We continue our series on six megatrends for consumers in Latin America by Sabre. Let’s check out the first one which is on seeking status.
While houses and cars still count for status symbols, there is also a shift towards intangible sources. With more consumer power stories and experiences become the real status stories to tell. Booking.com surveyed people in Latin American and reported that 71% of Brazilians found people who traveled more interesting. The sharing economy lends itself to these travelers to broadcast their status stories related to travel.
South America has developed tremendously in the last ten years. People’s education and expectations have risen exponentially as well as technology all over the world. Latin Americans want to let the world know about their self-actualization.
Another reason for the infectious travel bug in South Americans is that flying has become affordable with the arrival of low-cost airlines. What used to be a luxury is now almost affordable to anyone.
In addition, wellbeing has also become a form of wealth. The status seekers are especially looking for experiences that combine a rich experience with a chance to pamper themselves and improve or maintain their attractiveness.
To read more about all trends, read here.