Buying habits

Rising incomes and a growing middle class are driving spending on an increasing array of areas, particularly self-indulgent ones such as travel, beauty and health.

A consumer segmentation section in the report breaks down the Colombia’s consumers by specific age groups, ranging from babies and infants to pensioners; highlighting the factors that influence purchasing decisions and the products in greatest demand for each segment.

Consumer Spending in Colombia increased to 87982 COP Billion in the third quarter of 2016 from 87980 COP Billion in the second quarter of 2016. Consumer Spen

ding in Colombia averaged 65717.04 COP Billion from 2000 until 2016, reaching an all time high of 88143 COP Billion in the first quarter of 2016 and a record low of 48365 COP Billion in the first quarter of 2000.

Improved security conditions, as crime rates fall, are also helping shape a more varied consumer market and encouraging Colombians to get out and spend. Technology is a major growth area across all demographics.

Sources:

http://www.euromonitor.com/consumer-lifestyles-in-colombia/report

http://www.tradingeconomics.com/colombia/consumer-spending

GR

Green Road

Buying habits

Consumer Spending in Colombia increased to 87982 COP Billion in the third quarter of 2016 from 87980 COP Billion in the second quarter of 2016. Consumer Spen

ding in Colombia averaged 65717.04 COP Billion from 2000 until 2016, reaching an all time high of 88143 COP Billion in the first quarter of 2016 and a record low of 48365 COP Billion in the first quarter of 2000.