Peru

Peru’s economy is highly dependent on natural resources. This exposes the country’s exports to global commodity price shocks and to a Chinese economic slowdown. Nevertheless, government finances are healthy and able to withstand external pressures, ...

Although value sales and transactions with credit cards are increasing, these cards are still often used for higher-value purchases and less for general everyday consumption. As a result, they tend to be mostly used for purchases in establishments ...

Debit cards have been growing at the fastest pace in volume and value terms among financial cards. This is being driven by increasing banking levels and expansion of merchant acceptance of these cards, such as networks of agents that allow consumers ...

There are no charge cards in circulation in Peru. They are not expected to appear in the forecast period....

Financial cards and payments continued to record growth in cards in circulation, transactions and overall value in 2019. Peru’s economy remains one of the fastest growing in the region, with real GDP rising, low inflation and increasing employment ...

Pre-paid cards are experiencing fast growth and are expected to continue expanding, as there are still a large number of people, who, for a variety of different reasons, are unbanked, but need to transfer money or want access to e-commerce. Pre-paid ...

Store cards is a shrinking category due to key historic players like Falabella or Ripley preferring to develop relationships with operators with a wider coverage, like Visa or Mastercard, which gives them the possibility of achieving a greater number...

Packaged food recorded accelerating retail value and volume growth in 2019, driven to a large extent by the ongoing popularity of the health and convenience trends. Packaged bread witnessed strong growth as its longer shelf life offers increased ...

Peruvians tend to use edible oils when cooking most meals, including animal proteins such as chicken or red meat, as well as rice and grains. Almost all cooked dishes in the country have a base or foundation of fried garlic, onion and other spices, ...

Despite strong growth towards the end of the review period, ready meals remained a niche in 2019. Cooking with fresh ingredients, instead of purchasing ready meals, is cheaper in Peru. Unit price is extremely important, especially for medium and ...

Sauces, dressings and condiments are important in the preparation of Peruvian food and are frequently used in large quantities. Cooks often add cumin, onion, garlic, monosodium glutamate, salt or coriander to dishes. Many of these are purchased ...

The ongoing decline in soup consumption is being driven by the health trend, as consumers associate these products with high chemical content and Peruvians prefer freshly cooked meals. There is a common belief that dehydrated soup, which holds the ...

The increasing health awareness among consumers is likely to lead to lower retail volume growth for all sweet spreads over the forecast period than that witnessed over the review period. The only exception is set to be honey, which is regarded as a ...

Bread continued to represent the vast majority of sales of baked goods in 2019, with artisanal products dominating the category, as these products are regarded as fresher as they are baked on a daily basis. French bread, similar to small baguettes, ...

Breakfast cereals recorded strong growth over the review period due to changes in eating habits. Consumers are looking for more convenient options, which are nutritious but at the same time can be prepared rapidly. They seek different breakfast ...

Fresh fruit and vegetables are widely available in most outlets at much lower prices than processed variants in Peru and are significantly more popular in the country as fresh products are considered to be more nutritious. The only processed variant ...

In a widely published report early in the review period, the World Health Organization classified processed meat as Group 1 carcinogenic to humans, which means it believes there is “convincing evidence that the agent causes cancer”. Hot dogs are ...

Rice represents the bulk of all sales of rice, pasta and noodles because it is the most consumed food in Peru, eaten daily by consumers within all socioeconomic levels. It is mostly produced locally. Rice is sold through all distribution channels and...

The digital transformation currently being undertaken by the leading banks is increasingly allowing them to offer new products to reach previously underserved or completely unserved consumer segments. For example, the digital channel enables banks to...

Consumer lending continued to record strong growth in gross lending and outstanding balance in current value terms in 2019, up slightly on the year-earlier figures as well as the review period CAGRs. Growth in lending is being triggered by ...