The population in Peru continues to expand, driven by stable natural change and rising life expectancy. The country faces the arrival of refugees from neighboring countries due to political unrest. Gen Z maintains the position as the largest generational cohort, and is expected to remain as such until 2040. Families with children remain the dominant household type. Consumer expenditure is focused on essentials, while consumers also value sustainability and engage online in their everyday lives.
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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 Peru 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 Peru report answers:
- How consumers in Peru are changing?
- What are key changes in Peru population, society and generational structure and how it is affecting businesses?
- What is the household structure in Peru and how it is changing consumer landscape?
- What are key income groups in Peru? What is the outlook for the future?
- Where consumers are spending the money in Peru?
- How is the consumer mindset in Peru changing?
- In Peru, what are consumer attitudes towards “green” and sustainable products?
- Where and how do consumers shop in Peru?
Scope
Key findings
Key drivers affecting consumers in Peru in 2023
How developments today shape the consumers of tomorrow
Today 2023: Median age relatively young, Gen Z remains the most powerful cohort
Today: Starting family young allows growing population
High blood pressure and raised cholesterol much rarer than in the rest of LATAM
Tomorrow 2040: As life expectancy rises, oldest age groups’ growth set to accelerate
Tomorrow: Gen A the only cohort to grow, although Gen Z remains most influential
Tomorrow: Lima will continue to grow with a third of Peruvians set to live in the capital
Opportunities for growth
Case study: Peruvian government grants free electronic IDs for vulnerable children
Today: Couples with children remain the highest spending household type
Today: Single person households is the fastest growing household type
As urban crime increases, Peruvians rank safe location as the most important home feature
Tomorrow 2040: Almost half of households will opt out to be child-free
Tomorrow: Traditional gender roles to persist as men continue to lead households
Tomorrow: Strong direction towards digitalisation growth by 2040
Opportunities for growth
Case study: Chocuy supplement from local ingredients aims to help malnourished children
Today 2023: The lowest social class continues to account for the biggest share of population
Today: More than half of Peruvians plan to cut spending as cost of living increases
Today: Almost half of Peru’s population is unbanked, and two thirds underserved
Tomorrow 2040: Peruvians will be better off as the lowest social class shrinks
Tomorrow: Gender pay gap narrows, but men continue to have much higher disposable income
Tomorrow: Tourism expected to keep consumer expenditure in Cusco above average
Opportunities for growth
Case study: A new hard discounter chain, 3A, inaugurated as Peruvians look for savings
Key findings of consumer survey
Today: When shopping for household essentials, Peruvians prioritise quality over price
Today: Peruvians save money by shopping bargains and buying less but higher quality
Today: Peruvians are much more likely to reduce plastic use than the global average
Today: Regardless of tough economic situation, many Peruvians save a portion of income
Today: Work-life balance top-priority for all cohorts except Gen Z, who prioritise high salary
Opportunities for growth
Case study: Circular stores enter Jockey Plaza shopping mall in Lima
Key takeaways
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Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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