Small local grocers are losing ground to supermarkets and discounters that offer more affordable prices and therefore appeal to increasingly price-sensitive consumers in a time of high inflation and reduced consumption. This is expected to lead to constant value decline in the category over the forecast period.
After the pandemic, both consumers and companies are more aware of the need to support local production in and conscious consumerism. This trend, coupled with the support of government entities promoting local markets such as the Mi Nariño Farmer's Market, provides an opportunity for growth for traditional grocery retailers.
The majority of small local grocers and foods/drink specialists in Colombia do not currently sell their products online, therefore e-commerce is an area that they are likely to develop over the next few years. Small grocery retailers could partner with online supermarkets, or take advantage of government support and increase their participation in fairs and online events such as those of the District Secretariat of Economic Development in Bogota.
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Understand the latest market trends and future growth opportunities for the Small Local Grocers 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 Small Local Grocers 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.
Small local grocers are mostly independent retail outlets (with a selling space of under 400 square metres), kiosks, market stalls or street vendors, owned by families and/or run on an individual basis, and with a primary focus on selling food/beverages/tobacco and other groceries. Small local grocers also includes ethnic grocery stores that specialize in foreign brands and food types, health food stores, confectioners/newsagents/tobacconists (CTNs), food & drink souvenir stores, legally registered mobile shops that are run out of a truck, and regional specialty stores. Retail sales from farmers markets, farms, vineyards, or similar producers are also included in small local grocers. Outlets located within wet markets in Southeast Asia (often located in government-owned multi-story buildings) should be counted as separate outlets.
See All of Our DefinitionsThis report originates from Passport, our Small Local Grocers research and analysis database.
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