Six Major Shopper Behavior Trends Driving Growth In Latin America's Retail Markets, Study Reveals

Developments in Latin America’s retail markets are driven by six key trends in consumer behavior, according to market research firm Kantar Worldpanel. Data from the report Shopper & Retail Dynamics LatAm revealed market growth varied in the 10 countries covered by the study. Although Latin America posted the greatest growth in retail value at 12.2 percent in the world, growth rates were not uniform, with differences between regions, categories, and channels. In 60 percent of Latin American countries, shoppers reduced their frequency of purchase, with reductions most notable in Venezuela, Brazil, and Bolivia. Latin American consumers are searching for proximity and tradition, with 68 percent of consumers looking to shop near their home and have a good relationship with the seller. In 70 percent of the countries, products with promotions have had a higher growth rate compared with products without promotions.