Despite the challenging macroeconomic environment seen in 2017, 2018 showed a more stable economic situation and allowed the retailing industry to achieve stronger current value growth rates. The channels with the highest growth rates during the year included variety stores and convenience stores, which both benefited from strong expansion in outlets opened, and internet retailing, which is still growing from a very small base.
As urbanisation increases in Guatemala, shopping centres are expanding in both urban and rural areas. Shopping centres are no longer seen as shopping-exclusive outlets, since they are constantly increasing the entertainment and complementary services that they offer to attract more customers, increase the time they spend in the centre, and incentivise more shopping.
Wal-Mart Centroamérica SA continued to be the strongest retailing company in Guatemala in 2018. The company has a large chain of modern grocery retailers including discounters (Despensa Familiar and Maxi Despensa), hypermarkets (Walmart) and supermarkets (Paiz).
New international brands are being seen in Guatemala as globalisation continues to influence retail. International brands are popular among consumers of all socioeconomic levels but are stronger at the upper end of the market.
The retailing industry is expected to exhibit continued growth driven by urbanisation and increased disposable incomes. Several leading grocery and non-grocery retailers continue to expand in both urban and rural areas of the country.
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This industry report originates from Passport, our Retailing market research database.