Mexico, Mar 10 (EFE) .- Consumption trends in Latin America have been modified by the economic impact of the pandemic as the preference for natural foods, personal care and health products has grown, according to a study released this Wednesday.
At the same time, consumers opt more for brands that give confidence and buy online so as not to socialize or go out to stores, according to the study ‘Stop The Trends’ by the consultant Luis Carlos Chacón.
The study highlights as one of the main challenges for companies to satisfy a consumer more concerned about having a feeling of well-being and product safety.
At the same time, the economic downturn has modified consumer behavior and companies are working on implementing new strategies.
“It is necessary to stop some trends such as excessive consumption and dependence on digital socialization,” said Chacón.
In some parts, excessive consumption has been detected, given the feeling of some people for fear of a certain shortage or feel good about buying products that may not be so necessary or it is not necessary to buy in excess, said the expert.
The study ensures that with the eventual end of the confinement, there is an opportunity for brands and services related to health, natural food over the industrially prepared, physical activity and personal care, among others.
Other trends is the change in favor of prosperity, so excessive consumption, dependence on digital socialization, the economy based on fossil fuels, self-centeredness as a social and environmental problem, packaging and management of waste.
According to data from ECLAC (Economic Commission for Latin America and the Caribbean), the pandemic has caused an unprecedented increase in poverty levels in the region with 22 million new poor during 2020, reaching 33.7% of the population.
The extreme poverty rate was 12.5%, levels that had not been observed in the last 12 and 20 years, respectively, modifying consumption trends.