Retailing in Costa Rica

Retailing in Costa Rica

EXECUTIVE SUMMARY

COVID-19 impact on retailing

COVID-19 country impact

Looming economic crisis sees boom in private label and price sensitivity

Sustainability concerns increasingly shape retailing

What next for retailing?

OPERATING ENVIRONMENT

Informal retailing

Opening hours

Summary 1 Standard Opening Hours by Channel Type 2019

Physical retail landscape

Cash and carry

Seasonality

Christmas
Mothers’ day

Payments and delivery

Emerging business models

MARKET DATA

Table 1 Sales in Retailing by Store-based vs Non-Store: Value 2015-2020
Table 2 Sales in Retailing by Store-based vs Non-Store: % Value Growth 2015-2020
Table 3 Sales in Store-Based Retailing by Channel: Value 2015-2020
Table 4 Sales in Store-Based Retailing by Channel: % Value Growth 2015-2020
Table 5 Store-Based Retailing Outlets by Channel: Units 2015-2020
Table 6 Store-Based Retailing Outlets by Channel: % Unit Growth 2015-2020
Table 7 Sales in Non-Store Retailing by Channel: Value 2015-2020
Table 8 Sales in Non-Store Retailing by Channel: % Value Growth 2015-2020
Table 9 Non-Grocery Specialists: Value Sales, Outlets and Selling Space 2015-2020
Table 10 Non-Grocery Specialists: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 11 Sales in Non-Grocery Specialists by Channel: Value 2015-2020
Table 12 Sales in Non-Grocery Specialists by Channel: % Value Growth 2015-2020
Table 13 Non-Grocery Specialists Outlets by Channel: Units 2015-2020
Table 14 Non-Grocery Specialists Outlets by Channel: % Unit Growth 2015-2020
Table 15 Retailing GBO Company Shares: % Value 2016-2020
Table 16 Retailing GBN Brand Shares: % Value 2017-2020
Table 17 Store-based Retailing GBO Company Shares: % Value 2016-2020
Table 18 Store-based Retailing GBN Brand Shares: % Value 2017-2020
Table 19 Store-based Retailing LBN Brand Shares: Outlets 2017-2020
Table 20 Non-Store Retailing GBO Company Shares: % Value 2016-2020
Table 21 Non-Store Retailing GBN Brand Shares: % Value 2017-2020
Table 22 Non-Grocery Specialists GBO Company Shares: % Value 2016-2020
Table 23 Non-Grocery Specialists GBN Brand Shares: % Value 2017-2020
Table 24 Non-Grocery Specialists LBN Brand Shares: Outlets 2017-2020
Table 25 Non-Grocery Specialists LBN Brand Shares: Selling Space 2017-2020
Table 26 Forecast Sales in Retailing by Store-based vs Non-Store: Value 2020-2025
Table 27 Forecast Sales in Retailing by Store-based vs Non-Store: % Value Growth 2020-2025
Table 28 Forecast Sales in Store-Based Retailing by Channel: Value 2020-2025
Table 29 Forecast Sales in Store-Based Retailing by Channel: % Value Growth 2020-2025
Table 30 Forecast Store-Based Retailing Outlets by Channel: Units 2020-2025
Table 31 Forecast Store-Based Retailing Outlets by Channel: % Unit Growth 2020-2025
Table 32 Forecast Sales in Non-Store Retailing by Channel: Value 2020-2025
Table 33 Forecast Sales in Non-Store Retailing by Channel: % Value Growth 2020-2025
Table 34 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 35 Non-Grocery Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 36 Forecast Sales in Non-Grocery Specialists by Channel: Value 2020-2025
Table 37 Forecast Sales in Non-Grocery Specialists by Channel: % Value Growth 2020-2025
Table 38 Forecast Non-Grocery Specialists Outlets by Channel: Units 2020-2025
Table 39 Forecast Non-Grocery Specialists Outlets by Channel: % Unit Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 2 Research Sources

Modern Grocery Retailers in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Movement restrictions and shortened hours limit growth opportunity

Convenience stores and forecourt retailers hit hardest by lack of passing trade

Rising price sensitivity delivers opportunity to budget-facing retailers

RECOVERY AND OPPORTUNITIES

E-commerce shift set to develop as card penetration grows

Macroeconomic struggles will see more mid- and high-income families to look at value propositions

Consolidation in favour of international brands will continue

CHANNEL DATA

Table 40 Modern Grocery Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 41 Modern Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 42 Sales in Modern Grocery Retailers by Channel: Value 2015-2020
Table 43 Sales in Modern Grocery Retailers by Channel: % Value Growth 2015-2020
Table 44 Modern Grocery Retailers Outlets by Channel: Units 2015-2020
Table 45 Modern Grocery Retailers Outlets by Channel: % Unit Growth 2015-2020
Table 46 Modern Grocery Retailers GBO Company Shares: % Value 2016-2020
Table 47 Modern Grocery Retailers GBN Brand Shares: % Value 2017-2020
Table 48 Modern Grocery Retailers LBN Brand Shares: Outlets 2017-2020
Table 49 Modern Grocery Retailers LBN Brand Shares: Selling Space 2017-2020
Table 50 Modern Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 51 Modern Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 52 Forecast Sales in Modern Grocery Retailers by Channel: Value 2020-2025
Table 53 Forecast Sales in Modern Grocery Retailers by Channel: % Value Growth 2020-2025
Table 54 Forecast Modern Grocery Retailers Outlets by Channel: Units 2020-2025
Table 55 Forecast Modern Grocery Retailers Outlets by Channel: % Unit Growth 2020-2025

Traditional Grocery Retailers in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Smaller players struggle with pandemic protocols and consumer fear

Typical traditional grocery customers hit hardest by economic contraction

Consumers stay local as risks of travel and crowds are highlighted

RECOVERY AND OPPORTUNITIES

Strong sustainability awareness in Costa Rica may benefit smaller, more local players

Price flexibility offers potential to rebuild consumer base

Buyers’ groups can deliver better offer, stronger sales

CHANNEL DATA

Table 56 Traditional Grocery Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 57 Traditional Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 58 Traditional Grocery Retailers GBO Company Shares: % Value 2016-2020
Table 59 Traditional Grocery Retailers GBN Brand Shares: % Value 2017-2020
Table 60 Traditional Grocery Retailers LBN Brand Shares: Outlets 2017-2020
Table 61 Traditional Grocery Retailers LBN Brand Shares: Selling Space 2017-2020
Table 62 Traditional Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 63 Traditional Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Apparel and Footwear Specialist Retailers in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Non-essential shutdown and economic impact of virus see sales drop

Online weakness slows recovery, although flexible, innovative retailers develop work-arounds

Tourism collapse hits apparel and footwear specialist retailers from multiple directions

RECOVERY AND OPPORTUNITIES

International brand operators can benefit from experience and digital strategies

Sportswear consumers still less price sensitive, more brand conscious

Durability, sustainability offers opportunity to differentiate

CHANNEL DATA

Table 64 Apparel And Footwear Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 65 Apparel And Footwear Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 66 Apparel And Footwear Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 67 Apparel And Footwear Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 68 Apparel And Footwear Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 69 Apparel And Footwear Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 70 Apparel And Footwear Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 71 Apparel And Footwear Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025

Health and Beauty Specialist Retailers in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Essential stores thrive on consumer anxieties

Store closures and lack of occasion hit beauty and personal care sales,

Vitamin and dietary supplements miss opportunity

RECOVERY AND OPPORTUNITIES

Dietary health trends offer opportunity for wider positions

Digital models to augment in-store selling, despite payment obstructions

Opportunity for beauty and personal care sellers prepared to offer more

CHANNEL DATA

Table 72 Health and Beauty Specialist Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 73 Health and Beauty Specialist Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 74 Sales in Health and Beauty Specialist Retailers by Channel: Value 2015-2020
Table 75 Sales in Health and Beauty Specialist Retailers by Channel: % Value Growth 2015-2020
Table 76 Health and Beauty Specialist Retailers GBO Company Shares: % Value 2016-2020
Table 77 Health and Beauty Specialist Retailers GBN Brand Shares: % Value 2017-2020
Table 78 Health and Beauty Specialist Retailers LBN Brand Shares: Outlets 2017-2020
Table 79 Health and Beauty Specialist Retailers LBN Brand Shares: Selling Space 2017-2020
Table 80 Health and Beauty Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 81 Health and Beauty Specialist Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 82 Forecast Sales in Health and Beauty Specialist Retailers by Channel: Value 2020-2025
Table 83 Forecast Sales in Health and Beauty Specialist Retailers by Channel: % Value Growth 2020-2025

Mixed Retailers in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Restrictions see mixed retailers rapidly evolve to meet challenge

Supply line issues make retailers look at alternative sources

Warehouse club sales buoyed by value positioning as recession hits

RECOVERY AND OPPORTUNITIES

Department store model can be rebuilt, but challenges ahead

Adding value through service can offer opportunity

Innovation to exploit longstanding logistical capabilities

CHANNEL DATA

Table 84 Mixed Retailers: Value Sales, Outlets and Selling Space 2015-2020
Table 85 Mixed Retailers: Value Sales, Outlets and Selling Space: % Growth 2015-2020
Table 86 Sales in Mixed Retailers by Channel: Value 2015-2020
Table 87 Sales in Mixed Retailers by Channel: % Value Growth 2015-2020
Table 88 Mixed Retailers Outlets by Channel: Units 2015-2020
Table 89 Mixed Retailers Outlets by Channel: % Unit Growth 2015-2020
Table 90 Mixed Retailers GBO Company Shares: % Value 2016-2020
Table 91 Mixed Retailers GBN Brand Shares: % Value 2017-2020
Table 92 Mixed Retailers LBN Brand Shares: Outlets 2017-2020
Table 93 Mixed Retailers LBN Brand Shares: Selling Space 2017-2020
Table 94 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space 2020-2025
Table 95 Mixed Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2020-2025
Table 96 Forecast Sales in Mixed Retailers by Channel: Value 2020-2025
Table 97 Forecast Sales in Mixed Retailers by Channel: % Value Growth 2020-2025
Table 98 Forecast Mixed Retailers Outlets by Channel: Units 2020-2025
Table 99 Forecast Mixed Retailers Outlets by Channel: % Unit Growth 2020-2025

Direct Selling in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Restrictions on sales model see sales fall, although mixed performance by offer

Pandemic pushes digital evolution

Tourism collapse boosts recruitment in lower income consumer base

RECOVERY AND OPPORTUNITIES

Opportunity to grow new product categories for direct selling

Supported digital strategies will benefit producers and representatives

Social media-oriented models will facilitate recruitment

CHANNEL DATA

Table 100 Direct Selling by Category: Value 2015-2020
Table 101 Direct Selling by Category: % Value Growth 2015-2020
Table 102 Direct Selling GBO Company Shares: % Value 2016-2020
Table 103 Direct Selling GBN Brand Shares: % Value 2017-2020
Table 104 Direct Selling Forecasts by Category: Value 2020-2025
Table 105 Direct Selling Forecasts by Category: % Value Growth 2020-2025

E-Commerce in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Pandemic sees more consumers switch online for convenience, safety

Non-domestic operators and sales still dominate, despite obstruction of COVID-19

Entry of Walmart set to accelerate total e-commerce sales

RECOVERY AND OPPORTUNITIES

Costa Rica well-positioned for future growth in e-commerce

Domestic e-commerce players start to emerge

Macroeconomic challengers may offer opportunity for local pureplay e-commerce

CHANNEL DATA

Table 106 E-Commerce by Channel and Category: Value 2015-2020
Table 107 E-Commerce by Channel and Category: % Value Growth 2015-2020
Table 108 Forecast E-Commerce by Channel and Category: Value 2020-2025
Table 109 Forecast E-Commerce by Channel and Category: % Value Growth 2020-2025

Mobile E-Commerce in Costa Rica

KEY DATA FINDINGS

2020 IMPACT

Growth exaggerated by low base, but channel benefits from broader shift online in the wake of pandemic

Lack of apps is lingering barrier to growth in 2020

Younger consumers driving mobile e-commerce, sellers respond

RECOVERY AND OPPORTUNITIES

Digital payment growth threatened by economic uncertainty

Service-facing apps can bring consumers to mobile e-commerce acceptance

Local food producers set to benefit from government policy, opening doors for domestic mobile e-commerce players

CHANNEL DATA

Table 110 Mobile E-Commerce: Value 2015-2020
Table 111 Mobile E-Commerce: % Value Growth 2015-2020
Table 112 Mobile E-Commerce Forecasts: Value 2020-2025
Table 113 Mobile E-Commerce Forecasts: % Value Growth 2020-2025

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