Colombian consumers are expected to limit their purchases over the forecast period, especially in 2024. High inflation, and rising prices and utility costs will cut into disposable incomes and impact consumer spending on items perceived to be non-essential.
The success of Mabe's Prime Blend Store experience centre in Bogotá highlights the increasing importance of the customer experience over the course of the forecast period. Combining the online environment with traditional bricks-and-mortar stores offers an important differentiating factor for consumers in terms of their purchasing decisions, and allows retailers to increase the radius of their reach, without necessarily opening new physical stores.
Energy bills increased substantially in 2023 and are expected to rise further in 2024 due to the arrival of the El Niño phenomenon. The Association of Power Generation Companies (ACOLGEN) promotes the efficient use of electric energy and water in Colombia through the campaign “Let your focus be saving”, which is expected to encourage local consumers to search for more energy-efficient electronics and appliances.
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Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Appliances and Electronics Specialists industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.
See All of Our DefinitionsThis report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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