Mexico City.- The slow post-pandemic recovery of the mass consumption industry and the changes in consumer needs force companies in the sector to make relevant, but above all rapid, changes.
Ángel Estrada, Partner at EY-Parthenon, considered that it is not possible to determine how much consumer spending has been reduced in the face of economic uncertainty, but it is clear that changes in their behavior continue.
“Knowing how much people spend per capita is complex, it is more about what people are doing with the spending they have today and how they are distributing it.
“The reality of each of the countries is different, but what is common to all is that the growth of the economies during 2023 will be less than that of 2022,” he warned when presenting the study “Mass consumption: opportunities to face the challenges of the industry in Latin America”.
He pointed out that it is foreseeable that this year there will be an economic slowdown, with high levels of inflation that are affecting consumers not only in how much they consume, but also in how they spend what they have.
“Given the high producer price increases that companies are having and to be able to partially transmit these increases to the final consumer, what many companies are doing is offering smaller portions, smaller volume of the product.
“But people are also increasing the frequency of purchases, if before a person bought every 15 days, today they do it every week or several times a week,” said Estrada.
