Colombia: Consumer Profile

October 2023

Colombia's 2022 population growth is set to reverse between 2023 and 2040 due to negative net migration. Generation Z, the largest generation, seeks digital-native experiences. Colombians prioritise living in the present, embracing innovation, and valuing online interactions. Urbanisation is on the rise, creating infrastructure challenges, while the property market faces slowdown due to economic factors and soaring inflation is affecting living costs.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.


The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Colombia report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Colombia report answers:

  • How consumers in  Colombia are changing? 
  • What are key changes in Colombia population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Colombia and how it is changing consumer landscape?
  • What are key income groups in Colombia? What is the outlook for the future?
  • Where consumers are  spending the money in Colombia? 
  • How is the consumer mindset in Colombia changing?
  • In Colombia, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Colombia?
Scope
Key drivers affecting consumers in Colombia in 2022
How developments today shape the consumer of tomorrow
Key findings
Today 2022: Generation Z remains the largest cohort
Today: Venezuelans account for the majority of immigrants in Colombia
Today: Colombian consumers express enthusiasm for novelty and virtual experiences
Tomorrow 2040: Population will remain relatively young
Tomorrow : Generation Z will remain the largest generation cohort
Tomorrow : Bogota will remain the largest consumer market
Areas of opportunity
Case study: Bogota’s mayor’s office and CAF collaborates to build a metro line in the city
Today 2022: Majority of households continue to live in rented dwellings
Today: Couples with children remain dominant in 2022
Today: More Colombians value homes with access to green areas
Tomorrow 2040: Single-person households to become the dominant household type
Tomorrow: Colombia’s government seeks gender equality
Tomorrow: Colombian consumers value virtual experiences
Areas of opportunity
Case Study: Colombia's Ubits surges as e-learning leader in 2022
Today 2022: The lowest social class E continues to dominate in Colombia
Today: Price surge in alcoholic beverages, education, and food
Today: Colombian consumers face inflation-driven financial challenges
Tomorrow 2040: Social classes D and E to remain prevalent by 2040
Tomorrow: Middle class to witness modest growth
Tomorrow: Bogota's economic dominance projected to continue
Areas of opportunity
Case study: Colombia’s fintech leader Puntored is venturing into the Mexican market
Key findings consumer survey
All generations in Colombia have a positive outlook on their future
Colombians are looking for ways to save more
Colombians prioritise work-life balance
Real-life stores are still highly popular in Colombia
Over 70% of Colombians are worried about climate change
Case study: Colombian start-up makes accessories from recycled plastic
Areas of opportunity
Key findings
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