Latin America was one of the regions most affected by COVID-19, and it had some of the strictest and longest-lasting quarantines in the world. The greater the isolation, the greater the impact on consumption patterns.
Vaccination rates in Latin America remain far behind those of North America and Europe. Just 30% of the Latam population was fully immunised by the second quarter of the year and a slower rollout means slower economic recovery and more inequality.
The economic picture is already challenging. Inflation has reached its highest level in 10 years and the average unemployment rate (13%) is more than four times the global average (3%).
All of which has had an impact on shopping habits. To date, there have been lower levels of FMCG value growth and fewer categories winning new buyers.
Despite retail reopenings and vaccinations, some habits have persisted in the less favourable economic environment. Shopping frequency has remained at pre-COVID-19 levels and Latin America has lost one million shopping trips per month.
Our video highlights the impact of new shopping behaviours and how they affect both ends of the demographic spectrum, where we would normally expect to see different behaviours.
Watch the two-minute video (in English, with Portuguese and Spanish subtitles) and contact our local team for more information.