GLOBAL 2016: Global brands must become more local to remain relevant
Outside of the US, we’re seeing the emergence of strong local competitors who are not affected by foreign exchange rates and have the ability to quickly innovate, up-size, use local ingredients and reflect local personal care behavior. For example, we’ve seen in Latin America a growing concern with purpose that is crossing generations. Even moms, 35-plus, are demonstrating greater involvement with brands that goes beyond transactional. Given the rising influence of local factors on consumption, the challenge for some of the multinationals is that their marketing too often remains a centrally created bundle that is sent around the world.