Venezuela consumers face high economic pressure and limited spending margins

A study by More Consulting reveals that economic pressure is significantly altering consumer behavior in Venezuela. According to the ‘Radiografía del Nuevo Consumidor Venezolano’, 81.3% of consumers have stopped purchasing certain products due to high prices, while 72.8% now conduct much more thorough analysis before making a purchase.

The report highlights a lack of financial resilience, noting that 67.3% of consumers are ‘little or not at all prepared for an unexpected expense’. Inflation and insufficient income levels have forced many to live day-to-day; 43.7% of the population reports living with no financial margin, with high percentages of both rural and urban poor reporting similar precariousness.

This economic environment is fostering a more reflective and calculating consumer base, as the high cost of living leaves little room for impulsive spending.