After the spike in demand seen in Latin America in 2020 due to the pandemic, with more time spent at home and heightened cleaning regimes, much weaker demand was seen in the next two years. However, home care enjoyed a stronger performance in 2023, in spite of the high inflation impacting the region. Positive growth is expected over the forecast period, when increasing usage of social media for marketing and communication purposes is expected to continue being seen.
This report comes in PPT.
Players across home care have been increasingly investing in social media communication in Brazil. In a highly competitive framework, this communication through social media profiles is seen as strengthening brand awareness as well as informing consumers of new launches and promotions, with players also often leveraging partnerships with influencers.
All brand owners in home care continue to be challenged by the high penetration of private label in Colombian households. Private label growth has been driven not just by discounters, but also by retailers seeking to compete against hard discounters. Aggressive private label pricing strategies have been used by supermarkets and hypermarkets as they look to compete with discounters.
In Argentina, the combination of consumers spending money rather than keeping hold of their rapidly depreciating pesos and the limitations on price increases under the Precios Justos (Fair Prices) programme helped prevent a major migration from tier one brands to lower-priced brands or private label. Precios Justos is an agreement between industry players and the government under which the brands commit to keeping price rises of specific products/SKUs to well below inflation.
Direct-to-consumer brands such as EcoCarga and FreeMet have continued to gain ground by selling unpackaged home care products in Chile. Refillable packaging is not only considered a sustainable choice by local consumers, but also a more affordable option that allows them to save money, which was especially attractive given the prevailing economic situation. Both brands have been expanding their reach in recent years, even including EcoCarga vending machines at Santiago metro stations.
This is the aggregation of laundry care, dishwashing products, surface care, chlorine bleach, toilet care, polishes, air fresheners and insecticides.
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