Retailers' Digital Properties*, by Country, May 2023 (% of respondents)

Consumers in Latin America Who Search for a Specific Brand vs. Use Generic Search Terms When Researching a Product on Retailers' Digital Properties*, by Demographic, May 2023 (% of respondents in each group)Ways in Which Consumers in Latin America Prefer to Receive Information About a Product They Would Like to Purchase Digitally, by Country, May 2023 (% of respondents)

Ways in Which Consumers in Latin America Prefer to Receive Information About a Product They Would Like to Purchase Digitally, by Age, May 2023 (% of respondents in each group)Search Results Smartphone Users in Latin America Consider When Researching Retail Products Digitally*, Jan 2022 & May 2023 (% of respondents)

Consumers in Latin America Who Go Up to the Third Page of Search Results When Researching Retail Products Digitally*, by Age, Jan 2022 & May 2023 (% of respondents in each group)Search Results Smartphone Users in Latin America Consider When Researching Retail Products Digitally*, by Age, May 2023 (% of respondents in each group)

Consumers in Latin America Who Find Sponsored Product Ads Helpful* in Influencing Their Decision to Purchase a Product on Retailers' Digital Properties**, by Age, Jan 2022 & May 2023 (% of respondents in each group)Helpfulness of Sponsored Product Ads in Influencing Their Decision to Purchase a Product on Retailers' Digital Properties* According to Consumers in Latin America, by Demographic, May 2023 (% of respondents in each group)

Consumers in Latin America Who Are Likely to Click on a Sponsored Product Ad When Researching a Product on Retailers' Digital Properties*, by Age, Jan 2022 & May 2023 (% of respondents in each group)

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Sources Used by Consumers in Latin America to Research a Product They Would Like to Purchase Digitally, Jan 2022 & May 2023 (% of respondents )

Latin America Consumer Product Research Behaviors 2023

The Buyer Journey Is Fast Evolving, and Marketers Need to Keep Up