Imagine a growing market, full of young customers, more affordable talent, cheaper marketing fees, and only two languages to cover. Sounds like a dream, right? Well, that’s Latin America, one of the fastest-growing markets in the world, with a young population that is looking for your product.
For a long time, LATAM has been labeled as a volatile market but with the advancement of technology, the establishment of industries, and the rising educational level of the population, all of that is changing for the better.
LATAM is a great market for companies to expand their business, build new connections and create more possibilities.
Just in e-commerce alone the LATAM market is expected to reach a value of $168 billion this year. The region is becoming increasingly digital and open to technology.
Most markets are growing and there’s a real possibility that your industry is also expanding.
The future is also bright for funding, the year 2021 was a record-breaking year in venture funding for LATAM startups. Investors left an impressive $19.5 billion for startups in the region.
So, whether you are looking to expand, get funding, or else, LATAM has a billion possibilities for you.
Fewer language barriers
One of the greatest advantages of LATAM markets is that there are fewer language barriers between countries. Since there are only two major languages in LATAM Spanish and Portuguese.
This makes investing in communication, marketing, and resources more economical than in other regions like Europe or Asia.
One of the more attractive aspects of the LATAM markets is that its population is made up mostly of young and productive age people. In comparison to other regions like Europe.
This means that there are long-term customers waiting to be discovered. A great opportunity for startups to break into the market and create a loyal base.
Need more signs of a market worth exploring, how about growth. We already told you e-commerce is expected to soar, the region is also set to become a hub for tech and startup developments.
Developing industries, infrastructure plus a young and able workforce means that tech needs will be on the rise. Any business owner’s dream is to have a demand filled market to explore.
Needs for better solutions
As digitalization reaches more parts of the continent there is a growing demand for solutions and companies to supply them. Not only technical responses but also fun and innovative answers to the problems faced by people there.
There is an opportunity in Latin America not only to expand your own startup or brand but to invest in local creators that can be the next unicorn idea from the region.
Do more with less
This might be the best advantage in terms of bottom-line investments. Your advertising and talent budget will get more in LATAM than it will almost anywhere else.
Because of the strength of foreign currency vs local ones, you can buy more ad time, get talented people working for you and produce for less. Keep in mind some cases may vary but it’s true for most industries.
For startups, this means that with the right partner to guide you into the market you can position yourself within LATAM without breaking the bank.
Where can you find a partner to guide you into the LATAM market?
Inlay specializes in helping startups and other businesses scale up and break into the LATAM market. We have years of experience, connections, and the know-how to establish your name in this new market.
Offering full-rounded services and dedicating time to walking you through the whole process. We truly believe in preparing culturally, networking, and setting up your market entry for success.
Here is what Inlat can do for your business in LATAM?
- 1. Growth Marketing
- 2. Scaling Up
- 3. Market entry research and qualification
- 4. Connect you to the right allies, suppliers, and distributors
- 5. Provide support and cultural guidance