A reported survey indicates that during the crisis, many people in Argentina have had to adjust their consumption habits. It highlights that, for example, 83% of Argentines have reduced or eliminated the purchase of usual products, replacing brands with more economical options and alternating stores in search of lower prices.
Among the most notable changes are the substitution of products such as loose cleaning items, chicken meat, cheaper oils, new seasonal fruits and vegetables, common white rice, dry pasta/noodles, tap water, and polenta. Additionally, it is observed that the winning brands in this context have been second brands, which have managed to grow at the expense of leaders in categories such as soft drinks, snacks, yogurts, among others.
Analyst Javier González mentions that mass consumption has focused on basic products like rice, noodles, and oils, and that people have begun to shop by jumping between different distribution channels. In this regard, store brands like Carrefour and Día have achieved significant growth in their sales.
On the other hand, the study reveals that Argentines have significantly reduced their spending in light of the economic crisis, with 48% of respondents considering that the consumption capacity of their households has worsened. It is noted that premium brands have been the most affected, while second brands have managed to position themselves more favorably in the market.
In the midst of this challenging situation for mass consumer companies, new strategies and consumption habits have been implemented, such as seeking cheaper brands, using supermarket promotions and payment methods, and buying in different places according to the product. All this in a scenario where mass consumption has experienced a drop of 12.7% from January to September.
