LATAM’s $265B Surge, The 29% Savings Squeeze, and Boats Group’s Big Bet

Good morning, ! This week we’re diving into the sources of concern for US consumers, reduced monthly income that goes into savings, LATAM E-commerce dominated by Argentina, Brazil and Mexico, and Boat Group attracting a new investment round from General Atlantic.  

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TREND OF THE WEEK

The Quiet Erosion of Savings 

Consumers may say their savings are “holding steady,” but the behaviors underneath tell a different story. A rising share is dipping into savings (26–29%) and reducing income directed to savings (26–29%), essentially keeping balances flat through financial gymnastics rather than financial progress. Add more credit-card usage (26–28%) and increased expense tracking (28–29%), and the picture becomes clear: stability is being manufactured, not earned. Even essential categories aren’t safe—food spending cuts rise to 26%, signaling deeper strain. Slight bumps in BNPL adoption (15–16%) and more consumers working extra hours (11–13%) reinforce the pressure. Consumers are staying afloat, but only by leaning harder on short-term fixes. (More)

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ECOMMERCE

LATAM Checkout: Mobile-First, Social-Driven, and Still Scaling

Latin America’s e-commerce momentum isn’t slowing—gross merchandise value (GMV) is projected to more than double from $125B in 2023 to $265B by 2028, according to Statista. What’s driving this surge? A perfect mix of digital adoption and market opportunity.

Mobile is the battleground, with smartphones expected to account for 55% of e-commerce spend by 2028. This is a sharp shift from desktop-centric behavior just a few years ago. Meanwhile, social commerce is heating up, projected to hit $38B by 2028, driven by WhatsApp and Instagram integrations unique to LATAM’s digital culture.

Brazil remains the regional heavyweight (nearly $85B in GMV by 2028), but Mexico and Argentina are growing fast. Cross-border commerce is also on the rise, signaling a more globally connected LATAM shopper.

Why it matters: For brands and investors, LATAM e-commerce is no longer a fringe bet. It’s becoming a scalable, mobile-first growth story with real infrastructure. Logistics, last-mile solutions, and embedded fintech will be key to unlocking the next wave. (More)

DEAL OF THE WEEK

Smooth Sailing: Boats Group Attracts New Capital from General Atlantic & CPP

Boats Group, operator of leading marine marketplaces including Boat Trader, YachtWorld, and boats.com, has secured a strategic investment from General Atlantic and CPP Investments, with Permira retaining a significant minority stake. While financial terms were not disclosed, the message is clear: investors are doubling down on the digitization of niche, high-value verticals.

Under CEO Patrick Kolek, Boats Group has transitioned into a data- and AI-driven marketplace connecting buyers and sellers across the global boating ecosystem. The investment aligns with broader tailwinds, including the shift from offline to online in complex asset categories and growing demand for more transparent, efficient transactions.

This is more than a liquidity event. CPP’s participation signals long-term conviction, General Atlantic brings a growth and global scaling lens, and Permira’s continued involvement reflects confidence in the platform’s trajectory. Together, the capital stack points to further technology investment and category leadership. (More)

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BROUGHT TO YOU BY THE GIFT CARD CAFE

Why Gift Cards Win in a Budget-Conscious Holiday

In a season shaped by inflation and tariffs, gift cards are the safe bet. As Axios noted, nearly 60% of holiday shoppers bought one by September—more than any other category. A $50 card still costs $50, even if it buys less, making it a practical, inflation-proof gift.

But this isn’t just thrift. Cards to favorite restaurants or stores still feel personal, especially for younger shoppers navigating tighter budgets. Gen Z is pairing cards with handmade gifts—from bath bombs to pottery—blending thoughtfulness with affordability.

Bottom line: Gift cards are now where sentiment meets strategy. They're cheap to offer, high-margin, and emotionally relevant. Expect the trend to stick. (More)

CONSUMER BEHAVIOR

The Inflation Reality Check

U.S. consumers are still fixated on one thing: inflation. A full 43% rank rising prices as their top concern, a level of obsession usually reserved for celebrity breakups or iPhone launches. Layer in tariff policies at 29%, and you get a consumption environment where shoppers are connecting global trade headlines directly to their weekly grocery bill. Add pressure points like making ends meet (22%) and healthcare costs (16%), and it’s clear that value-seeking behavior is no longer a trend—it’s the default. Long-term issues like climate change, inequality, and AI barely break 10%, signaling that consumers are prioritizing what hits the wallet now over what hits society later. For brands, the ask is simple: show value, show stability, and don’t complicate the message. (More)

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