Consumers: Purchasing Decisions and Budgets

Because between 2018 and 2019, the consumer's fixed expense free budget in Costa Rica is estimated to have decreased from 18% to 14% of total revenue, four out of ten buyers made the decision to change brands, and two are considering doing the same.

Friday, September 27, 2019

A study presented by Elfinancierocr.com, explains that women are the most affected by the economic situation of the country, since they said that after subtracting all their fixed costs, they only have 12% of their budget.

In the case of men, the study specifies that this sector of the population has 16% of their income, after deducting their fixed costs.

You may be interested in "Where are the Consumers Who Spend the Most?" and "Where do Consumers Travel?"

Elfinancierocr.com reviews that "... The possibility for consumers to change forces brands to carefully evaluate what their value proposition is and what the brand must do to adapt and not be left out."

In previous studies, the firm in charge of the research has specified that in a market like Guatemala's, the cheapest, most adaptable brands and those that are perceived as irreplaceable are those preferred by consumers in a context of economic slowdown.

If brands fail to generate a product with a different size or presentation, where the consumer perceives that it saves money, they will face failure, is another of the conclusions that the firm has reached after research in the region's markets.

Another important finding of the 2019 Consumer Profile is that in the Costa Rican market consumers "... are more flexible in beliefs such as that women should be mothers, fragile and emotional or that men are the absolute leaders who should not look after their physical appearance. The results of the exercise show that 60% of the advertisements analyzed had female stereotypes, while 26% male stereotypes and 14% mixed stereotypes."

CentralAmericaData has a complete system of qualitative and quantitative information, which allows to identify patterns of behavior and preferences of consumers in any market in Central America. We have detailed information on the number of people who travel through certain areas and their socio-demographic characteristics, such as sex, age, socioeconomic level and other relevant data such as interests and preferences.
The tool provides information on the concentration of the population by age groups, fundamental data for making business decisions such as where to open a new sales point, where to make a promotional activation, among others.



More on this topic

Brands and Increased Life Expectancy

October 2019

The growth in life expectancy generates multiple market opportunities for groups of people over 50, who generally have higher budgets to spend, but are often excluded from brand messages.

According to reports from CentralAmericaData, so far in the 21st century life expectancy at birth has increased in all Central American countries.

Which Brands Don't Succeed in the Female Market?

May 2019

When brands don't know how to approach women, this segment of the population removes products from their value equation because they can't establish a rational, less emotional relationship.

4AM Saatchi & Saatchi White Rabbit together with Prensalibre.com carried out the study "A Guide to Understanding the Consumer", and one of its objectives was to understand how women behave with respect to brands in the Guatemalan market, in a context of economic slowdown.

What Brands Succeed in the Market?

April 2019

The cheapest, most adaptable and irreplaceable brands are those preferred by consumers in Guatemala's current economic context.

4AM Saatchi & Saatchi White Rabbit together with Prensalibre.com carried out a study in the Guatemalan market, with the intention of understanding the reasons for the change in consumer behavior in the last two years, in a context of economic slowdown.

Changes in Consumer Behavior

March 2019

The slowdown in the region's economies and political uncertainty are changing the way consumers in markets such as Guatemala, Costa Rica and Honduras make purchasing decisions.

The White Rabbit group carried out a study on buyer behavior in Guatemala, Honduras and Costa Rica, called "A New Guide to Understanding the Consumer", which analyses the perceptions prevailing in these markets in the region.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Gluten-free food business for sale

Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand.
The OHNE brand has 8 product lines: square bread, sweet...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Sep 23)
Brent Crude Oil
42.000
Coffee "C"
112.3
Gold
1,898
Silver
24.405