CHALLENGE
Compile a trends report for convenience stores tailored to the Latin American market, leveraging insights from the NACS event in the US, while ensuring relevance and applicability to LATAM context.
Compile a trends report for convenience stores tailored to the Latin American market, leveraging insights from the NACS event in the US, while ensuring relevance and applicability to LATAM context.
EXPERTISE PROVIDED
Trend Analysis, Market Research, Consumer Behavior Analysis, Latin American Market Adaptation
Trend Analysis, Market Research, Consumer Behavior Analysis, Latin American Market Adaptation
OUTCOME
Our team conducted an analysis to gather insights and transform US trends into actionable strategies for Latin America. Leveraging tools like Rewind.AI and Perplexity AI, we captured and researched for data efficiently, which helped build a more efficient analysis, providing valuable insights into consumer behavior and market dynamics. By utilizing business cases from NACS and global sources, we illustrated the practical application of trends, highlighting their interconnectedness and adaptability across industries.
Our team conducted an analysis to gather insights and transform US trends into actionable strategies for Latin America. Leveraging tools like Rewind.AI and Perplexity AI, we captured and researched for data efficiently, which helped build a more efficient analysis, providing valuable insights into consumer behavior and market dynamics. By utilizing business cases from NACS and global sources, we illustrated the practical application of trends, highlighting their interconnectedness and adaptability across industries.
I was also responsible for the VIS on this project, where we used an eye to represent the observed trend and then we decomposed the form to show how a trend has isolated components
This is our project timeline
In our project, the team divided our efforts into three main phases: pre-work, event participation, and analysis. During the pre-work phase, we collaborated with the client to gather a brief and identified crucial sessions for attendance at the event. This allowed us to create an agenda to ensure we captured all necessary insights. We also conducted interviews with key accounts to understand their main business challenges, guiding our focus during the event. Following this, we conducted trend desk research for the sector and business, emphasizing its significance.
At the event, we gathered insights, focusing on the identified areas of interest. At the time, I received a newsletter from Rundown, talking about a tool that was pretty handy, which was Rewind.AI. It helped us to record the audio from sessions and transcribe it, so people on the backoffice of the project, based in Brazil, could have access to the transcriptions. In summary, who was present at the event would send us the audios & the transcriptions to start analyzing the sessions.
During the analysis phase, we clustered the gathered trends and analyzed consumer behavior trends in Latin America, which informed our transformation of U.S. trends to fit the Latin American context. Finally, we compiled the report, defining trends using the 5W2H framework.
The decomposining eye, during the analysis
In our analysis process, we utilized desk research, specifically leveraging Perplexity AI, to understand trends. Notably, Perplexity AI played a pivotal role in our research efforts and deserves special mention. We crafted succinct names for each trend to facilitate easy reference. When exploring the 'why' behind each trend, we examined various factors including consumer behavior, socioeconomic influences, technological advancements, global events, and evolving business models.
For the 'how' aspect, focusing on the application of trends in the Latin American context, we considered factors such as government regulations, market dynamics, cultural nuances, technological innovation, and localized consumer behaviors. To illustrate the potential implementation of these trends, we drew insights from relevant business cases sourced from NACS and global instances found online.
An interesting observation during our analysis was the recurrence of certain trends across multiple businesses. This enabled us to utilize aspects of a single business case to illustrate more than one trend, highlighting the interconnectedness of trends within the industry. This flexibility in utilizing business cases underscores the adaptability and relevance of our findings to diverse contexts.
Final Report overview
