Rising prices worry 7 out of 10 Peruvian households

For 71% of households in Peru, prices are an important variable when making purchases, according to a recent study by the market research company Kantar. Along these lines, and as a direct consequence, 39% of the people surveyed said that they would be willing to consume brands that were cheaper for their pockets.

Mauricio Cheng, country manager of Kantar, highlighted the importance of understanding the reaction of the Peruvian consumer to the current economic situation, as well as the opportunities and challenges that households face in terms of consumer behavior.

“The country’s economic situation presents significant challenges. This leads us to cautious predictions in both inflation and customer behavior. It is crucial to understand the concerns and behaviors of the Peruvian consumer in terms of searching for lower prices,” he assured.

It is worth noting that in a latest study by Omnicom Media Group (OMG), Peruvians are burdened with a “sense of uncertainty” regarding the economic outlook, with 33% acknowledging that “they are making it to the end of the month just fine,” 28% receive the same, but they have also had to reduce their expenses and 15% had to use part of their savings to survive.

For this reason, they prioritize small and lower-cost products first and foremost when making their purchases, such as personal hygiene supplies, household cleaning items, and food from the basic family basket in general.

The data

Joint. In April, the price of food and non-alcoholic beverages in metropolitan Lima decreased by 0.86%, and it is relevant because it covers one fifth of the Consumer Price Index. Although from January to April it advanced by 1.73% and in the last 12 months it decreased by only 0.06%, according to the latest data from the INEI.