Consumer - Overview - in - Colombia 2020
Consumer - Overview - in - Colombia 2020
November 2020
Consumer Overview in Colombia
▪ Life Priorities
▪ Home Life
▪ Eating Habits
▪ Working Life
▪ Ethical Life
▪ Leisure Habits
▪ Health
▪ Shopping
▪ Technology
CONSUMER OVERVIEW IN COLUMBIA
▪ The data collected via the Lifestyles Survey in 2020 were prior to the large-scale and
unprecedented impact of COVID-19. However, these consumer data remain relevant
in today’s climate as they show growth trends which are likely to be even stronger in
the wake of COVID-19, including those that are covered in this report. For example,
the growing interest of consumers in seeking more convenient online platforms for
shopping and connecting with others, growth in holistic approaches to healthy living
and demanding flexibility and more options to balance work and home life, are
trends we have seen in both our 2019 and 2020 Lifestyles Survey data. These trends
are still extremely relevant and are expected to continue to grow at a faster rate due
to the impact of COVID-19.
▪ Though we cannot say for sure how COVID-19 will impact consumers and their
lifestyle habits in the future, our Lifestyles Survey data show which trends are most
important to consumers and are likely to continue being part of their lifestyles and
behaviours, therefore allowing businesses to understand consumer priorities and
strategically plan next steps in an unknown landscape.
Home life
▪ With the Bogotá metro area now home to around 11 million people, as
many as 82% of the country’s households are classified as urban. Indeed,
our survey found that Colombians are more likely than their global peers
to prioritise an urban or city location when looking for a home (37%,
versus 28%, respectively).
▪ In light of Bogotá’s high crime levels and the presence of dense hillside
slums, safety and convenience are high on the agenda for home-seekers.
As many as 67% of respondents desire a safe location, and 47% (well
above the global average of 39%) want to be close to public transport.
▪ Given that it is common for Colombians to live in extended families, 31%
of households consist of multiple people. Even before the pandemic, the
home was a hub for entertainment, with 78% of respondents saying they
socialised with the people they live with at least weekly. The
countrywide lockdown meant that people spent more time inside in
2020, driving demand for in-home entertainment, online shopping and
digital communications.
▪ As in many other Latin American countries, owning a pet is very
common in Colombia. As many as 71% of respondents have one,
compared with 56% of their global counterparts. Due to the ongoing 60% already worked at home
trend towards pet humanisation, 74% consider their pets as beloved at least weekly pre-pandemic
members of the family, fuelling demand for premium pet food and health
products.
Ethical life
Leisure
Leisure habits
Leisure: holidays
Health (1)
Health (2)
Shopping
Technology
▪ Despite its rapid progress, Colombia still lags behind other countries in
the region when it comes to internet access: just 50% of households had
access to broadband in 2020. Mobile development has been a priority of
President Duque’s administration, which has a goal of implementing a
commercially active 5G network by 2022.
▪ Significant barriers to digital uptake have been widespread consumer
distrust in online payments and the high numbers that remain
unbanked. However, this is changing as payment apps and digital wallets
emerge, such as the Tpaga app, which can be used by unbanked
consumers to make all kinds of payments after topping their account up
with cash. Our survey found that 62% of Millennials used a mobile
banking app at least weekly and 47% made an in-store mobile payment
pre-pandemic.
▪ Affluent urban consumers are the biggest users of mobile devices, which
are infiltrating every area of life, from communications to entertainment
and personal finance. As many as 92% of respondents have a
smartphone and 24% own a fitness wearable – somewhat higher than
56% of respondents are
the global average of 19%.
highly influenced by internet
▪ An enormous 93% of consumers, versus 80% of their global peers, use a ads
messaging app at least weekly, with WhatsApp and Facebook Messenger
the preferred social messaging apps for Colombians. 82% use their
phone to access social media at least weekly, and 32% (compared with
23% globally) say they make purchases via social media platforms.