Crisis: Changes and Adjustments in Consumption Patterns

A third of the households in Costa Rica have been making severe adjustments in expenditures, primarily those made outside the home.

Monday, March 9, 2009

At the request of El Financiero, the School of Statistics at the University of Costa Rica did a survey "Costa Rican Households on the Face of the Crisis," which revealed the magnitude of changes in consumption caused by the economic crisis.

Self-employed workers have experienced a decrease in income and in 16% of the households someone lost a job. In the case of those who still have a job, they have not received a raise that offsets the rising cost of living. Everything is in lower demand primarily affecting the tourism industry and businesspeople.

Edgar Delgado Montoya closes his article in with the following: "In summary, the survey shows that households have taken the time to review their expenses and have not left any drawer unturned and this has forced companies to be creative to keep this drop in demand from making a bigger dent in their profits."

More on this topic

Time to Put the Credit Cards Away

April 2009

In Costa Rica, a UNIMER (Research International) survey commissioned by El Financiero indicated that even high-income sectors plan to reduce their expenses.

The middle-income sector would be the most inclined to avoid using credit cards in the current economic crisis.

Consumer Trends in Italy

July 2013

The economic crisis facing the country is causing consumers to be more cautious in their purchases, consulting web sites rather than going directly to dealers.

From an article by the Costa Rican Trade Promotion Office (PROCOMER):

The biggest concern of the Italians is their economy, this has resulted in a consumer who is more aware and more cautious in their decisions, spending less and being more selective.

Nicaraguans More Affluent

December 2013

The proportion of the population that claims to have more purchasing power increased by 8% compared to last year.

According to the latest survey conducted by the Nicaraguan Foundation for Economic and Social Development (Funides), 36% of households considered that their purchasing power has improved, while last year only 28% of households saw their capacity to buy had improved.

Young Costa Ricans Do Not Drink Coffee

October 2013

In the new generations the trend is for energy or water soluble drinks which are used as coffee substitutes.

Official data shows that for the 2006-07 crop demand for coffee in the country reached 420,000 bags of 46 kilos, while for the period 2012-13 it has fallen to approximately 404,000 bags.

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