2023: a promising end
The surging consumption recovery that has prevailed
As we watched the narrative of 2023 draw to an end, we witnessed a resurgence in consumption. The signs were clear: FMCG inflation was declining after a year in which prices accelerated above inflation, triggering a notable increase in the number of units purchased per buyer. This phenomenon became particularly evident in the second and third quarters of the year, peaking out as inflation dropped to the lowest level in the last three years.
This transformation knew no borders and spread across all countries in Latin America. Brazil, with its outstanding performance, led the way to recovery, while others, such as Colombia and Chile, still remained in a moment of recovery.
The year of 2023 left behind a narrative of changes in consumer behaviour and an FMCG economy on a steady pace to recovery. We will examine the key factors that will influence the new year, and how the market can meet the promising expectations.
Going more often to the point of sale and choosing new, more channel formats were the key tools that enabled that recovery of FMCG volume in Latam.
