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Learn more69 pages, Feb 2019
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Immersed in a general low confidence index context and facing a significant macroeconomic adjustment driven by an anticipated general tax reform, the value performance of the overall retailing industry remained restricted, which affected all segments of the local population. In this context, consumers’ spending habits were reflected in general cutbacks across most retailing categories.
As locals continue to adopt modern lifestyles and gain further access to multiple retailing alternatives, pricing strategies based on discounts and promotions as well as more convenient shopping solutions, are expected to continue to drive retailing trends. Despite the uncertain economic scenario, there was further consolidation of multiple modern retailing formats.
Retailing remained stifled by the further expansion of major international retailers that continued to gain selling space and operational scale with aggressive penetration strategies. Walmart’s recent purchase of the second largest (in selling space) modern grocery retailing player in Costa Rica (Grupo Gessa) meant the immediate addition of 52 new supermarkets across the country.
As local buyers continued to face an expanding base of retailing options both in-store and online, brands leveraged their individual strengths to remain competitive in an increasingly consolidated market. This scenario resulted in more aggressive pricing competition and key players choosing to update their customer service practices to help reinforce brand loyalty and generate a constant repurchase dynamic.
Given the continued and increasing relevance millennial buyers will have in the retailing dynamics of Costa Rica over the next five years, it is anticipated that demand for more convenient and affordable shopping options will further boost the performance of virtual selling platforms by 2023. International competitors such as Amazon and AliExpress are expected to increase their presence across the region.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Retailing industry in Costa Rica with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Retailing industry in Costa Rica, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Costa Rica for free:
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This industry report originates from Passport, our Retailing market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.