Razorfish Debuts Research on Latin America"s New Digital Middle Class

Sao Paulo, Brazil (PRWEB) October 26, 2010

CMOs with global aspirations must understand a thriving New Digital Middle Class in the increasingly powerful Latin American economic markets, according to a new Razorfish report, The Stampede – Meet The New Digital Middle Class. The study was conducted in partnership with Terra, the largest online media company in Latin America.

The Stampede – Meet The New Digital Middle Class is a first-of-its kind study of so-called “Classe C” consumers, an important but misunderstood economic block fueling the growth of vibrant Latin American economies such as Brazil, a hot market for global expansion among businesses from Caterpillar to Louis Vuitton.

The report shatters many misconceptions about Classe C, which Razorfish has renamed “the New Digital Middle Class.” For instance, contrary to popular belief, digital – not television — is at the core of the New Digital Middle Class lifestyle, and women are the chief economic decision makers of the home.

The publication of The Stampede is especially significant because the business market in Latin America is growing rapidly, even as other areas of the world are still recovering from the economic recession. For instance, Citigroup released credit card data in July 2010 that showed consumers in Latin America increasing their spending 15% during the second quarter of this year, while U.S. consumer spending fell 7%*.

“Many Razorfish clients are exploring the possibility of expanding into Latin America, as it is currently one of the fastest growing markets in the world,” said Joe Crump, senior vp of strategy and planning at Razorfish. “The New Digital Middle Class is a large, untapped consumer group in the region, and understanding this group is crucial for marketers trying to connect with them via the right products, services, messages and experiences.”

With the support of Terra, Razorfish studied the behaviors of the New Digital Middle Class in Argentina, Brazil and Mexico. This group represents the largest and fastest growing segment across these three countries, comprising 53% of the population in Brazil and 62% and 60% in Mexico and Argentina respectively. Such families earn about 3 to 10 times above the national minimum wage, represent billions of dollars in household income, and are the largest economic force in the region.

The study discovered two key insights about the New Digital Middle Class that will help marketers successfully build relationships with this group and deliver products and services that will resonate with them.

Razorfish Debuts Research on Latin America"s New Digital Middle Class