Venezuelan consumers prioritize food with 60% of income

Recent reports highlight significant shifts and psychological factors in Venezuelan consumer behavior. According to Ítalo Atencio, president of the National Association of Supermarkets and Self-Service (ANSA), Venezuelans now allocate at least 60% of their income to food purchases. Atencio noted that while food remains the priority, there has been a slight increase in spending on leisure and recreation due to increased competition and price stability among supermarket brands.

Consumer habits have also changed, with shoppers moving from large bi-weekly or monthly grocery trips to more frequent purchases, occurring between two and four times per week. The country's supply index is currently estimated at 98%.

Complementing these findings, a study by Datanálisis titled ‘Venezuelan Consumer Trends’ reveals a strong psychological component to spending. The study indicates that 63% of Venezuelans experience guilt when purchasing products for themselves, particularly when eating out. Economist Luis Vicente León explained that non-mandatory spending represents less than 5% of the average family budget, leaving minimal margin for personal expenses. The study also noted that age is a decisive factor, with younger consumers (18-24) being more likely to indulge in discretionary spending compared to those aged 35-44, who face greater family and medical responsibilities.