Consumer Lifestyles in Ecuador

Consumer Lifestyle

About This Report

May 2017

Consumers have become more cautious on what they are spending their money on and are adapting their budget to the current economic situation. Some households are choosing to invest their money in saving accounts or mutual funds instead of investing in properties or big-ticket-items. Other households are cutting spending and searching for cheaper products in neighbourhood countries or through the internet.

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Consumer Lifestyles in Ecuador

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LIFESTYLES IN ECUADOR

Chart 1 Consumer Lifestyles in 2016

TOP FIVE CONSUMER TRENDS

The slowdown in the economy is changing spending habits
Consumers look online and across the border in search of cheaper goods
Increasing consumer demand for healthier food
Ecuadorians still going on holiday despite economic uncertainty
Sports participation on the rise

CONSUMER SEGMENTATION

Babies and Infants
More parents connect through the internet to find and share information
Stronger demand for more healthy and nutritious foods
Chart 2 Number of Babies and Infants (Aged 0-2) and Average Age at Childbirth
Kids
Parents are crossing the border to buy school materials for their children
Strong demand for Kids to participate in sports
Chart 3 Number of Kids (Aged 3-8)
Tweenagers
Tweenagers put pressure on parents to enrol them in summer schools
Increased use of social media
Chart 4 Distribution of Tweens (Aged 9-12)
Teens
Teens are well connected
Teens spend their money on drinks and snacks
Chart 5 Distribution of Teens (Aged 13-17)
Young Adults
Young Adults are more dependent on mobile phones
Young Adults want to take English courses for better job prospects
Chart 6 Distribution of Young Adults (Aged 18-19) and Age at First Marriage
Middle Youth
Millennials drive the generation of the enterpreneur
Middle Youth have more economic power
Chart 7 Distribution of Middle Youth (Aged 30-44)
Mid-Lifers
Consumers go online for their health and beauty products
Mid-Lifers interested in investing in property in Miami
Chart 8 Number of Mid-Lifers (Aged 45-59)
Later-Lifers
Grandparents raising their grandchildren as parents work abroad
Retirees indulge in travel and leisure pursuits
Chart 9 Number of Later-Lifers (Aged 60+) and Life Expectancy

EATING AND DRINKING

Eating Habits
Consumers spend less on eating out
Food trucks, the new urban trend for accessible food on the go
Chart 10 Consumer Spending on Food and Non-Alcoholic Drinks: 2016
Drinking Habits
Consumption of craft beer is increasing among different consumer segments
Chart 11 Consumer Spending on Beer, Wines and Spirits: 2016

HEALTHY AND ETHICAL LIVING

Attitudes to Health and Wellbeing
Increasing demand for alternative medicine
Chart 12 Consumer Expenditure on Personal Health: 2016
Ethical Living
Chart 13 Obese and Overweight Population by Gender: 2000-2015
Sport and Fitness
“Quito Ultimas Noticias 15k” race, motivates thousands of people to participate
Chart 14 Percentage of Households Owning a Bicycle: 2016

HOUSE AND HOME

Home Ownership
Sense of insecurity has boosted demand for home security
Economic downturn has pushed Ecuadorians to search for low cost housing
Chart 15 Overview of Households: 2016
Household Profiles
Chart 16 Households by Type and Occupants
Running Costs
Increasing awareness on the use of solar panels to save energy at home
Chart 17 Running Costs per Household: 2016

LEISURE AND RECREATION

Leisure Time
Buying an affordable DVD or Blu-ray represents better value than going to the cinema
Vacations
Consumers prefer to travel to Colombia to combine shopping and tourism
Chart 18 Holiday Time: 2016
Opportunities for Celebrations and Gift-Giving

TECHNOLOGY

The Internet
Popularity on the demand of taxi apps
Chart 19 Accessing the Internet: 2015
Attitudes towards Social Media and Networking

GROOMING AND APPEARANCES

Investing in Yourself: Female Personal Grooming and Hygiene
Growing demand for chemical free beauty products
Chart 20 Consumer Expenditure on Personal Appearance: 2016
Investing in Yourself: Male Personal Grooming and Hygiene
Style Icons and Celebrity Influences

SHOPPING

Main Household Shop
Chart 21 Main Household Shop by Retailer Type: 2016
Shopping for Big-Ticket Items
Shopping Online
Black Fridays and Cyber Mondays attract more to online shopping
Chart 22 Internet Retail Spending: 2015

SPENDING AND SAVING

Attitudes towards Spending
Attitudes towards Savings
Attitudes towards Loans
Raising loans to travel around the country
Chart 23 Key Spending and Savings Measures: 2016