Buying in small sizes has significantly increased in Panama and in the region of Central America, according to consumer insights report, updated at the end of 2022.
This study highlights that it will be the small-scale acquisition that will accelerate the frequency with which it is purchased.
“As I buy smaller packages, I buy more often. Today, esmall size strategy it seems necessary because it’s a way to maintain the amount of product in homes,” he said Vivian Gálvez, General Manager for Kantar, Worldpanel CariCAM division.
In Panama, this frequency increased by 30%, while in Guatemala was 3% and Costa Rica 2%. Buying in bulk is also relevant in Panama, with 33%.
Gálvez emphasizes that the large procurement of food is not increasing, but decreasing. The consumer carries smaller purchases, within which the filling or proximity increases, which in turn have from four to nine categories.
Before, in pandemic period, stock up is a purchase that has grown, with more than 10 categories.
Now 8 out of 10 categories are affected by the price increase, which reflects the high level customer sensitivity in order to reduce their consumption.
“We are more reasonable with what we spend, we prioritize categories and reduce volume that we carry from the categories we buy,” Gálvez added.
In Panama, the inflationary context threatens to decrease in the consumption of categories, it no longer means abandoning them.
Households are trying to be able to produce more affordable, looking for the most suitable price point, trying cheaper brands, visiting new retailers or sacrificing their spending.
55% of Central Americans they say they visit several outlets to look for promotions, 49% to compare prices between outlets and 24% because not all outlets they shop at have the same range.
Except, the food category benefited in times of crisis and there are no signs of losing priority. Personal care, on the other hand, has a short-term recovery, after the impact of the pandemic.
according to inflationis increasing, households reducing the volume of purchases of consumer goods, nevertheless, the consumption habits of Central America are higher than in the period before the pandemic, taking 15% more from articles compared to 2019.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
