12:20 PM
On Thursday, June 27, the results of the ranking of the most chosen brands by Colombians at the time of Mercar were announced and there were changes in the first and second places.
Marketing data and analytics company Kantar revealed that COca-Cola is the brand most chosen by Colombians when shopping, so in this edition the first position changes and Colgate remains in second place.
This information is in their annual study called Brand Footprinta detailed analysis of consumer purchasing habits. For example, In 2023, the basket of FMCG products that sell quickly and have a short shelf life continue to show accelerated growthdriven by rising prices, recording a annual value growth of 16%.
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However, according to the study, A decrease has been observed in the frequency of visits to points of sale, with -0.3%, between the first quarter of 2024 and the first quarter of 2021. This shift underscores the importance of brand loyalty as consumers make fewer shopping trips, Kantar said.
Also among the report’s findings Brand Footprint 2024 on Colombian brands, Kantar indicated that Rising prices and changes in purchasing habits are redefining consumer spending. “Purchases have become a strategy to face the current economic situation.”
For example, In 2023, spending in Colombia increased by 11%, with a variation of -6% in purchase frequency; while Annual spending per household on consumer brands stood at $1,050and the outlay per trip was 17% higher.
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On the other hand, there was a 32% increase in Discounters (a retail establishment that sells only or very mostly its own brands of low-priced and mass-market products), which is the channel where the highest spending is recorded. In turn, each Colombian household makes 274 brand decisions per month.
Regarding the top 10 most chosen brands in Colombia, the 12th edition of the ranking highlighted that Three dairy brands remain on the list: Colanta, Alquería and Alpina.
In that order, as mentioned, Coca-Cola took first place, followed by Colgate. In the third box was Colanta, then Refisal and Alquería. Diana was already in sixth position, followed by Alpina and Maggi. Closing the top were Fruco and Familia.
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Jaime García, country manager of Kantar in Colombia, said that the Colombian market is undergoing a significant transformation, due to the fact that Consumers are paying more for local and buying differentlyadapting to a new economic reality.
“Local and private brands are gaining groundand Discounters are becoming the fastest growing channel experiencing a development of 32%.”
The report also highlighted that 23% of spending goes to private brands, and 63% of consumer choices are local brands. Furthermore, 60% of brand decisions made by consumers are for small or medium-sized brands.
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For García, it is important that brands manage to adapt to changes in purchasing habits and the need to focus on consumer loyalty to remain relevant in an increasingly competitive market.
“On the other hand, Growing brands face a greater challenge to win elections, they had an increase of 1.9 penetration points in 2023considering that a penetration point is 110,000 Colombian homes.”
