As a result of the pandemic, the consumer habits of Costa Ricans changed, a phenomenon that was evidenced in the forms of consumption of ice cream, which is now more frequently consumed in homes.
In the new commercial reality, the consumption of individual ice creams was considerably reduced and in the case of multipacks, sales increased. This change is due to the fact that nowadays people spend more time in their homes and prefer to consume this type of products at home.
In the last year in El Salvador, sales of hardware stores have remained dynamic, a situation that is explained by changes in living habits resulting from the pandemic, as in recent months’ consumers have decided to invest in remodeling their homes.
The increase in family remittances is another factor that has influenced the increase in hardware store sales. According to official figures, during 2020 the country received $5,919 million in family remittances, an amount that exceeded by 5% what was reported in 2019.
Understanding consumers' lifestyles, hobbies, ages and the places they go to, in order to attract a very specific sector of the population, is fundamental to reduce the risk in the investments made for the opening of new specialty stores.
For some years now, the retail sector has been undergoing a transformation, which has been driven by changes in consumer habits and the rise of e-commerce.
Reducing delivery times of products sold through digital channels and maintaining different supply and distribution options to face scenarios of trade restrictions are some of the challenges that companies face in this new business reality.
In Central America during 2020, companies had to adjust quickly to the demands arising from the health crisis caused by the covid-19 outbreak, as restrictions on consumer mobility and face-to-face sales were continuous.
In recent months, it is estimated that the cost of raw materials for bread production in the Nicaraguan market has increased by about 25% and consumption has decreased by 40%, a phenomenon that is reported in the context of the economic crisis generated by the outbreak of covid-19.
Raw materials such as oils, shortening, margarine and sugar have increased their prices in this context of sanitary emergency, a situation that has put pressure on the production costs of bread producers.
In this context of changing behaviors and new commercial realities, consumers are expected to increase their preference for open spaces, green areas, contactless payment systems, and stores where there are no queues.
The covid-19 outbreak caused far-reaching changes in the way people behave. These changes brought about a new business normal, a reality to which companies have had to adapt rapidly.
Although the restrictions imposed by the pandemic have been relaxed, consumers continue to show signs of mistrust in the current situation, behavior that could put pressure downward on spending on products and services considered to be discretionary.
In 2020, when the effects of the pandemic that caused the spread of covid-19 began to become evident, it was anticipated that consumer habits would change, since in a complicated economic scenario full of uncertainty, people would be more careful when spending.
In Panama during May 2020 the demand for electricity from the commercial sector bottomed out, as consumption fell to 195 million kwh due to the pandemic, but in the following months the figures improved and in November the turnover rose to 297 million kwh.
Although the cumulative figures from January to November 2020 show that consumption in commercial establishments fell by 26% compared to the same period last year, a significant recovery was reported in the last months of last year.
In the new business reality, most Central American consumers have borrowed more than usual, spent less on snacks and personal care items, and migrated to cheaper brands than they used to before the pandemic.
Central America faced a severe economic crisis during 2020, which stemmed from the global covid-19 outbreak.
Changes in the points of consumption, increased sales through electronic channels, and more direct relationships between producers and roasters are some of the transformations reported in the coffee market at the regional and global level.
Changes in consumer habits, which were caused by the outbreak of covid-19 and the imposition of severe quarantines, ended up transforming several markets, including the coffee market.
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.
Lincoln Plaza began operating a virtual platform in which customers can purchase products that are sold in the physical stores that already operate in the property.
EPK, Uno Sports, Claire's, Totto, Xiami, Miniso, TOYS, Liberia Internacional, Opticas Munkel, Aldo Nero, Ibiza and GNC, are some of the stores that will offer their products through the new digital platform.
Due to restrictions on mobility, the increase in online shopping and changes in consumer habits, the volume of international and local package movements in Costa Rica is showing an upward trend.
Due to the spread of covid-19, Costa Rican authorities decided to restrict people's mobility and impose social distancing measures. These factors were determining factors for consumers to begin changing their purchasing habits.
Reduced consumption of diapers and the drop in demand for toilet paper and paper towels used in restaurants, offices and hotels are some of the transformations faced by companies in the sector in this new commercial reality.
Because of the covid-19 outbreak, Central American families have been staying home longer than usual.
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.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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...
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