For professionals in advertising, marketing and media, economic growth areas may help us decide who to target for new business. With that in mind, we took a look at some of sectors in Brazil that have been surging not only in 2014 but over a longer amount of time, since this data suggests that they will be worth watching as 2015 starts to unfold.
Take a Look at Eyewear
Over the past 5 years, the eyewear market in Brazil has grown by 89%. Sunglasses are one of the main growth drivers, with 15 million units sold. According to Bento Alcoforado, president of the Associação Brasileira da Indústria Óptica, in 2015 the Brazilian optical market will grow by 10% and then by 20% in 2016.
According to Projeto Organics Brasil, the organic foods market in Brazil is set to go up by 35% in 2014, with overall sales of R$2 billion.
After growing by 14% in 2013, the Brazilian toy market is set to grow by 11% in 2014, with R$ 9.5 billion in sales. The reason 2015 looks good for toys is the strong growth that’s happened for years. For example, in 2010 toy sales in Brazil grew by 8.5%, then by 9% in 2011 and then by 15.6% in 2012.
Beyond toys, video game console sales in Brazil went up by 33% between January-July 2014 and the same period in 2013, according to GfK, with an increase of 11.5% in video game sales.
Advertising Also Up
Besides certain products doing well, we’re seeing the promotion of those products also doing well. Research from Carat projects a 9.4% increase in ad spend in Brazil in 2014 due to the World Cup and recent elections. Overall, Latin America should see ad spend increase by nearly 12% in 2014, way ahead of North America (5%), Western Europe (2.7%) and Asia (5.5).
According to the Associação Brasileira de Distribuição de Logística de Produtos Farmacêuticos, sales of pharmaceuticals in Brazil totaled R$ 3.23 billion in Q3 2014—nearly 19% higher than in the same period in 2013 and 8% higher than in Q2 2014.
Reading Ramps Up
While we don’t have all numbers in for 2014, we know that book sales in Brazil went up by more than 10% in 2013. In 2012, sales of books in Brazil grew by more than a billion reais, suggesting a growth trend is taking place in this area.
More Pet Shops Popping Up
Since 1995 there has been annual average growth of 19% in pet shops in Brazil. Overall, the pets market is set to grow by 7% and overall, Brazilians will spend R$ 14 billion on their dogs and cats.
Tablets Take Over
IDC indicates that Brazilians bought 6.4 million tablets between January and September 2014—20% more than in the same period in 2013. In contrast, Brazilians bought 3 million desktop computers and 4.6 million notebooks. Basically, tablets have taken over the computer market in Brazil, with 47% market share, significantly higher than the share of notebooks (33%) and desktops (19%).
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