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2024/03/19

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What are the characteristics of Latin American customers? To develop the Latin American market, you

Latin America refers to the American region south of the United States, including Central America, the West Indies and South America, with a total of 33 countries and a total population of more than 650 million. The population structure of Latin America is relatively young and the population growth rate is still rapid, so its market prospects are very promising.

With the frequent exchanges of cooperation between my country and Latin America, the trade volume between my country and Latin America is also rising rapidly, and Latin America has become one of the markets that foreign traders can choose. So what are the characteristics of Latin American customers, and what should foreign traders pay attention to when developing the Latin American market?

Use local language

The main languages used in Latin America are Spanish and Portuguese, with Spanish being the more widely used. It should be noted that the penetration rate of English in Latin America is not high, so if you want to successfully develop the Spanish market, it is best to learn the local language. You need to know at least basic daily expressions and business terms.

Character traits

Latin Americans have a relatively unrestrained personality, which makes them often show a high degree of enthusiasm and friendliness during negotiations. Of course, this does not mean that the other party does not pay attention to etiquette at all. On the contrary, most Latin Americans attach great importance to etiquette. When attending formal business occasions, they often wear formal attire. Obviously, in this case, foreign trade people It is also necessary to attend in formal attire.

Tips for finding traces: Latin Americans are relatively average in terms of punctuality, so foreign traders also need to be more patient.

Price sensitive

Although Latin America is currently in a period of rapid development, it is limited by the level of economic development, so local consumers are still relatively price-sensitive, which leads to local buyers also paying more attention to price. Offering a more competitive price will make your negotiations smoother.

Of course, this does not mean that Latin American customers do not pay attention to quality and service, but relatively speaking, they will pay more attention to price and are willing to make some appropriate concessions for price.

Credit status

The credit status of Latin American customers is generally good, especially in Chile and Argentina. There is basically no need to worry about payment issues, but the payment cycle will be relatively slow. However, it should be noted that the situation in Latin America has changed significantly, which will lead to an increase in force majeure factors.

Therefore, when foreign traders are looking for Latin American customers, they should try to find companies that are larger and have been established for a longer time within the scope of their ability. This will be more reliable. You can directly search the customer name through Ueedata.com, and you can see the customer's transaction status, official website and other information.

For example, if we search for this Brazilian buyer named "JCB DO BRASIL LTDA", we will find that its number of transactions and quantity are very large, and its procurement cycle is also relatively stable. This can actually represent to a certain extent. It seems that the other party's operating conditions are relatively good.

Then we check the other party's official website and find that it was established in 1945. In fact, the other party is very trustworthy. In this case, foreign traders can further develop or cooperate with them.

The above are some characteristics of Latin American customers. If you want to know more, you can send us a private message~

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