Mass Consumption and Buyer Behavior

Greater preference for private brands, less use of cash and fewer purchases but in higher volumes, are some of the characteristics of current consumer behavior when it comes to demanding mass consumption products.

Tuesday, November 10, 2020

In this new business scenario, market research companies continue to focus on understanding the new consumption habits of people in all countries in the region.

The covid-19 outbreak changed consumer behavior. According to several studies, some of these new habits will not be temporary, and could be perpetuated over the next few years.

You may be interested in "How do Purchasing Intentions Evolve?"

In the current context, two out of three Central American consumers have chosen to make fewer purchases of mass consumption products, but by doing so less frequently they demand higher volumes, according to recent research by Kantar.

The economic crisis and the rise in unemployment levels have caused people to opt for cheaper products. This change in preferences favors private or own brands, which have gained market share in this new commercial reality.

Learn more about CentralAmericaData's consumer studies.

Carrying out promotions has become more complicated in the last few months. In this sense, the "... logistic difficulty at the beginning of the pandemic, when people made strong purchases in suppliers, generating out of stock of some categories, and later to control the flow in physical stores," has made it difficult to launch promotions, explained to Martesfinanciero.com Vivian Galvez, manager of Kantar's Worldpanel division.
 
The article adds that "... the low cash flow that households handle in these times has motivated the use of cards, where in the third quarter of 2019 only 14% of Central Americans used this method of payment. Today, for the same period in 2020, it reaches 23% penetration."

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More on this topic

Consumption: What is Expected at the End of 2020?

November 2020

Food, beverages, liquor, household and personal care items are the categories that are expected to drive the rise in consumption levels in Central America during the last month of the year.

Despite the fact that 2020 has been a complex year for all business sectors, due to the covid-19 outbreak that generated a serious economic crisis in all Central American countries, sales are expected to increase considerably in December.

Consumer Trends in the New Reality

September 2020

Although in Central America the period of mandatory confinement has been exceeded, it is still a priority for consumers in the region to spend their free time in their homes and to devote themselves to household cleaning and home cooking.

It has been six months since the first cases of covid-19 were detected in the region.

Retail: Challenges of the On-Site Experience

July 2020

Given the gradual return to physical stores, customers will appreciate it if businesses disinfect stores several times a day, if other visitors are required to clean their hands before entering, and if employees use protective equipment at all times.

Although in this context of the spread of covid-19, digital channels have gained ground in Central American markets and this trend is expected to continue in the coming months and years, there are commercial establishments that will have to adjust their face-to-face sales strategy to the demands of the new normality, since there will always be customers who prefer to continue shopping in person.

Quarantine: What Are the Most Demanded Products?

April 2020

Butter, baby diapers, surface cleaners, and wheat and corn flour are some of the products most demanded by Guatemalan households in this context of quarantine and social isolation.

Yogurt, tuna, processed beans, cookies, rice and toilet paper are the other items that complete the list of ten more products bought by families in Guatemala in this new commercial reality, resulting from the health emergency caused by the outbreak of covid-19.

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