Ítalo Atencio, president of the National Association of Supermarkets and Self-Service Stores (ANSA) in Venezuela, indicated that the supermarket sector has shown positive growth since the beginning of 2016, reaching 10 %.

Atencio highlighted an increase in mass consumption in the country, with sales concentrated in “essential items such as basic foods, hygiene and cleaning products.”

According to the executive, “over the past 12 months, there has been a progressive migration of consumers from small grocery stores and bodegas to large supermarket chains,” citing as the main reasons for this shift “the stability of supply — with a 97 % supply index — and strict adherence to the official exchange rate of the Central Bank of Venezuela (BCV).”

On the other hand, Atencio clarified that despite this growth in volume, household spending in Venezuela remains geared towards a subsistence economy. The industry association pointed out that “between 60 % and 65 % of Venezuelans’ income is allocated exclusively to food and personal hygiene.”

M.Pino

Source: alnavio

(Reference image source: Gigi Visacri on Unsplash)

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