A new President for Peru was elected in July 2016 and it seemed that everything might (finally) be possible! In September 61% of the population thought that things in the country were heading in the right direction; three months later, this score fell to 50%. But it’s not so bad! The world average indicates that 63% of respondents believe their country is on the wrong track.
2. Peru is trying to review the informal areas of its economy
Almost 70% of the working population form part of this “informal economy”. In the short term there are some issues that could be addressed through incentives to form registered legal businesses that could create more jobs for low-skilled workers with a low impact on the public budget.
3. Peru is a pyramid but Lima is a rhombus
The traditional middle classes (SEL AB) make up 14% and the emerging middle class (SEL C) 25%, while the “general” public (SEL DE) make up 61%. It is only among the ABC levels that formal employment predominates and employment rights are respected. But things are changing, as can be observed in Lima.
4. Peru wants to be happy
70% of Peruvians claimed that they felt happy most of the time, amongst which the people of Lima and from the Eastern regions of the country stood out. We Peruvians are happy if we are in good health, if things are going well at work, in love and friendship, if the family is doing well and there is peace, emotional stability and if we are satisfied with our income.
5. Peru is one of the most attractive destinations for LATAM
The results of a survey carried out by Ipsos Peru among Latin American opinion leaders placed Peru in first place for gastronomy at 69% and in second place for historical attractions at 72%. However, we are not so well known for our cultural activity, music and natural attractions.
6. Peru is young
The “millennials” generation (20-35 years old) make up 25% of the population: this is a generation that is favoured by brands for being economically active. As consumers, they follow the modern trends and therefore need to be surprised by innovations but they also wish to have emotional connections through positive and comforting experiences in their lives.
7. Peru likes it simple
Simplicity is one of the principal global tendencies in modern marketing. 69% of consumers are more willing to recommend a brand that offers simpler experiences and communications; 63% of consumers are more willing to pay more for simpler experiences.
8. Peru is changing its attitude to women
Women belong to the new emerging middle class, young mothers see themselves as and project themselves to be entrepreneurs, capable of providing a stable future for their families, especially their children. They are more and more interested in maintaining the space in their lives to enjoy time with their partners and other women to be able to relax, have fun and let off steam.
9. Peru is following the ‘greener food’ trend
First place is taken by aspects related to nature and being natural; second place, the limited amount or absence of sugar in products; third place, products that have limited or no artificial ingredients. Although these trends are still relatively new in Peru, there are segments of the population that go beyond only the higher social economic levels, where more concern for and interest in these matters can be observed.
10. Peru is an acronym for the strategy of a successful brand
P is for product: apt for the Peruvian palate.
E is for empathy: a brand that connects to my interests and values.
R is for relevance: the need to make the true needs of Peruvians heard.
U is for Uniqueness: it is critical to be able to stand out in the moment of truth.