Colombia

The availability of charge cards remains negligible in Colombia due to the preference for other payment methods. While there have been some attempts to introduce such cards, especially in corporate banking, they have proven unsuccessful so far, with ...

Cobranded plastics are the preferred new product development strategy in credit cards. For example, relative recent newcomer Itaú is focusing its credit card developments on cobranded cards (with Avianca) to provide travel miles for purchases. ...

Banking transactions are increasingly easy for users. Banks started out with banking mobile apps, as an extension of online banking via mobiles, to allow users to make balance enquiries, transfers, request new products and pay for some services. The ...

Financial cards are part of the daily lives of Colombian consumers, being used for all manner of daily activities. While usage is now saturated in some areas, such cards play a major role when it comes to acquiring a vast range of different products ...

Prepaid demand is being fuelled by growing interest among commercial debit card holders as such products have become more convenient for companies. Open-loop prepaid cards with debit and/or ATM function have some advantages compared to debit cards. ...

Store cards fuel loyalty by allowing customers to acquire products from certain stores. Therefore, it is not difficult for consumers to access store cards, even with a lower credit rating than required for conventional credit cards. However, although...

During the review period, no significant changes were apparent regarding packaging types within the different hot drinks categories. Preferences remain strongly oriented towards flexible packaging, which continues gaining share at the expense of ...

2018 was in general a better year for soft drinks than 2017. Companies strongly focused on innovation in pack sizes, not only following health and wellness trends related to portion control, but also to be able to offer consumers alternatives for ...

Due to the decelerating economy, durables gross lending saw positive but more moderate growth in 2019 compared to the review period as consumers are becoming more cautious. In light of the sluggish economy and GDP growth, consumers are less willing ...

Colombia’s Banco de la República recently lowered the benchmark interest rate in line with its expansion policy, after bringing inflation under control. However, financial institutions have not lowered their interest rates at the same speed to ...

The continuing challenges in the Colombian economy - an economic slowdown, a negative consumer confidence index, an increasing tax burden and consumers maintaining caution in their expenditure - had a negative effect on many packaging types. ...

Colombia’s Ministry of Health of Colombia sounded an official warning about the possible outbreak of a dengue epidemic in the country in early 2019. National Institute of Health estimates said the possible number of cases could reach 120,000 over the...

Antitussives are among the best-selling products in OTC cough, cold and allergy (hay fever) remedies in Colombia and have continued to record strong growth in recent years. They are popular because they are easily accessible (OTC), there are a number...

A number of dermatological products have traditionally been surrounded by social stigma, for example vaginal and topical antifungals or haemorrhoid treatments. However, it would seem the stigma attached to these products is gradually being eroded, ...

In 2019, dietary supplements recorded similar current value growth to a year earlier, driven by Colombians’ increasing propensity for prevention. Cardiovascular disease, along with joint and bone ailments, are seen as the principal results of ...

Colombians are increasingly suffering stress-related digestive disorders such as heartburn, indigestion, constipation, diarrhoea and Irritable Bowel Syndrome (IBS). These illnesses are being addressed by OTC medication due to the self-awareness ...

Although there are no official figures, it is believed that up to 30% of Colombians suffer from dry eye syndrome. This figure rises to more than 75% of people in the over-60 age group, although the incidence of dry eye is also increasing among the ...

Herbal/traditional tonics once again recorded a sharp decline in current value sales in 2019, with part of the reason for its falling sales being due to its high prices. While this had a negative effect on the overall herbal/traditional products ...

NRT smoking cessation aids continued to remain unpopular in Colombia at the end of the review period, with the product range only including NRT gum. NRT smoking cessation aids continued to be perceived as ineffective, and did not benefit from ...

Paediatric analgesics – acetaminophen and ibuprofen – continued to account for the greatest share of consumer health sales in 2019. Parents have traditionally considered these products as safe and effective. Parents also tend not to switch to ...