Colombia

In the early months of 2023, a challenging macroeconomic climate, coupled with low consumer confidence, high interest rates to curb demand and soaring inflation, as well as political uncertainty, resulted in a marked deceleration in the issuance of…

It is expected to be a muted picture for consumer electronics in Colombia in 2024, with overall volume sales expected to fall. For some consumer electronics, this is due to obsolescence, such as with in-car entertainment, portable players, home audio…

A virtual restaurant in an emerging concept. Also known as a ghost kitchen, cloud kitchen or dark kitchen, it is a foodservice business that serves customers exclusively by delivery or pick-up, with technology driving a lot of the operations. Some of…

In spite of continuing rising prices in 2023, consumer foodservice registered an increase in constant value sales and there was also further opening of new outlets. However, profit margins were under strain, as costs also continued to rise and…

In 2023, Colombians returned to their familiar routines, with increasing social activity and hectic lifestyles leading to an increase in cases of cold and benefiting most OTC categories. However, the opposite trend is being observed in vitamins and…

The Colombian economy felt the effects of a slowdown in the first semester of 2023 due to a restrictive monetary policy, compounded by a significant increase in interest rates at the end of 2022. This caused credit card interest rates to rise above…

In 2023, value growth of convenience retailers in Colombia was supported by increasingly busy lifestyles, forcing consumers to shop little and often and increasingly buy breakfast and lunch to-go. Convenience retailers have shown agility and…

The Colombian economy began to recover in the second half of 2021, with growth reaching + 7.5% by the end of the year 2022. This was fuelled by fiscal stimuli registered in 2021, increased oil prices and a boost in food and beverages exports which…

In 2022, demand for cold, cough and allergy (have fever) remedies soared, as a result of the atypical increase in flu cases, as social distancing, handwashing protocols, and the use of face masks were totally lifted in 2022, facilitating the spread…

In 2023, the issuance of credit cards is expected to remain almost flat, with no significant increase. Growth rates for the number and value of transactions are also expected to decelerate compared to the previous year. The value of transactions,…

Flexible plastic is the most widely used packaging choice for dairy products in Colombia in unit volume terms due to its cost-effectiveness, lightweight nature, convenient features, branding potential, protective barrier properties and innovative…

Dairy products and alternatives is recording another year of sluggish retail volume growth in 2023, in response to low production and supply chain issues. High transport costs, the increase in the price of raw materials and worker shortages have…

The use of debit cards continues to grow and they remain the most important payment method behind cash. Further robust growth is expected in 2023 both in the number of cards in circulation and value of transactions. The performance of debit cards has…

Value sales of deodorants showed single-digit growth in current value terms in Colombia in 2023 driven by the high temperatures recorded in the country and unit price increases, which were mainly the result of the growth in retail prices linked to…

Depilatories saw modest current value growth in Colombia in 2023. Economic pressures compelled some consumers to cut back on non-essential spending during the year, including visits to beauty salons for hair removal services, such as waxing and laser…

Dermatologicals is expected to see higher value growth in 2023 than in the previous year. Value growth is partly being driven by escalating prices and partly by people returning to in-person medical consultations, which lead to more recommendations…

The dietary supplements category is expected to experience positive growth rates in 2023, largely driven by prices, although the growth is expected to be slower than that seen previously in the review period. Despite the increasing concern amongst…

Digestive remedies has been amongst the most dynamic categories within OTC. With people back to their normal routines, which include an increase in the frequency of eating out of the home, they have been more prone to suffer from bloating, reflux, or…

In 2023, direct selling in Colombia has benefited from its ease and speed of purchase, product variety and payment options. Growth is also attributable to expansion into more remote areas of the country. In the wake of the COVID-19 pandemic, direct…

Double-digit growth was seen in discounters in Colombia in 2023, reflecting a change in the consumption habits of local consumers who are looking for more affordable options in a time of economic uncertainty and budget constraints. Discounters have…