Read our latest reports on Latin America here, with analyses and ...
Read our latest reports on Latin America here, with analyses and market statistics that explore the evolving consumer preferences, market environment and inherent growth potential in individual countries, or briefings that assess key strategic themes...
Northern Chile is not known for being an apicultural region due to its desert-like climatic conditions. However, a beekeeper from Pampa del Tamarugal has managed to produce honey; María Eliana Jofré hails from the town of La Huayca in the Tarapacá…
In baked goods in Argentina packaged flat bread and packaged leavened bread lead growth in retail volume sales for 2023. This surge in demand is partly attributed to the relatively low household penetration of packaged bread compared with its…
The ongoing war in Ukraine continues to impact bread production in Chile, as part of challenges felt on a wider scale. As Russia is one of the world's largest wheat exporters, disruptions to its wheat production and supply chain resulting from the…
Tortillas (flat bread) is the most popular and affordable format of baked goods in Mexico, and often considered a staple in most local households. In 2022, flat bread registered a strong increase in average unit price, due in part to the impact of…
In 2022, breakfast cereals in Argentina suffered stagnant sales in volume terms, and in 2023 the category is seeing a marginal decline. This dip is down to the repercussions of the labelling law introduced towards the end of 2021, which has altered…
Inflation and reduced at-home consumption occasions are influencing retail volume sales of breakfast cereals in Chile, shaping the category’s dynamics in profound ways. Inflation is severely impacting the production costs of breakfast cereals.…
Retail volume sales of breakfast cereals in Mexico are continuing to gradually increase in 2023. However, the performance varies significantly among the different types. Children's breakfast cereals leads the expansion in 2023, driven by the…
When presented with a choice between a credit card and a card offering credit card-like functionality but without revolving credit, most Brazilians opt for the former. This inclination is rooted in a fundamental factor hindering charge cards from…
In June 2023, the percentage of households carrying outstanding debts in Brazil rose by a 0.2 percentage point, reaching a total of 78.5%, the highest level since November 2022. Among these households, 18.5% considered themselves heavily burdened…
Brazilians are well-acquainted with dividing payments into instalments, a practice prevalent in both traditional retail credit (known as "crediário") and credit card payments. The compounding effects of inflation, a challenging job market, and…
Sales of cooking ingredients and meals rose marginally in volume terms in 2023 as the home cooking trend experienced during the pandemic faded dramatically. Inflationary pressures and economic uncertainty stimulated growing price sensitivity which…
While in Brazil, the number of debit cards in circulation still surpasses that of credit cards, the latter is experiencing a more rapid growth trajectory. This surge in credit card usage is fuelled by the increasing digitisation of financial services…
Debit cards in Brazil have enjoyed continuous growth as an increasing number of Brazilians shift away from traditional paper-based payment methods such as cash and cheques. This transition is driven by the ongoing digitisation of financial services…
In 2023, Brazil's finance industry is undergoing rapid transformations driven by an expanding banked population, digitalisation, and advancements in open finance. Concurrently, consumers are increasingly turning to credit in the face of adverse…
Local consumers increasingly seek the ability to utilise pre-paid cards in digital domains, spanning online shopping, food delivery services, and ride-hailing platforms. Brazilians also aspire to utilise pre-paid cards in diverse contexts, including…
Processed fruits and vegetables is subject to inflationary pressures in 2023. Notably, industry stalwarts like Mc Cain have withdrawn from the national Precios Justos programme, a move aligned with strategies to bolster profitability. 2023 has seen…
The per capita consumption of frozen processed vegetables in Chile differs significantly from that of other countries in the region, primarily due to health-related factors. In the 1980s, Chile experienced a severe cholera outbreak, impacting the…
Shelf stable beans is the largest retail volume category in processed fruit and vegetables, because it is primarily a key ingredient in traditional Mexican cuisine. Consumption per capita of shelf stable beans in Mexico is among the highest in Latin…
Processed meat, seafood, and alternatives to meat continues to record solid retail volume growth in 2023. However, it must be considered that in 2022, demand was weak due to the negative impact of high inflation. During 2022, local consumers were…
High inflation continues to impact the performance of processed meat and seafood in Chile, exerting substantial influence on both consumer behaviour and industry dynamics. The rise in inflation directly affects the purchasing power of Chilean…
Against the backdrop of diminishing purchasing power and soaring inflation in Argentina, private label products have carved a niche for themselves, often at the expense of branded goods, within processed meat and seafood. The review period has…
The rice sector in Argentina is witnessing a significant downturn in 2023, following a period of relatively robust performance the previous year. The previous boost in volume sales, facilitated by government-imposed price controls in 2022 that kept…
Retail volume sales of rice continue to be impacted by the enduring ramifications of inflation in Chile. As a staple food for a substantial portion of the world's population, rice holds a critical position in diets and culinary traditions. However,…
Although the impact of COVID-19 is waning in Mexico, many consumption habits adopted during the pandemic remain prevalent. While demand for rice, pasta, and noodles through foodservice has recovered to pre-pandemic levels, retail volume sales…
Within staple foods in Argentina, retail volume sales overall are seeing only marginal growth. While the prevailing economic turmoil is partially responsible for this, an array of additional factors is contributing to adverse effects on both supply…
In line with the waning impact of the pandemic in Chile as the country eased its restrictions, consumers were optimistic that the economic situation would improve significantly. However, this was quickly followed by Russia’s invasion of Ukraine,…
Retail volume sales of staple foods in Mexico continue to rise in 2023, although performances of the categories vary, depending on the level of price increases over the year and affordability. Despite prices trending to normalise with inflation rates…
One notable historical factor contributing to the popularity of store cards in Brazil is the ease of acquisition. Typically, consumers can swiftly register for a store card in-store, a process often completed in five minutes or less. This…
Charge cards represent a diminishing segment within the payment industry, primarily due to their inability to provide financing options. Consumers increasingly favour credit cards over charge cards when making purchases, further contributing to the…
Charge cards, which is predominantly represented by American Express, is expected to experience a remarkable resurgence in 2023. In this year charge cards is expected to rebound to around the pre-pandemic levels of usage and card issuance. This…
While the Buy Now, Pay Later mechanism is still in its early stages in the country, new companies are emerging with innovative models, such as GOcuotas. Despite being relatively small, GOcuotas is experiencing remarkable growth, boasting an annual…
Historically, when a consumer applied for a bank loan, the commitment was typically honoured until the debt was fully repaid because the process of making a change was costly and time-consuming. In 2020, Chile introduced the Financial Portability Law…
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…
Consumer credit is set to show continued consistent robust growth in gross lending in 2023, driven by improving employment and business performance, and wages that continue to recover in the wake of the pandemic. However, growth will encounter…
Consumer credit has continued to witness robust growth in 2023, albeit at a moderated pace compared to the preceding two years. This growth encompasses both outstanding balances and gross lending, having already rebounded to pre-pandemic levels in…
The credit market in Argentina remains highly restricted, primarily constrained to personal loans. The funds that banks receive from their clients are predominantly funnelled into a financial instrument called Leliq, which offers a lucrative…
Chile's economy faces challenges as bank credit declined in 2022, the most negative annual variation in 30 years. The economic slowdown stems from a gradual adjustment to previous macroeconomic imbalances, with range projections of -0.5%-0.25% in…
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…
The consumer lending landscape in Mexico is expected to continue to display growth in both gross lending and the outstanding balance in 2023. 2023 is proving to be particularly favourable for the growth and expansion of fintech companies, which…
Consumer lending has sustained notable growth in 2023, albeit at a more tempered pace compared to the robust expansions witnessed in the preceding years. This growth encompasses both the outstanding balance and gross lending, surpassing pre-pandemic…
Price increases due to widespread inflation observed in 2022 continue in 2022, albeit at a slower rate. According to Euromonitor International's Voice of the Industry: Food Survey 2023, 90% of the food industry has been impacted by inflation and the…
Banks in Argentina are grappling with a complex situation as the promotion of credit cards has become less lucrative. The regulated interest rates imposed by the Central Bank have limited the profitability of offering credit cards. Both the interest…
Credit cards in Chile are undergoing a fascinating transformation, driven by the increasing digitalisation of consumer finance. A surge in digital transactions, including via credit and debit card operations, has led to a significant shift towards…
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,…
The number of credit cards in circulation is set to witness remarkable double-digit growth in 2023, accompanied by even stronger surges in transaction volumes and values when compared with the previous year. These impressive performances not only…
The landscape of credit cards in 2023 exhibits a dynamic where growth, while still apparent, has tapered in comparison to preceding years. This slowdown is a result of heightened prudence exercised by users, stemming from their concern over the…
The high inflation rate in Argentina has led to a significant increase in the use of debit cards. The government has refrained from printing higher denomination bills, and the highest available denomination is ARS2000, roughly equivalent to USD8 at…
The latest “National Survey on Cash Usage and Preferences” from Chile’s Central Bank reveals intriguing shifts in payment preferences post-pandemic. In 2022, despite another decline in value, the number of personal cash transactions rebounded to…
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…
In 2023, debit cards is set to experience robust double-digit growth in volume and value transactions. Moreover, in 2023 it is expected to achieve full recovery, surpassing the performance observed in 2019, in terms of the number of cards in…