Consumer_Lifestyles_in_Colombia

Consumer Lifestyles in Colombia
June 2024
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reserved.
CONSUMER LIFESTYLES IN COLOMBIA 22
Scope
This report is part of a series of 4 highly-visual reports covering the 40 markets surveyed in the Consumer Lifestyles offers valuable insights
annual Voice of the Consumer: Lifestyles survey. into key consumer attitudes and current
thinking, and their impact on purchasing and
Draws together insights from across the Lifestyles survey and
Consumer Lifestyles consumption habits; quantifying behaviours,
provides takeaways on key trends.
Lifestyles Country Report Series
preferences and motivations, and aligning

them with broader trends.
Reviews shifting consumer traits and values that influence
Consumer Values and purchasing and consumption behaviours. (Visual only
Behaviour report)
Explores consumers beyond their demographic profile and

Consumer Types provides a different perspective on shopping habits and
path to purchase.
Consumer Profiles - offer a concise and clear overview of the
Consumer Profiles consumer landscape, encompassing all aspects of population,
households, income and expenditure, and lifestyles Disclaimer
Connects survey insights with Euromonitor’s 10 megatrends, Much of the information in this briefing is of a
Megatrends including case studies highlighting how companies are statistical nature and, while every attempt has
been made to ensure accuracy and reliability,
responding to changing attitudes and expectations.
Euromonitor International cannot be held
responsible for omissions or errors.
Note: In the Lifestyles survey, respondents provide their age within 5-year increments (15-19, 20-24, 25- Figures in tables and analyses are calculated
29, etc). Given these parameters, generations cited in this report series are defined as follows: Generation from unrounded data and may not sum. Analyses
found in the briefings may not totally reflect the
Z: aged 15 to 29; Millennials: aged 30 to 44; Generation X: aged 45 to 59; Baby Boomers: aged 60+
companies’ opinions, reader discretion is advised.
Contents
Consumer landscape
Personal traits and values
Home life and leisure time
Eating and dietary habits
Working life
Health and wellness
Shopping and spending
Consumer landscape
CONSUMER LANDSCAPE 55
Consumer landscape in Colombia 2024

Population by Generation Median Age: Fertility Rate: Old-Age Dependency Ratio
% of total Years Children per Woman Over 65 as % of working age population
30% 40%
33.9 1.5 2040
25%
Life Expectancy at Birth:
20% 2024
Men Women
15% 2000
10% 74.8 80.6
0%
5% Households by Ownership 2000 2024 2040
0% % of total households
Generation Generation Z Millennials Generation X Baby Boomers
Alpha
Largest Cities
Owned % of total population
Total Population Number of Households Rented 0% 10% 20% 30%

Bogota
52.0M 18.6M
Medellín
Cali
Urban vs Rural Spending per Household (USD) Households by Type Barranquilla
% of total population % of total consumer expenditure % of total households
Cartagena
100% Other
Non-essentials USD10,571 Bucaramanga
Couple with Children Cúcuta
Avg
Food USD3,349 Pereira disposable
Single Person
Santa Marta income
Single-Parent Family Ibagué Colombia
Housing USD2,615
0% Couple without Children 0 5,000 10,000 15,000
2000 2024 2040 0 20 40 60 80 Disposable income per capita (USD)
0% 25% 50%
Source: Euromonitor International from national statistics % of Total Population
Note: Data for 2024-2040 are forecasts Disposable Income (USD per Capita)
PERSONAL TRAITS AND VALUES 77

In 2023, consumers continued to struggle with managing their
household budgets, with 76% of respondents expressing concern
that the cost of the everyday items they buy is going up. The
continued war in Ukraine and conflict in Palestine have contributed
to these concerns. Moreover, half of the global population is
expected to vote in elections in 2024, and the associated political
uncertainty could impact the global economy. 56% of Colombians
indicated they will vote in elections. 36% of respondents, including
30% of Gen Z, said they believe the world will be more dangerous in
the future.
Concern around climate change remains another important theme.
Regarding conscious consumerism, 70% of consumers felt they can
make a difference through their choices and actions. Looking ahead,
41% of respondents, including 43% of Gen Z, said they believe that
climate change will affect their lives even more in the future than it
does now.
Reflecting a growing interest in brands, 34% of respondents in
Colombia said they enjoy being actively engaged with brands, with
76%, including 65% of Gen Z, saying they want to engage with
brands to influence product innovation, and 65% only buying from
brands they trust completely.
Colombian consumers take health and safety precautions when they leave home
Consumers under pressure Personal values
% of respondents % of respondents
90%
80%
70%
60%
50%
I am concerned that the 40%
cost of everyday items 30%
20%
are going up 10%
0%
Take health and Feel they can Looking for ways Willing to spend Like to enjoy life Enjoy spending
safety precautions make a difference to simplify their money to save and don’t worry money rather than
when they leave to the world life time about planning for save it
home through their the future
choices and
actions
Colombia Global
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 1,000)
I am financially secure
0% 20% 40% 60% 80% 100% Consumers are becoming ever more price- 24% of respondents, including 28% of Millennials,
conscious, as inflationary pressures drive up costs. said they feel under constant pressure to get
Agree Strongly Agree
Only 10% of respondents said they intended to things done. In a move to create more balanced
Disagree Strongly Disagree
increase their overall spending over the next 12 lives, 59% reported setting strict boundaries
Neither Agree or Disagree
months, with 57% hoping to save more. between their work or school life and their
Source: Euromonitor Voice of the Consumer: Lifestyles
Survey, fielded January – February 2024 (n = 1,000) personal life.
Millennials prioritise time with their partners over time with their children
Ranking of life priorities by generation
% of respondents Additional insights on personal traits and priorities
Consumers in Colombia feel it is important to prioritise time
for themselves, with 54% citing enjoying personal time among
their top three priorities, including 58% of Gen Z and 49% of
Millennials. 59% said they will have more free time in the
future.
There is an increased focus on opportunities to travel since
COVID-19-related travel restrictions have been lifted. 18% of
respondents, including 14% of Gen Z, wanted to find time to
travel. This has led to 32% expecting to increase their
spending on travel over the next 12 months.
49% of consumers are dedicating time to their favourite

activities: 22% said they expect to increase visits to the
cinema, 28% take part in online video gaming, 72% stream
content and 14% said they engaged with metaverse platforms
at least weekly.
Spending time with friends is a top priority for 12% of
▪ Time for my favourite activities ▪ Time to travel ▪ Time with friends consumers, including 18% of Gen Z. 62% said they meet up
▪ Time for myself ▪ Time with children ▪Time with parents with friends and 27% entertain friends in their homes
▪ Time to volunteer ▪ Time with extended family regularly (at least weekly). 21% expect to increase visits to
▪ Time for work ▪ Time with spouse or partner restaurants, and 30% order food for home delivery at least
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 weekly.
(n = 1,000)
10
Baby boomers are more stringent about their health and safety when leaving home
Consumer identity and status Personal values
% of respondents (Agree/Strongly Agree with these statements) % of respondents
100%
It is important to experience 90%
cultures other than their own 80%
Their identity is accepted by 70%
60%
society (eg, gender, age, 50%
race/ethnicity/religion, income) 40%
30%
Feel comfortable expressing their 20%
identity with friends and family 10%
0%
I take health and I give back to those I only buy from Being active in the I am actively
Spiritual beliefs are an important safety precautions in need companies and community is involved in political
part of life when I leave my brands that I trust important to me and social issues
home completely
Like to be distinct from others Gen Z Millennials Gen X Baby Boomers

Want products and services that
are uniquely tailored to them
It is important to cultivate their 51% of respondents who said they prefer online virtual experiences also said they
personal brand online and to prefer to communicate online rather than face to face or by phone, while 27% said
manage others’ perceptions they use AR or VR to enhance their shopping experience.
Prefer to be anonymous online
(e.g.use an avatar or pseudonym Of the 34% who prefer to be anonymous online, 69% said they actively manage
on social media) data sharing and privacy settings according to their preferences. This included 73%
of Gen Z consumers.
0% 20% 40% 60% 80% 100%
Colombia Global Of the 66% of respondents who said they give back to those in need, 31% said they
donate to non-profits and charities, and 35% said they buy from brands that
Source: Euromonitor Voice of the Consumer: Lifestyles Survey,
fielded January – February 2024 (n = 1,000) support social and political issues that are aligned with their values.
11
Colombians open to exploring new products and service offerings

Brand engagement Attitudes towards experiences
% of respondents (Agree/Strongly Agree) % of respondents
100%
Like to try new products 90%
80%
and services 70%
60%
50%
Extensively research the 40%
products and services I 30%
20%
consume 10%
0%
Feel it is Value real world Seek curated Feel it is Shop in stores Value online Prefer online
Want to engage with important to experiences experiences important to that create virtual virtual
brands to influence product experience that are tailored spend money engaging experiences experiences to
other cultures to their tastes on experiences experiences real world
innovation experiences
Gen Z Millennials Gen X Baby Boomers
Prefer branded goods to Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 1,000)
non-branded alternatives
24% of consumers prefer to use a brand or company social media account or website to
find out information on that brand or product. This includes 24% of Gen Z and 30% of
Like to be actively engaged Millennials.
with brands
50% of respondents, including 53% Millennials, said they extensively research the products
and services they consume. Of those that said this, 64% will only buy from companies and
0%20% 40% 60% 80% brands they trust completely.
Colombia Global When considering purchasing products or services, 28% of respondents said they make
Survey, fielded January – February 2024 (n = 1,000) their purchasing decisions based on a brand or company’s social and political beliefs.
12
Gen Z most optimistic generation in Colombia

Future outlook by generation
Gen Z Millennials
Generation Baby
72% 67%
X Boomers
of overall respondents, including
of consumers in Colombia expect to
73% Millennials, expected to be
be better off financially in the future.
I will be happier
76% 73% 70% 64%
happier in the future than they are
than I am now This included 67% of Millennials.
now.
Among this cohort, 39% said they
I will be better off Among these respondents, 49% also
72% 68% 65% 58% place earning a high salary among
financially said that they will have more free
their top three work-related
time in the future. This includes
priorities.
I will have more 59% of Gen Z.
free time for 49% 60% 65% 68%
myself
I will work less than

21% 30% 38% 56%
37% 36%
I do now
of consumers, including 53% of Gen Z, of respondents believe that the
expect to work more in the future world will be a more dangerous place
My life will be than they do now. in future.
68% 65% 59% 58%
better
Among this group, 40% feel that more 74% are worried about climate
More activities will of their everyday activities will shift to change, while 37% think there will be
29% 28% 27% 19%
shift online be in-person, while 18% believe they more political unrest in their country
will have less free time. in future.
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January –
February 2024 (n = 1,000)
Personal traits and values survey highlights
Gen Z Gen X
▪ Give back to those in need (58%) ▪ Want products and services that are uniquely
▪ Opt for branded goods (29%) tailored to them (41%)
▪ Prioritise time with parents (54%) ▪ Value real world experiences (84%)
▪ Have less free time (22%) ▪ Extensively research products and services they
▪ Feel under constant pressure to get things done consume (52%)
(32%) ▪ Prioritise time for themselves (54%) and with their
▪ Say climate change will impact their life more than children (60%)
it does now (43%) ▪ Reduce meat consumption (32%), use less water
▪ Reduce their carbon emissions by driving less or (64%)
taking public transport (21%)
Millennials Baby Boomers

▪ Are willing to spend money to save time (46%) and ▪ Prefer living in the real world to participating in
search for ways to simplify their lives (68%) virtual online experiences (69%)
▪ Like to try new products and services (71%) ▪ Prioritise time for their partner or spouse (50%),
▪ Make my purchasing decisions based on brands/ spending time with extended family (23%), and
companies’ social and political beliefs (35%) giving their time volunteering (4%)
▪ Prioritise time for their favourite activities (25%) ▪ Expect they will have more free time in the future
▪ Try to offset their carbon emissions (27%) (68%) and that more of their everyday activities
will shift to online platforms (19%)
▪ recycle items (66%), while (68%) use sustainable
packaging
HOME LIFE AND LEISURE TIME 15
15

The home as a hub continues to hold appeal, as consumers spend a
lot of time in their homes. Watching television programmes or films
(cited by 80%), entertaining friends and family who do not live with
them (39%) and playing video games are all enjoyed in the comfort
of the home. Feeling safe and secure in your home also remains
important for all generations, with 51% of Gen Z and 68% of Gen X
indicating they want to a home in a safe location.
Beyond enjoying at-home leisure activities, many consumers are
now also shifting activities traditionally considered “away from the
home” into their living spaces, such as working from home (37%),
online or virtual fitness classes (17%), and shopping online (20%).
Reflecting the need to comfortably accommodate these domestic
activities, 27% said having multifunctional space is an important
home feature.
Consumers are increasingly appreciating the convenience and
efficiency that smart home technology brings to their homes. 30%
said they already own smart home appliances, while 21%, including
21% of Gen Z, said they consider smart home functionality an
important home feature, and 17% said they own an in-home virtual
assistant device.
16
Cleaning and chores top household activities for all generations

Home activities by generation
% of respondents (at least weekly) Additional insights on selected home-based activities
Of the 80% of respondents who said they watch TV shows or
movies at home at least weekly, 70% indicated they
subscribed to online streaming services (Netflix, Disney+, Hulu,
etc), while 79% lived with a partner or spouse and 53% lived
alone.
Exercise is an especially popular home activity (58% females

versus 69% males exercise at home at least weekly). Gen X are
overall more likely to exercise at home compared to other
generations.
Of the 44% of respondents who said that they engage in their

interests and hobbies (eg gardening, knitting, crafts, etc) every
week, 35% said they would prefer to live in a home with
outside space.
▪ Study knitting, crafts, etc) ▪ Shop online

▪ Connect with friends or ▪ Entertain friends and family ▪ Cleaning and domestic Of the 50% of respondents who said that they work from
family virtually on the phone, who do not live with me chores home and 56% of respondents who said that they study at
Skype, WhatsApp, etc ▪ Exercise ▪ Take an online or virtual home (at least weekly), 31% also said that they would look for
▪ Hobbies (eg gardening, ▪ Play video games fitness class a multifunctional work-live space in their ideal home.
17
Millennials are the most active generation on social media

Frequency of leisure activities Leisure time spent online
% of respondents % of respondents (at least weekly)
Socialise with friends in 90%
person 80%
70%
Go shopping for leisure 60%
50%
Take a class or attend a
40%
lecture
30%
Go to a sporting event 20%
10%
0%
Take a day trip Visit or update Socialise with Take part in Take a virtual Engage with Visit an online Attend virtual
social friends online online video class/attend a metaverse dating or events/concerts
Go to the cinema networking sites gaming lecture online platforms matchmaking
website or app
Volunteer
Go to a concert or to the
theatre
Go to a museum or art
gallery
0% 20% 40% 60% 80% 100% 62% of respondents said that they socialise with 74% of respondents said they visit or update their
At least weekly 1-3 times a month friends in person at least weekly, 21% also said social networking sites every week. This included
Once every few months Rarely they intended to increase their spending on trips 70% of Gen Z. 37% of this cohort also said they
Never
to the cinema, concerts or the theatre, and 21% share their data online in order to receive
Source: Euromonitor Voice of the Consumer: Lifestyles their spending on novel experiences. personalised or targeted offers or deals.
Survey, fielded January – February 2024 (n = 1,000)
18
Gen X seek homes with multifunctional space

Most desirable home features by generation
% of respondents Additional insights on ideal home features
Outside Space
35% of respondents who live with children aged 0-17
On-site Fitness said outside space is among their ideal home features.
Multifunctional Space
Of the 24% consumers who prioritise energy-efficient
homes, 51% also said they were trying to reduce their
Smart Home Functionality
energy consumption by using energy-efficient products.
Garage/Indoor Parking
Among the 11% of consumers who said they prefer their
Energy Efficiency homes to have a minimalist design, 69% also said they
regularly study at home.
Minimalistic Design
Among those who desired multifunctional space, 27%
were household members living with a partner or
Sustainable Materials
spouse, while 28% lived with children or grandchildren
under the age of five years.
Outdoor/Street Parking
Of consumers who value smart home functionality, 17%
Shared Living Space also said they remotely monitor or control home
0% 20% 40%
appliances every day, and 13% said they feel
Generation Z Millennials Generation X Baby Boomers comfortable sharing their personal data with private
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 companies.
(n = 1,000)
19
Baby boomers most inclined to seek homes in a safe location

Ideal home location and access to services by generation
% of respondents Additional insights on home preferences
Safe location 13% of consumers want to live in areas with clean
air. 18% of these consumers prefer to buy products
and services produced by purpose-driven
Access to green spaces brands/companies (those with sustainability
commitments that go beyond economic profit).
Proximity to public transport Among the 42% of respondents who said that
proximity to public transport is among their top
priorities when thinking about an ideal home, 46%
Urban or inner city location of these consumers also said that they are trying to
reduce carbon emissions by driving less or taking
public transportation.
Rural location
9% of respondents who said that suburban location
is among their top priorities when thinking about an
Location with limited air pollution
ideal home, while 7% also said that they expect to
work from home in the future.
Suburban location
0% 10% 20% 30% 40% 50% 60% 70% 80%
Access to green space was considered important to
the 51% who said they regularly walk or hike for
Generation Z Millennials Generation X Baby Boomers exercise, and the 42% who run or jog or exercise.
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024
(n = 1,000)
20
Colombian consumers seek to unwind and relax when travelling

Most important travel features
% of respondents
35%
30%
25%
20%
15%
10%
5%
0%
Relaxation All-inclusive Value for money Safe destination Nature and Able to book Immersion in Family-oriented Travel deal or Quality of food
hotels and outdoor holiday package local culture or child-friendly offer or dining at
resorts activities destination
Colombia Global
Number of domestic and international leisure trips in the previous 12

months
% of respondents
Millennials Gen Z
Did not take this type of trip Are interested in Are interested in city breaks.
being immersed in local culture. While partner or spouse is the
1-3 trips 34% of respondents who said that most popular travel companion
they took an international leisure overall, travel with friends holds
4+ trips trip in the previous 12 months also the most appeal for Baby boomers
0% 10% 20% 30% 40% 50% 60% 70% said they expect to increase their (22%), while Gen Z (7%) are more
Number of International personal trips Number of domestic personal trips
spending on travel in future. likely to travel alone than other
generations.
(n = 1,000)
Home life and leisure time survey highlights
Gen Z Gen X
▪ Socialise with friends in person at least weekly ▪ Say they travel with a partner/spouse (69%), and
(27%) (67%) said they travel with their children
▪ Take an online virtual fitness class at least ▪ Say their preferred travel destination feature is
weekly (17%) relaxation (30%), as well as arts and heritage
▪ Study at home at least weekly (70%) (7%)
▪ Cite minimalist design among their top three ▪ Say rural location is among their top three ideal
ideal home features (14%) home priorities (13%)
▪ Cite shopping among their top travel destination
features (7%)

▪ Watch TV shows or films (on TV, computer, ▪ Have a pet living at home (62%) and look for
smartphone, or other device) at least weekly holidays that offer nature and outdoor activities
(83%) (15%) and prefer destinations close to home
▪ Exercise (67% do so at least weekly) (4%)
▪ Go shopping for leisure at least monthly (55%) ▪ Engage in hobbies (54% engage in hobbies at
▪ Take a day trip at least monthly (32%) least weekly)
▪ Say that multifunctional space (work-life space) ▪ Say they typically travel alone (5%)
is among their top three ideal home features ▪ Cite safe location (72%) and energy efficiency
(24%) (28%) among their top three home priorities
EATING AND DIETARY HABITS 23
23

Unhealthy eating habits and consumers’ concerns about their
health are prompting them to manage their weight. 20% of
respondents said they are on a diet trying to lose weight, and 64%
said they look for healthy ingredients in food and beverages. 47% of
consumers closely read the nutrition labels on the products they
consume, with interest in healthy ingredients and health related
information increasing.
For a variety of reasons, including personal health, high prices and
sustainability, consumers continue to reduce the proportion of meat
in their diets. 27% said they are trying to reduce their meat
consumption, while 9% said they now eat meat (and fish) only
occasionally.
As inflationary pressure continues to result in rising food prices,
24% of respondents said they regularly seek private label and low-
cost products when they shop. 71% of consumers cook or bake at
home at least weekly rather than dine out. In addition, 26% said
they reheat/prepare ready meals to save time and effort.
Nevertheless, many are still tempted by the convenience of
ordering in: 30% said they regularly order food for home delivery,
while 25% are regularly ordering food for takeaway, or pick up
ready-made food to eat at home.
24
Colombian consumers always on the lookout for healthy ingredients in food and beverages
Relationship with food Of those who actively monitor what they eat in order to manage their weight:
100%
I actively monitor what I
eat in order to manage my 80%
weight 60%
40%
20%
0%
I keep track of the calories Look for healthy Are willing to pay Take vitamins/ Use an app to track Visit health-related
in the food that I eat ingredients in food more for healthy food supplements daily/ my health or fitness at medical sites at least
and beverages features almost daily least weekly weekly
Colombia Global
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 410)
I am on diet trying to lose
weight
41% of overall consumers actively 15% of overall consumers (compared
monitor what they eat to manage to 20% globally) seek to reduce their
their weight. 32% of these alcohol consumption. 7% of these
consumers also said they use an app consumers are 60+.
I am seeking to reduce my
alcohol consumption to track their health.
20% of overall consumers 23% of consumers (compared to 28%
(compared to 21% globally) said globally) keep track of the calories in
0% 10% 20% 30% 40% 50% 60% they are on a diet trying to lose the food that they eat. 74% of these
Baby Boomers Gen X Millennials Gen Z weight. 71% of those on a weight- consumers closely read the nutrition
loss diet also engage in physical labels on foods they consume.
Survey, fielded January – February 2024 (n = 1,000) exercise at least weekly.
25
Millennials find cooking time-consuming

Barriers to cooking by generation Additional insights on cooking habits
% of respondents (at least weekly)
Although a large proportion of consumers still prepare and eat

meals at home, 12% would rather spend their time doing things
other than cooking. This includes 12% of Gen Z and 13% of
Millennials. Additionally, 6% of Gen Z and 7% of Millennials said
they typically replace meals with snacks.
30% of Gen Z, 34% of Gen X and 40% of Baby Boomers said they
do not cook for themselves, as they have someone else in their
household who cooks for them.
Lack of cooking skills is another major obstacle to cooking at

home, as 21% of Gen Z and 9% of Baby Boomers said they do not
cook very well. 17% of males cited it as a major obstacle to
cooking, compared to 15% of females.
▪ I do not cook very well ▪ I prefer to order food for delivery
▪ Eating at a restaurant is more convenient ▪ I do not have time to cook In many instances, accommodating busy lifestyles influences
▪ I do not like to cook ▪ Food from restaurants tastes better consumers’ dining choices: 11% (compared to 15% globally) said
▪ I do not have time to shop for groceries ▪Someone else in my household typically going out to eat at a restaurant is more convenient, 10% prefer
▪ Ordering food for delivery is more cooks for me
to order food for delivery, as 7% said they do not have time to
convenient
shop for groceries.
26
Colombians prepare their own meals almost daily, if not weekly

Eating and snacking habits Food preparation habits
% of respondents (at least weekly) % of respondents (at least weekly)
Cook or bake
I typically eat snacks at home Reheat or prepare a ready meal
Eat at a restaurant
I typically eat snacks while Order food for takeaway or pick up ready-made food
watching TV/streaming to eat at home
Order food for home delivery
I look for snacks that are
convenient to take and eat outside 0% 20% 40% 60% 80% 100%
the home At least once a day Weekly 1-2 times a month Less than once a month Never
I often snack during the day in
between meals For convenience and time saving, 6% of consumers said they sometimes replace
typical meals with snacks. 48% of respondents also said they typically snack while at
I typically eat snacks when I am on- work, and 34% look for snacks that are convenient to take with them when they leave
the-go (eg, on my commute to
home.
work, while out shopping, etc.) As patterns of life continue to change, 29% of respondents said they vary their
mealtimes according to their schedules. This includes 28% of Millennials and 38% of
I typically eat snacks while I am at Gen Z. Among those who vary their mealtimes, 40% said they often snack during the
work day in between meals.
0% 20% 40% 60%
Accommodating busy lifestyles influences consumers’ dining choices: 11% of
Gen Z Millennials Gen X Baby Boomers Colombians said going out to eat at a restaurant is more convenient than cooking for
themselves. In addition, 21% of overall respondents said they intended to increase
fielded January – February 2024 (n = 1,000) their visits to restaurants over the next 12 months.
27
Baby boomers more inclined to avoid fish and meat, but not identify as vegetarian
Dietary choices and restrictions Dietary features and preferences by generation
I am allergic or
intolerant to certain I look for healthy ingredients in food and beverages
foods
I closely read the nutrition labels of food and

beverages
I do not typically eat
meat or fish
I am reducing my meat consumption
0% 20% 40% 60% 80%
I am a vegetarian Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 703)
13% of overall respondents said they Consumers are more focused on improving
are allergic or intolerant to certain their diets: 33% of respondents said they
foods. Being aware of ingredients, would pay more for food with additional
54% of respondents said health and health and nutritional benefits.
I am diabetic nutritional properties in foods and
beverages are influential product
features.
I am a vegan Colombians are increasingly Consumers are questioning the carbon

0% 5% 10% 15% exploring plant-based foods, and in footprint generated by the food and
our survey, 16% of respondents, said beverages they consume. 16% of
Millennials Gen X Baby Boomers Gen Z they prefer to buy food that is respondents said they prefer to buy food that
Source: Euromonitor Voice of the Consumer: Lifestyles environmentally conscious or eco- is locally sourced or manufactured.
Survey, fielded January – February 2024 (n = 1,000) friendly.
28
Colombians are willing to pay more for products with health and nutritional benefits
Willingness to pay more for food features by generation Among overall respondents:
% of respondents
Health and nutritional 88% also look for healthy Ingredients in foods and beverages
properties (e.g. omega-3)
Superior taste 13% also tend to choose travel destinations where food is of
superior quality
Strong or well-known brand

47% prefer branded goods to non-branded alternatives
Supports local communities

57% also say that being active in the community is important
Free range
10% also choose travel destinations based on the quality of
food/dining
Ready to cook
47% are willing to spend money to save time

Premium or gourmet
Environmentally conscious 48% say they would rather buy fewer, but higher quality things
or eco-friendly 0% 10% 20% 30% 40% 50%
Gen Z Millennials Gen X Baby Boomers 52% also say buying eco-conscious products makes them feel
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 good
(n = 1,000)
Eating and dietary habits survey highlights
Gen Z Gen X
▪ Typically eat snacks at home (40%) ▪ Say they eat meals at the same time each day
▪ Say their typical mealtimes vary day to day, (59%), and that their typical mealtimes varied
depending on their schedule (38%) from day to day according to their schedule (26%)
▪ Typically eat snacks while watching TV/ streaming ▪ Cite living alone and not wanting to cook for
video content (38%) themselves as a barrier to cooking (6%)
▪ Say someone else in their household typically ▪ Say that “health and nutritional properties” is an
cooks for them (30%) influential food and beverage product feature
▪ Regularly reheat or prepare a ready meal (28%) (45%), and pay more for fair trade food and
beverages (20%)

▪ Look for healthy ingredients in food and ▪ Say they eat meals at the same time each day
beverages (65%) (56%), and that they typically snack at home
▪ Closely read nutrition labels of food and (56%)
beverages (47%) ▪ Cite living alone and not wanting to cook for
▪ Snack during the day in between meals (39%) themselves as a barrier to cooking (6%)
▪ Order food for takeaway or pick up ready-made ▪ Say they are diabetic (8%)
food to eat at home (37%)
▪ Eat at a restaurant (42%)
Working life
WORKING LIFE 31
31
Working life
Reflecting the continued adoption of hybrid working policies,
consumers have new employment expectations. Working from
home in future is important for 49% of respondents, especially
among older cohorts, as 57% of Gen X indicated. 41% also said they
expect to be able to have flexible start/finish times in future.
Today’s workers are more focused on finding time for activities
away from work that satisfy their personal and/or family goals, with
46% saying it is important to have a job that allows for a strong
work-life balance.
Concerns around economic uncertainty and volatile job markets
compel many workers to continue to strive to achieve a range of
more traditional career objectives: 45% said it is a priority to have
job security, while 39% said it is important to earn a high salary,
including 45% for Gen Z
Entrepreneurship and independence remain important. 41% said
they expect to start their own company in future, and 40% said they
expect to be self-employed. Others value the self-sufficiency
provided by non-traditional employment: 19% said they expect to
work on a contract or freelance basis in future, with 14% expecting
to have more than one job.
WORKING LIFE 32
32
Baby boomers seek challenging work that offers a sense of responsibility

Work priorities by generation
% of total respondents
Of overall respondents who ranked prioritising health
and safety at work among their top three priorities:
80% take health and safety precautions when they leave home.
21% donate to non-profits and charities supporting the
environment.
74% feel they can make a difference to the world through their
choices and actions.
Of those who cite having responsibility and challenging work among

their top three priorities:
46% prefer to take charge and lead others.
18% feel under constant pressure to get things done.
16% expect to have more than one job.
Among those who place working for themselves among their top
▪ To receive workplace benefits such as free food or time or space to play video games three priorities:
▪ To work for a company that takes ethical and social responsibilities seriously 17% want to work where they feel comfortable expressing their
▪ To have responsibility and challenging work identity.
▪ To work for a company that prioritises employee health and safety 17% are actively involved in political and social issues.
▪ To work with people like me 51% said being active in a community is important for them.
▪ Feel comfortable expressing their identity
(n = 997)
WORKING LIFE 33
33
Consumers in Colombia want a job that allows for a strong work-life balance
Desire for flexible working conditions Work priorities
% of respondents % of respondents by parent status
To have a job that allows for a strong work or life
balance
To have a job that allows for a
strong work or life balance To be able to work from home
To set my own work hours
To be able to work from home To work close to home
To work for myself

0% 20% 40% 60%
To set my own work hours
Non-parent or parent of grown children Parent with children ages 0-17 in home
Younger generations are more Working close to home is a priority

To work close to home focused on fitting their working lives for consumers seeking to improve
around their lifestyles, with 15% of their work-life balance, with 25%
Gen Z saying they want to set their ranking this in their top three.
own working times. Working close to home is most
To work for myself prioritised by Gen X (32%) and
Millennials (25%).
0% 20% 40% 60% Work-life balance is a high priority: Among respondents who prioritise
53% said they have a strict boundary working from home, 66% report
Colombia Global
between their work and personal life. working from home at least once a
fielded January – February 2024 (n = 997) week.
WORKING LIFE 34
34
Gen X prioritise job security above all else

Work priorities by generation
% of total respondents Additional priorities and expectations among overall
To earn a high salary respondents:
Only 19% expect to work on a contract or freelance basis.

To have a job security
67% expect to be better off financially in the future.

To receive good training
To have the opportunity to work or travel 53% said they have strict work-life boundaries.
abroad
To work for an innovative company 21% would like to have responsibility and challenging work.
31% said it is important that other people think they are doing
To work for a good manager
well.
To work for a successful company 30% expect to work abroad in future.
To be promoted quickly 71% also use technology to improve their day-to-day life.
0% 10% 20% 30% 40% 50% 60%
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 44% prefer to take charge and lead others.
(n = 997)
WORKING LIFE 35
35
Colombians expecting to be able to work from home

Expectations of future work life Expectations of future work life by generation
% of total respondents % of total respondents
Work from home 80%
Have flexible start and finish 60%
times
40%
Start my own company
20%
Be self-employed
0%
Work abroad in a different Have flexible start Start my own Work from home Be self-employed Work part-time
country and finish times company
Study or train to advance in my
current career Generation Z Millennials Generation X Baby Boomers
Work past the typical retirement Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 950)
age
Work on contract or freelance 52% of female respondents expect Of those who expect to retire before
Retire before the typical to work from home in the future, the typical retirement age, 12% also
retirement age
Study or train for a different compared to 45% of males. 41% of said they will quit the labour market
career females also look forward to having to care for dependents.
Work part-time flexible start and finish times.
Have more than one job at the
same time
54% of Baby Boomers expect to Among respondents who said they
Change industries work past the typical retirement expect to work in a different
Leave the workforce to stay home age, 20% said they expect to work industry in future, 26% said they will
and care for dependents
part-time, and 26% said they expect study or train for a different career,
0% 10% 20% 30% 40% 50% 60% to work on a contract or freelance 44% expect to start their own
Colombia Global basis. company, and 40% expect to be self-
fielded January – February 2024 (n = 950) employed.
WORKING LIFE 36
Working life survey highlights
Gen Z Gen X
▪ Say they want to work with people like them (10%) ▪ Prioritise a job that allows for a strong work-life
▪ Expect to earn a high salary (45%) balance (55%), and provides job security (51%)
▪ Expect to have more than one job at the same ▪ Want to work for a company that prioritises
time in the future (14%) employee health and safety (28%)
▪ Prioritise having the opportunity to work or travel ▪ Want to work for a good manager (7%)
abroad (23%) ▪ Expect to work from home in the future (57%)
▪ Say they expect to receive good training (25%)

▪ Expect to have flexible start and finish times in the ▪ Expect to work past the typical retirement age
future (39%) (54%)
▪ Say they have a strict boundary between their ▪ Expect to work part-time in future (20%)
work (or school) and personal life (57%) ▪ Want a job in future where they can work close to
▪ Say they prefer to be in charge of and lead others home (19%)
(49%) ▪ 40% want to have job security
▪ Say they want to work for a company that takes
ethical and social responsibilities seriously (22%)
Health and wellness
HEALTH AND WELLNESS 38
38
Health and wellness

Health and wellness continues to gain traction among consumers,
as concerns around mental health and physical fitness grow in
importance. 63% of respondents said they participated regularly in
physical exercise, and 37% said they regularly take supplements or
vitamins. Colombians are placing more emphasis on regular
exercise, together with the adoption of activities to improve mental
health.
Tech-based solutions are helping consumers to better monitor their
health and fitness. Technology such as fitness wearables, smart
watches and other health-monitoring devices is rapidly being
adopted, and the share of respondents indicating they own a fitness
wearable/health tracking device has reached 20%. Similarly, 25%
said they regularly visit health-related or medical websites.
Managing diets, information about products’ ingredients and sober
conscious lifestyles are all increasing in importance. 41% of
consumers said they are monitoring what they eat to manage their
weight, while 15% said they are reducing their alcohol consumption.
In addition, 42% indicated they seek out foods that have additional
health and nutritional properties, with 78% of these consumers
saying they would be willing to pay more for these features.
39
Colombians prefer to engage in less strenuous training, like walking or hiking

Frequency of exercise routines Frequency of health-related habits
% of total respondents % of total respondents
Walk or hike for exercise Exercise
Vitamin/health supplement frequency

Run or jog
Participation in stress-reduction activities
Cycle or ride a bike
0% 20% 40% 60% 80% 100%
Weight lifting/strength training Almost every day 1-2 times a week 1-2 times a month Less than once a month Never
Practice yoga/tai chi
Post-pandemic, home exercise Walking or hiking for exercise
continues to be popular, with 63% of remains the most prevalent form of
Take a group fitness class respondents saying they still physical activity, with 50% of
regularly exercise at home, including respondents saying they walk or
Participate in other intensive physical 17% who take an online fitness class hike at least weekly. Of those who
activities
at least weekly. An on-site fitness walk or hike for exercise daily, or
Participate in team sports (eg facility is considered a desirable almost every day, 16% also opt for a
football) home feature by 23% of Millennials travel destination based on the
Participate in other individual sports
and 29% of Gen Z respondents. availability of nature and outdoor
(eg, tennis, boxing, rowing, skiing) activities.
37% of respondents take vitamins 40% of Colombians regularly run or
0% 50% 100% and/or supplements at least weekly, jog for exercise. This includes 44% of
Almost every day 1-2 times a week compared to 52% globally. Baby males and 36% of females. Gen X
1-2 times a month Less than once a month boomers, especially among women are the most likely to use a fitness
Never Baby boomers, are more likely to tracking device when they run.
take vitamins or supplements
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded
January – February 2024 (n = 775) regularly than other cohorts.
40
Meditation is the most popular stress-reduction measure in Colombia

Mental wellbeing and stress-reduction activities over the previous six
months Additional insights from health and wellbeing attitudes and
% of total respondents behaviours
65% of Colombians said they are trying to find ways to simplify
their lives, while 28% said that using the internet adds a great
deal to their daily stress levels. Of those who have participated
in stress-reduction activities over the previous six months, 70%
said they feel they will be healthier in future than they are
now.
Of the 31% of respondents who said they have practised yoga

over the previous six months to reduce stress, 75% agreed or
strongly agreed that spiritual beliefs were an important part of
their lives.
43% of respondents stated that they use herbal remedies to

cope with stress. Among those who use herbal remedies, 32%
said they are influenced to buy foods that are 100% organic,
and 45% by foods that are all natural.
▪ Meditation ▪ Sleep aids

▪ Massage ▪ Spa visit Consumers are becoming more aware of the benefits of being
▪ Yoga ▪ Participate in physical activity physically active. 63% of respondents said they engage in
▪ Herbal remedies (eg lavender, camomile ▪ Therapy or counselling physical activities at least weekly. 61% of respondents said
tea)
they felt they would be healthier in future than they are now.
41
Health properties are the most influential product feature for Colombian consumers
Influential product features for healthy food and drinks
% of total respondents
Health and nutritional properties

45%
trust labels that describe products
59%
as having “No artificial trust labels that say “All natural”
ingredients”
All natural
Free range
100% organic 53% 55%

trust labels that say “100%
trust labels that say “Free range”
organic”
0% 10% 20% 30% 40% 50%
Willing to pay more for this feature Influential product feature
(n = 1,000)
42
Millennials use apps to track health or fitness more often than others
Use of technology to support health
% of respondents Additional insights on tech-based health attitudes
An increasing number of consumers are turning to

Use an app to track my health or fitness at tech-based solutions to help them monitor and
least weekly improve their physical wellbeing. 71% of overall
respondents said they use technology to improve their
day-to-day life.
Visit health-related or medical sites at least

Increased health-consciousness post-pandemic is
weekly leading 77% of respondents to take health and safety
precautions when they leave their homes.
26% of Colombians (compared to 35% globally)

regularly use an app to track their health and fitness.
Fitness wearables/health tracking device
Among this group, 49% said they share their data to
ownership
receive personalised and targeted offers/deals.
0% 10% 20% 30% 40% 63% of respondents said they engage regularly in
physical exercise. Of these respondents, 22% expect to
Baby Boomers Gen X Millennials Gen Z
increase their spending on new technology in future.
(n = 109)
Health and wellness survey highlights
Gen Z Gen X
▪ Have used sleep aids (27%) and therapy and ▪ Feel that a product label claim of “natural” means
counselling to help reduce stress (23%) chemical-free (67%)
▪ Participate in intensive physical activities (29%), as ▪ Regularly cycle or ride a bike (35%)
well as team (33%) and individual sports (17%) ▪ Take health supplements/vitamins every week
▪ Trust in labels that describe products as vegan (42%)
(39%) ▪ Say they are willing to pay more for free range
▪ Look for healthy ingredients in the foods they eat products (13%), and “all natural” products (32%)
(54%)

▪ Regularly participate in intense physical activities ▪ Regularly walk or hike for exercise (64%)
(31%) ▪ Actively monitor what they eat to control their
▪ Are cutting back on consumption of meat (25%) weight (48%)
▪ Participate in stress-reduction activities at least ▪ Say that non-GMO is an influential food feature
weekly (25%) (17%)
▪ Use meditation to reduce stress (55%), use herbal ▪ Say that they define organic products as chemical-
remedies (46%) or practise yoga (34%) free (68%), respecting animal welfare (50%) and
not containing artificial additives (56%)
SHOPPING AND SPENDING 45
45

When managing household budgets, value remains at the forefront
in influencing consumers’ purchasing habits. Value is found in
different ways. 26% of respondents said they intend to increase
their visits to discount stores in future, while 15% said they intend
to buy more second-hand or previously-owned products. Seeking
further savings, 24% said they already regularly seek private label
and low-cost products.
While affordability is particularly important to consumers,
additional factors are also considered before making a purchase. For
example, product quality remains a concern, with 37% of
respondents saying they would rather buy fewer, but higher quality
things. Brand loyalty also remain relevant, as 42% said they
regularly seek strong/well-known brands.
The daily trip to the grocery store is seeing growing competition
from the convenience of shopping online. 46% of consumers prefer
to see or try a product before buying it, while immediate purchase
is a motivation for 32% of consumers who prefer in-store shopping.
Of those respondents who favour online shopping, 35% are driven
by best price, while 30% value free shipping. Ease and availability of
delivery remains a major consideration for 30% of respondents.
46
Consumers in Colombia enjoy searching for and discovering the best deals
Shopping preferences Future spending habits by generation
35%
I like to find bargains 30%
25%
20%
15%
I try to lead a minimalist lifestyle and 10%
do not buy new items unless 5%
necessary 0%
Increase visits to discount stores Increase purchase of second-hand Increase purchase of private
or previously owned products label/store brand goods
I regularly seek private label and Generation Z Millennials Generation X Baby Boomers
low-cost products Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 708)
I tend to buy more items or shop

Pressured by rising prices for food, energy, fuel and other products, consumers are
more often at stores or websites
where I have a loyalty looking for ways to better manage their household spending, with cost-cutting a key
card/membership or a store credit priority. 55% of respondents, including 62% of Baby Boomers, said they like to find
card bargains.
I avoid going shopping whenever

31% of Colombian consumers, including 40% of Baby Boomers, said they try to
possible lead minimalist lifestyles and do not buy new items unless necessary. Of those who
said they do this, 35% disagreed with the statement “I am financially secure”.
0% 10% 20% 30% 40% 50% 60% 76% of Colombian consumers said they feel that the cost of everyday items they buy
Colombia Global is going up. Of those who agreed with this statement, 17% said they buy more items
or shop more often at stores or websites where they have a loyalty card/
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, membership or a store credit card.
fielded January – February 2024 (n = 1,000)
47
Older generations more inclined to window-shop instead of spending money

Shopping attitudes by generation
% of respondents Additional insights into shopping attitudes among
overall respondents
Like to visit shopping malls
58% go shopping for leisure at least monthly.

Like to browse in stores even if they do not
need to buy anything
55% say that 'seeing or trying' before purchasing is the
reason they prefer to buy in store.
Would rather buy fewer, but higher quality
things
50% say they are willing to pay more for high quality
apparel and footwear and 47% for high quality home care
Regularly buy themselves small treats - products.
products or services – as they feel they
deserve them
17% say the often make impulse purchases.

Regularly seek strong or well-known brands
28% say they typically rely on brand or social media

Don't mind buying items that will not last for accounts when they are deciding what to buy.
a long time if they are inexpensive
0% 20% 40% 60% 80%
Generation Z Millennials Generation X Baby Boomers 58% say they look for good value when buying clothing and
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 footwear.
(n = 1,000)
48
Gen Z and Gen X buy more gifts for their friends and family than other generations do
Shopping habits and preferences
% of respondents Of overall respondents who have these shopping
habits and preferences:
Regularly buy gifts for my family and/or
friends
28% said they enjoy spending their money, rather than save it.
Look for personalised and tailored

shopping experiences
57% said they want products and services that are uniquely
tailored to them.
Seek products with easy to understand
labels
39% say that getting advice from sales people is one of the
main reasons they shop in store.
Pick their travel destinations based on the
quality of shopping there
31% expect to increase their spending on travel or vacations

over the next 12 months.
Seek niche brands that are hard-to-find or
unique
0% 20% 40% 60%
28% say that innovative shopping experiences is one of the
Generation Z Millennials Generation X Baby Boomers
main reasons they shop in store.
(n = 1,000)
49
Baby boomers make a greater effort to shop in locally-owned stores

Conscious shopping attitudes and behaviours by generation
% of respondents Additional insights from shopping habits
Buying “pre-loved” items is a top conscious shopping

preference. 23% of conscious shoppers also said they prefer to
buy products and services from purpose-driven brands and
companies.
26% of consumers said they try to shop in locally-owned stores,

while 56% said that being active in the community is important
to them.
22% of consumers, including 20% of Millennials, said they like to

repair their items instead of buying new ones. 23% of these
consumers also said that they donate to charities and non-
profits that support the environment.
▪ Buying eco-conscious/ethically-conscious products makes me feel good
▪ I am willing to buy second-hand or previously-owned items
▪ I am willing to rent items for specific occasions or a set time period instead of buying them 29% of respondents, including 37% of Baby Boomers, said they
▪ I like to repair my items instead of purchasing new ones try to purchase locally-sourced products and services. 50% of
▪ I try to purchase locally-sourced products and services these consumers also said they prefer to buy from brands that
▪ I try to shop in locally-owned stores support social and political issues that are aligned with their
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 values.
(n = 1,000)
50
Colombians often share/swap items or services

Frequency of circular buying and selling habits Ethical shopping habits by generation
Share/swap items or Buy sustainably-produced items

services
Buy products and services from purpose-driven
brands/companies
Donate used items to a
Buy second-hand/previously-owned products
charity or non-profit
0% 10% 20% 30% 40% 50% 60%
Rent items, rather than buy Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 703)
51% of respondents, including 49% 21% of consumers tend to buy products

of Gen X and 51% of Millennials, or services from purpose- driven
Sell used or second-hand donate used items to a charity or brands/companies. Among this group,
items non-profit at least once on an 79% feel that they make a difference to
annual basis. the world through their choices and
actions.
Buy used or second-hand
items Consumers in Colombia buy used Of those who said they buy sustainably
or second-hand items at a lower produced goods, 23% are willing to pay
0% 20% 40% 60% 80% 100% rate than the global average, with more for environmentally/ethically
At least weekly 1-3 times a month 8% buying pre-loved items at least conscious home care products, 25% for
Once every few months 1-2 times a year monthly, compared to 18% apparel and footwear, and 16% for
Rarely Never
globally. environmentally conscious or eco-
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, friendly food.
fielded January – February 2024 (n = 1,000)
51
Gen X often seek customer service through social media platforms

Shopping attitudes by generation
% of respondents Additional insights from shopping attitudes
“Follow” or “like” a company’s social media feed or post
Among the 34% of respondents who said they

Write a review for a product or service at least monthly like to be actively engaged with brands,
Baby boomers% of 84 report wanting to engage
with brands to influence product innovation.
Buy something via a social media platform
Receive a thank you discount or offer for referring someone 25% of overall respondents said they provide
via social media to do business with the company feedback on a product or service via a social
media post. Among those who provide
Talk to a company’s customer service representative feedback, 51% write an online review for a
through a social media platform product or service (at least monthly).
Provide feedback on a product or service to a company via a
social media post
29% of consumers like to talk to a company
through their social media platform. Among
Share a purchase you made with your social network
those who do this, 55% said they extensively
research products and services before they buy.
Share or retweet a product
31% of consumers, including 28% of Gen Z and

Share or retweet a company’s social media feed or post 35% of Millennials, said they recently bought
0% 20% 40% 60% something via a social media platform. Among
those who did this, 27% also said they share
Generation Z Millennials Generation X Baby Boomers their purchases with their social networks.
52
Consumers primarily trust friends and family recommendations

Use of tech to enhance or simplify the shopping Trust in information sources
experience (at least weekly) % of respondents
% of respondents 80%
Use a price comparison 70%
website 60%
50%
40%
30%
20%
Read consumer reviews 10%
online 0%
Friends and family Recommendations Independant Product label and Brand/Company Generative AI
recommendations from my children consumer reviews other information social media
on packaging or accounts
website
Colombia Global
Buy an item online Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January – February 2024 (n = 863)
Use AR or VR to enhance a
shopping experience Of those who said they buy something online at Family and friends remain trusted sources of
0% 20% 40% 60% least weekly, 32% said that the reason they shop information, as 76% of respondents indicated.
Gen Z Millennials Gen X Baby Boomers online is to get the best price, while 31% said it is Trust in Generative AI is growing, with 36% of
for the offer of free delivery. consumers selecting this as being a trusted
fielded January – February 2024 (n = 1,000) information source.
53
Colombians foresee decreased spending on novelty experiences the most

Future spending intentions Intentions to increase savings and spending by generation
Travel or Holidays Putting more money aside into savings
Education
Health and Wellness

Overall spending
0% 10% 20% 30% 40% 50% 60% 70%
New technology
Clothing and footwear
Novelty experiences 57% of consumers, including 60% of 31% of respondents, including 39% of
Gen Z, expected to increase their Gen Z, expected to increase their
Housing or accomodation savings over the next 12 months while spending on education over the next 12
only 61% expected to decrease their months.
Medical costs spending on overall purchases of Among these consumers, 43% said they
products and services over the same expect to study or train to advance their
Groceries period. current career.
32% of consumers (34% of Gen Z) Consumers continue to spend more on
Transportation
intended to increase their spending on essential items. 15% of respondents
travel/holiday over the next 12 expected to increase spending on
0% 50% 100%
months. Many prefer experiences over groceries and 18% expected to increase
Increase Stay the same Decrease
buying expensive things. spending on housing or accommodation.
fielded January – February 2024 (n = 802)
54
Gen Z depend on monetary assistance provided by loved ones or acquaintances

Consumer finance
% of respondents
I am able to regularly save a portion of my income
Among consumers who said Of consumers who said they

I am concerned about my current financial
they are concerned about their are comfortable with their
situation
financial situation, 47% said current financial
they extensively research the circumstances, 88% also
I am comfortable with my current financial
situation products they consume, and reported buying used or
56% said they look for low second-hand items over the
prices when buying food. previous 12 months.
I rely on financial support from friends or family
I have enough money readily available to cover an

unexpected emergency
I have more debt than savings (excluding home

mortgage/repayments)
Consumers are looking for Even though 76% of
I sometimes rely on credit cards, account alternative ways to invest, with consumers are concerned that
overdrafts, other consumer borrowing to cover
6% putting their money into prices of everyday items they
everyday expenses
collectibles (art, antiques, rare buy are going up, 40% are
items) and 6% into luxury willing to spend money to save
I rely on government financial support or subsidies
items. time.
0% 20% 40% 60%
Generation Z Millennials Generation X Baby Boomers
Source: Euromonitor Voice of the Consumer: Lifestyles Survey, fielded January –
February 2024 (n = 1,000)
Shopping and spending survey highlights
Gen Z Gen X
▪ Buy used or second-hand items (44%) ▪ Say that best price is an online shopping
motivator (37%), along with free
▪ Expect to be increasing their savings over the shipping (34%), immediate purchase
next 12 months (60%) (33%) and absence of the need to
▪ Like to find bargains (41%) interact with other shoppers at physical
stores (6%)
▪ Rent items, rather than buy (16%), and like to
browse stores even though they don't need ▪ Seek private label or low-cost products
to buy anything (36%) (25%)
▪ Have trust in advertisements from a ▪ Are willing to pay more for
company/brand (50%) environmentally/ethically conscious
household essentials (13%)
▪ Trust friends and family recommendations ▪ Seek value for money when buying
(77%), as well as independent consumer apparel and personal accessories (72%)
reviews (66%) ▪ Say seeing/trying before they buy is an in-
▪ Sell used second-hand items (39%), store shopping motivator (58%)
share/swap items or services (42%) ▪ Try to shop in locally-owned stores (32%)
▪ Look for personalised and tailored shopping ▪ Repair their items instead of purchasing
experiences (94%) new ones (28%)
CONSUMER LIFESTYLES IN COLOMBIA
For further insight please contact
Jacques Olivier Kristina Balčiauskaitė

Consumer Consultant Senior Economies and Consumers Research Manager
Jacques.Olivier@euromonitor.com Kristina.Balčiauskaite@euromonitor.com
• linkedin.com/in/jacques-olivier-64b328107/ • linkedin.com/in/balciauskaite
Jana Rudė Aistė Kriaučiūnaitė

Consumer Insight Manager Survey Consultant
Jana.Rude@euromonitor.com Aiste.Kriauciunaite@euromonitor.com
• linkedin.com/in/Jana-Rude/ • linkedin.com/in/aiste-kriauciunaite/
• @JanaRude
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Consumer_Lifestyles_in_Colombia

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Consumer Lifestyles in Colombia

preferences and motivations, and aligning

Explores consumers beyond their demographic profile and

Personal traits and values

Home life and leisure time

Eating and dietary habits

Health and wellness

Shopping and spending

Consumer landscape in Colombia 2024

Total Population Number of Households Rented 0% 10% 20% 30%

Personal traits and values

49% of consumers are dedicating time to their favourite

Like to be distinct from others Gen Z Millennials Gen X Baby Boomers

Colombians open to exploring new products and service offerings

Gen Z most optimistic generation in Colombia

I will work less than

Personal traits and values survey highlights

Millennials Baby Boomers

Home life and leisure time

Cleaning and chores top household activities for all generations

Exercise is an especially popular home activity (58% females

Of the 44% of respondents who said that they engage in their

▪ Study knitting, crafts, etc) ▪ Shop online

Millennials are the most active generation on social media

Gen X seek homes with multifunctional space

Baby boomers most inclined to seek homes in a safe location

Colombian consumers seek to unwind and relax when travelling

Number of domestic and international leisure trips in the previous 12

Home life and leisure time survey highlights

Millennials Baby Boomers

Eating and dietary habits

Millennials find cooking time-consuming

Although a large proportion of consumers still prepare and eat

Lack of cooking skills is another major obstacle to cooking at

Colombians prepare their own meals almost daily, if not weekly

I closely read the nutrition labels of food and

I am a vegan Colombians are increasingly Consumers are questioning the carbon

Strong or well-known brand

Supports local communities

47% are willing to spend money to save time

Eating and dietary habits survey highlights

Millennials Baby Boomers

Baby boomers seek challenging work that offers a sense of responsibility

Of those who cite having responsibility and challenging work among

To set my own work hours

To be able to work from home To work close to home

To work for myself

Younger generations are more Working close to home is a priority

Gen X prioritise job security above all else

Only 19% expect to work on a contract or freelance basis.

67% expect to be better off financially in the future.

To work for a successful company 30% expect to work abroad in future​.

Colombians expecting to be able to work from home

Working life survey highlights

Millennials Baby Boomers

Health and wellness

Colombians prefer to engage in less strenuous training, like walking or hiking

Vitamin/health supplement frequency

Meditation is the most popular stress-reduction measure in Colombia

Of the 31% of respondents who said they have practised yoga

43% of respondents stated that they use herbal remedies to

▪ Meditation ▪ Sleep aids

Health and nutritional properties

100% organic 53% 55%

To work for a successful company 30% expect to work abroad in future.