Supermarkets experienced a spike in demand in 2020 as many Ecuadorians started consolidating grocery shopping trips to reduce potential exposure to COVID-19 and spent more time cooking and eating at home than usual due to social distancing, remote working and lockdown measures. These trends subsided somewhat in 2021 after the rollout of vaccines and the easing of public health restrictions enabled consumers to begin resuming their normal routines, causing growth in supermarkets current value sales to slow.
Following its launch by Corporación el Rosado in 2019, Ecuador’s first hard discounters chain Tuti recorded high double-digit growth in current value sales over 2020-2021. Its initial success has been partly due to an aggressive expansion strategy that has enabled it to quickly achieve wide coverage and overtake Tía Express to become the largest discounters operator in the country in terms of outlet numbers.
COVID-19 had a very negative impact on forecourt retailers in 2020, with current value sales declining sharply due to the collapse in trade that resulted from home seclusion, remote working and lockdown measures. The channel rebounded strongly in 2021, however, posting double-digit current value growth as life in Ecuador began to return to normal and consumer mobility increased thanks to the rapid progression of the national vaccination programme and the relaxation of restrictions that had been imposed to curb the spread of the virus.
Ecuador was already experiencing significant economic problems before COVID-19 due to falling oil revenues and a widening fiscal deficit. While macroeconomic conditions should continue to improve over the forecast period in line with the further easing of the pandemic, recovery is likely to be slow.
Forecourt retailers looks set to record healthy growth in current value sales throughout the forecast period. In the short-to-medium term, the channel will continue to benefit as the diminishing threat from COVID-19 enables more Ecuadorians to resume their normal routines, which will increase traffic and footfall levels.
Convenience stores is projected to show the fastest growth in current value sales within modern grocery retailers over the forecast period. As with forecourt retailers, it will benefit from increased levels of movement among consumers as life returns to normal in the wake of COVID-19.
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Understand the latest market trends and future growth opportunities for the Modern Grocery Retailers industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Modern grocery retailing is the aggregation of those grocery channels that have emerged alongside the growth of chained retail. For Euromonitor, modern grocery retailing is the aggregation of five channels: Hypermarkets, Supermarkets, Discounters, Forecourt Retailers and Convenience Stores. While there can be traditional (i.e. non-chained) supermarkets or forecourt retailers, for example, due to the store's presence in the channel, these stores are still considered as modern for Euromonitor International.See All of Our Definitions
This report originates from Passport, our Modern Grocery Retailers research and analysis database.
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