In the first month of 2022, Brazilians consolidated a change in habits that had been noticeable since the beginning of last year. experts heard by CNN point out that the replacement of more expensive brands by cheaper ones has become a trend over the last few months, due to the high inflation in food sold in Brazil.
The most recent survey of Brazilian Association of Supermarkets (Abras) shows an increase in the search for low-cost ‘Low Price’ brands among Brazilians in 2021.
One of the highlights in the matter is the cheapest cooking oil brands, which saw demand rise by almost 5% among Brazilians last year, when compared to 2020.
A product that recorded a price increase of 66% in twelve months, according to the study, coffee also followed the same trend, where consumers looked for brands with more modest values.
The brands with the best prices for the grain showed an increase in 2021, while the revenues of those with medium and premium costs fell by 3% and 4%, respectively.
As in the entire national territory, Rio de Janeiro also perceives the same movement in the markets.
Data from the Association of Supermarkets in the state of Rio de Janeiro (Asserj) show that 80.4% of customers exchanged products from more expensive brands. The survey shows that 25% of people from Rio de Janeiro needed, since the beginning of last year, to reduce the number of items in their cart to fit their budget.
Experts cite the main reason for the change in eating habits: inflation. After closing 2021 with the highest annual increase in six years, the IPCA rose 0.54% in January.
This is what the data released last week by the Brazilian Institute of Geography and Statistics (IBGE) points out. Thus, the index registers the most expressive value for the month since 2016.
“We realize that Brazilians are looking for the best value for money when shopping. This change in habits happens in times of financial difficulty, as is the current case. Due to high inflation, the population is beginning to look with greater affection for the most affordable brands in the markets”, explained the coordinator of the MBA in Financial Management at FGV, Ricardo Teixeira.
Source: CNN Brasil
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