In the last few months, the interest in wine in the digital environment has been increasing, a rise that can be explained by the behavior of consumers in all markets of the region.
Through a system that monitors in real time the changes in the interests and preferences of the consumers in the countries of Central America, developed by CentralAmericaData, it is possible to project trends of demand in the short and long term, for the different products, sectors and markets that operate in the region.
In the first half of the year, interest in bicycle accessories reported a clear upturn in the region's markets, with Guatemala, Costa Rica and El Salvador being the countries that recorded the greatest increase in interactions associated with the topic on the Internet.
Through a system monitoring in real time changes in consumer interests and preferences in Central American countries, developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
Once the Central American economies begin to return to normal, as the restriction and quarantine measures that have been taken to prevent the spread of the covid-19 are relaxed, household consumption patterns will have changed significantly.
For example, the demand for meals out of home will decrease by about 7% from the levels reported prior to the crisis.
Fear of the unknown and the belief that a serious problem justifies a dramatic response, pushes consumers to make panicky purchases, driven by anxiety and a willingness to calm their fears.
Following the spread of covid-19 worldwide and its declaration as a pandemic by the World Health Organization (WHO), businesses worldwide have reported a considerable increase in the products they offer, which can be explained by consumer behavior in a context such as the current one.
In Costa Rica, the population with the highest average income shows interest in rabbits, reptiles and horses, and two out of ten consumers show interest in birds as pets.
An analysis of consumer interests and preferences in Costa Rica, compiled by CentralAmericaData's Trade Intelligence Unit, provides interesting results on the characteristics and people who show interest in pets. [GRAFICA caption="Click to interact with graphics]
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.
A rise in interest rates and the depreciation suffered by the Colon against the dollar are the reasons for the slower speed with which private consumption has been growing since mid-2016.
The slower rate at which private consumption has been growing since the first quarter of 2016 is mainly due to an increase in interest rates in colones, which have increased the proportion of income that households have to dedicated to paying off debts.Businesses in the commercial sector believe that this trend towards a slowdown in household consumption could be reversed by the end of the year.
There is a growing trend for pork consumption, encouraged in some countries in the region by ad campaigns created by companies in the sector.
An article on Eleconomista.net reports that "... Central Americans are eating more and more pork. At the head is Costa Rica, with a per capita consumption of 13 kilos in 2014. And while none of them are the same, all markets are demanding more.
One in four Americans use "encapsulated" or individually portioned coffee machines , changing consumer trends related to the drink in the country.
From a statement issued by the Costa Rica Foreign Trade Promotion Office (Costa Rica):
Machines for preparing individual portions of coffee made popular by Keurig Green Mountain Inc. are currently being used by one in four Americans and are changing coffee consumption patterns.
In 2014 average household spending on soft drinks, beers and soft drinks increased by 17%, while that of dairy products grew by 8%.
From a statement issued by the Foreign Trade Promotion Office of Costa Rica:
The purchasing power of the population of Panama has been strengthened in recent years, thanks to the rapid economic growth of this country, which according to World Bank figures, has an annual per capita income of over $10,000.
Eight in ten Peruvians buy own brand label products, with bread, rice and oil having the most presence in supermarkets
From a statement issued by the Costa Rican Foreign Trade Promotion Office:
Peruvians prefer to shop in supermarkets, because of the variety of products on offer , as well as for reasons of safety and comfort. In 2014, supermarket sales showed a growth of 9.5% compared with the previous year, which represents 44% of total retail sales.
Consumers in Japan and China are beginning to replace traditional milk chocolate with dark chocolate, attracted by the health benefits of cocoa polyphenols.
From a statement issued by the Foreign Trade Promotion Office of Costa Rica (PROCOMER):
In the Asia Choco Cocoa Congress, held from 21 to 23 April in Singapore, experts discussed a change that is occurring in the Japanese consumers, who are turning away from the popular milk chocolate in favor of dark chocolate, due to the growing interest that has arisen in cocoa polyphenols and their effect on health.
Individual packages and innovation in packaging are part of the strategies used by the food industry in Latin America to improve the positioning of healthy packaged products.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
The Latin American region has shown a preference for choosing healthier options of packaged foods.
In 2014 the volume of household consumption increased by 16% in Nicaragua, 7% in El Salvador, 5% in Panama and 6% in Guatemala, while in Costa Rica and Honduras it fell by 1% and 5%, respectively.
Panama stands out because of the rapid growth of its economy in recent years, which is currently visible in the consumption of its inhabitants, which in 2014 grew by 5% in turnover.