Colombia | Evolving consumption: demographic shifts and regional dynamics shape trends

Summary

Consumption in Colombia mirrors demographic and geographic shifts. With smaller households, an aging population, and healthier choices, spending on health and fresh foods rises, while intermediate cities gain economic importance. However, low savings limit future consumption potential.

Key points

• Key points:
• Consumption preferences are shifting towards healthier and fresher foods, reflecting increased awareness of well-being and demographic changes, including an aging population and smaller household sizes.
• Intermediate cities are becoming emerging economic hubs, expanding consumption and attracting investment in durable goods, thus stimulating regional economies and creating new market opportunities beyond major capitals.
• Income inequality remains a challenge, with significant disparities between urban and rural areas. Single-person and childless households exhibit higher per capita income, while families with children face more economic limitations.
• The low household savings rate, still below pre-pandemic levels, threatens long-term consumption potential, highlighting the need for policies that encourage savings and strengthen household income.
• While consumption drives the economy, there is an opportunity to steer this dynamic towards greater productivity and sustainable economic growth by adapting supply to meet new market demands.

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