Andina

Peru: Consumption to peak in 2018 after 5 years

Compras en tiendas por departamento en el Centro Comercial Open Plaza de Angamos.Foto: ANDINA/archivo.

Compras en tiendas por departamento en el Centro Comercial Open Plaza de Angamos.Foto: ANDINA/archivo.

13:13 | Lima, Feb. 26.

This year, Peru's household consumption is expected to see its highest rebound in the last five years driven by growth expectations in the construction and agriculture sectors, according to international consumer panel leader Kantar Worldpanel.

"Peruvian household consumption would bounce back by 2.5% in volume and by 4.5% in value [in 2018], so long as the construction sector maintains its upward trend," Kantar Worldpanel Country Manager Francisco Luna told Andina news agency. 

Luna added the agriculture sector, being also labor-intensive, would contribute to increasing consumption as well. 

In addition, the senior executive highlighted the Peruvian Government's major public investment initiative. This, he explained, is bound to have a positive impact on construction, which will —in turn— boost household consumption

"We expect to see a clearer recovery in consumption as of the second quarter of this year if public and private investment maintain their pace in construction," he anticipated. 

On a different note, consumption of items such as snacks and beverages is expected to increase during the 2018 Russia World Cup, considering the participation of the Peruvian team in the mega event.

Finally, the Country Manager underlined Peruvian consumers lead the region in terms of frequency of purchase, up to 300 times.

(END) MDV/MVB


Published: 2/26/2018
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