During 2020 it is estimated that advertising investment amounted to $345 million, an amount that is 6% lower than reported in 2019, a drop that is explained by the fall in spending in all formats.
According to data collected by Kantar Iboper Media, between 2019 and 2020 in the Costa Rican market, advertising investment decreased by $22 million, going from $367 million to $345 million.
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.
More hours of television content, greater use of social networks and increased impact of "influencers" on people's decisions are some of the trends that have gained ground in the context of the health crisis and are expected to be reaffirmed in 2021.
Household quarantines imposed by governments to try to contain the spread of covid-19, forced people to stay in their homes longer, a phenomenon that changed the relationship of consumers with the media.
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.
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.
Although public places have been closed for most of the year, in Central America for the quarantine period the demand for soft drinks, beer and snacks did not contract, as families increased consumption from their homes.
Soda, beer and snacks were no longer consumed in restaurants, movie theaters, stadiums and other similar spaces, but, due to the confinement measures decreed because of the covid-19 outbreak, demand shifted from public places to homes.
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.
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.
At the end of 2019, Central American consumers reduced their spending on mass consumption products, and at the same time they started to opt for low-price brands, which are generally typical of the retail sector chains.
It is estimated that during the fourth quarter of last year consumers in the region spent 3% less on mass consumer products. Despite this decline, the frequency of purchases remained largely unchanged.
The emergence of new brands of handcrafted beer, coupled with a greater supply of imported beverages, has generated important changes in the beer market in El Salvador in recent years.
The handcrafted beer brands that have emerged in the last five years at the local level are Cadejo, Santo Coraje and Premio. In addition, some companies in the sector have added a variety of imported beverage brands to their product portfolio.
Supermarkets are one of the outlets where the most own brand labels can be found, and these products are gaining ground as consumers perception over their quality improve.
Currently in Panama 2% of supermarket sales correspond to own or private brand labels and 64% to cheaper brands, according to studies cited by Martesfinanciero.com.
In 2014 the consumption of fresh produce went down, the frequency of trips to the shops changed and the preference for large supermarkets has returned.
From a statement issued by the Costa Rica Foreign Trade Promotion Office (Procomer):
Real Estate Development & Adventure Park Jacó, Costa Rica. Multiple Investment Opportunities Available. The Ocean Ranch eco-residential development is located...
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