Consumer Lifestyles in Venezuela

Consumer Lifestyle

About This Report

Sep 2014

With one in four Venezuelans officially poor and one in ten living in extreme poverty, many consumers are having a tough time making ends meet, particularly with inflation running at 56%. Regardless, consumption levels remain high as consumers snap up goods in anticipation of supply issues. Imported goods are far cheaper than domestic goods, resulting in imports accounting for more than 60% of those consumed.

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Consumer Lifestyles in Venezuela

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TOP FIVE CONSUMER TRENDS

Inflationary pressure curbs consumer spending
Young consumers drawn to social networking sites
Scarcity of staple goods is changing consumption habits
Consumers spending more with credit cards
Consumers increasingly shop online to get around burdensome exchange controls

CONSUMER SEGMENTATION

Babies and Infants
Venezuelan mothers prefer milk formula
High demand for day-care services among working parents
Kids
Baseball and music: the most popular after school activities
Tweenagers
Increasing use of mobile phones at schools
Teens
Internet penetration rate is increasing among teens
Young Adults
Saving by spending on durable goods
Young adults prefer to drink beer
Middle Youth
Entepreneurs are betting on websites to start their own business
Mid-lifers
Mid-lifers take care of themselves
Mid-Lifers demand for health insurance on the increase
Late-lifers
Late-lifers have welcomed health insurance plans
Increasing need for nursing and geriatric services
Chart 1 Population Aged 15-64 Compared with Old-Age Dependency Ratio 2000-2020
Table 1 Consumer Segmentation and Population Data 2000, 2005, 2011, 2012, 2013, 2016

HOUSING AND HOUSEHOLDS

Home Ownership
Household Profiles
Running Costs
Widespread use of energy saving light bulbs
Venezuelans spend more on security services
Chart 2 Number of Households by Disposable Income Bracket 2005, 2010, 2016
Table 2 Housing and Households Data 2000, 2005, 2011, 2012, 2013, 2016

MONEY AND SAVINGS

Attitudes toward Payment Methods
Savings
Loans and Mortgages
Venezuelans use credit cards to compensate falling purchasing power
The use of the E-wallet is expected to grow in popularity
Chart 3 Consumer Lending Compared with Savings and Savings Ratio 2000-2016
Table 3 Money and Savings Data 2000, 2005, 2011, 2012, 2013, 2016

EATING AND DRINKING

Eating Habits
Fast food chains lose ground to traditional food restaurants
Gourmet food is in vogue
Venezuelans are sushi lovers
Drinking Habits
Gourmet coffee trend is here to stay
Wine bars are fashionable
Chart 4 Real Growth in Consumer Expenditure Compared with Real Growth in Consumer Expenditure on Food and Alcoholic Drinks 2000-2016
Table 4 Eating and Drinking Data 2000, 2005, 2011, 2012, 2013, 2016

GROOMING AND FASHION

Perceptions of Beauty
Female Grooming
Male Grooming
Fashion Trends
Personal care products are a priority
Womens’ obsession with shoes
Chart 5 Real Growth in Consumer Expenditure Compared with Real Growth in Consumer Expenditure on Clothing, Footwear and Personal Care 2000-2016
Table 5 Grooming and Fashion Data 2000, 2005, 2011, 2012, 2013, 2016

HEALTH AND WELLNESS

Attitudes to Health and Well-being
Obesity
Attitudes to Smoking
Running is all the rage
Chart 6 Real Growth in Public and Private Expenditure on Health Compared with Healthy Life Expectancy at Birth 2000-2013
Table 6 Health and Wellness Data 2000, 2005, 2011, 2012, 2013, 2016

SHOPPING HABITS

Main Household Shop
Shopping for Big-ticket Items
Personal Shopping
Shopping Online
Shopping online a latest trend hobby
Consumers aren’t faithful to brands
Chart 7 Index of Retail Sales through Discounters, Supermarkets and Internet Retailing 2000-2016
Table 7 Shopping Data 2000, 2005, 2011, 2012, 2013, 2016

LEISURE AND RECREATION

Staying in
Going Out
Sport and Fitness
Vacations
Public Holidays, Celebrations and Gift-giving
Subscription television services now more affordable
Growing demand for 4DX cinema
Chart 8 Percentage of Households in Possession of Cable TV; Satellite TV System; Internet Enabled Computer; Mobile Telephone; Video Games Console 2000-2016
Table 8 Leisure and Recreation Data 2000, 2005, 2011, 2012, 2013, 2016

GETTING AROUND

Private Transport
Public Transport
Commuting
Air Travel
Motorcycles sales grow at an accelerated pace
Boom of currency exchange tourism
Chart 9 Real Growth in Consumer Expenditure Compared with Real Growth in Consumer Expenditure on Transport Services and Purchase of Cars, Motorcycles and other Vehicles 2000-2016
Table 9 Transport Data: 2000, 2005, 2011, 2012, 2013, 2016