Colombia: Buying and Selling
Colombian household consumption mainly concerns primary needs and education, but a change in consumer habits can be observed and Colombian consumers are increasingly willing to buy non-vital products. Colombian consumers are strongly influenced by fashion trends, brands and promotions, but there is also a strong influence of traditions on consumption habits. Colombians are currently experiencing increasing brand loyalty levels. Healthy and ethnic food categories are especially fast-growing, and organic food products are a new trend, as Colombian consumers are more concerned about ecological issues.
Regarding food products, consumers take heed of the brand's reputation, the quality of nutritional information and the attractiveness of the packaging. After-sales service and consumer support are decisive factors in the purchase decision. Only a minority of Colombians has a high purchasing power, and for the majority of Colombian consumers the price remains the main criterion.
Even though online commerce remains underdeveloped, it is growing steadily and has benefited a lot from the lockdowns due to the COVID-19. The growth rate of online sales in 2020 was 34% (Statistica). In the coming years, ecommerce is expected to benefit from massive investments in network infrastructure by the Colombian government. Colombian online consumers are used to buying from foreign websites, mainly American, Chinese, Mexican and Brazilian.
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Latest Update: May 2024