Amidst a tumultuous period, 2023 was a challenging year for hot drinks in Peru. The upheaval began with the ousting of President Castillo's government following a failed coup in December 2022.
Recent years have witnessed a surge in modern grocery retailers developing and marketing widely consumed foods and drinks under private label, including popular beverages like coffee. This prompted major supermarket and hypermarket chains such as Cencosud, Supermercados Peruanos, and Tottus to directly enter hot drinks, offering coffee and tea at lower prices than renowned brands like Nescafé, Altomayo, McColins, Milo, or Sol del Cuzco.
In the realm of coffee, one of the leading contenders, Cafetal (Exportadora Romex SA), has ventured into instant coffee, currently dominated by Nestlé with brands like Nescafé and Kirma, along with Verdum SAC and their Altomayo coffee. Romex's primary audience used to comprise traditional consumers seeking fresh, quality coffee at a more affordable price point.
In 2023, traditional grocery retailers emerged as the fastest-growing channel for consumers to purchase hot drinks. While the availability of a wider product range still render modern grocery retailers like supermarkets and hypermarkets relevant, it has become more common to purchase hot drinks at local small grocers.
With the relaxation of pandemic-related restrictions, the on-trade channel witnessed a rapid recovery, leading to the opening of numerous restaurants and cafés across major cities in the country, including Lima, Arequipa, Trujillo, and Cusco. The growing popularity of Peruvian cuisine has directly or indirectly benefitted other areas, with specialty cafés emerging as one of the fastest-growing channels.
In the midst of Peru's economic recession and heightened consumer spending consciousness, conditions are growing more complex, especially for players that do not focus on widely consumed products where margins tend to be slimmer. This is where the role of coffee brands and cafés becomes pivotal as they strive to develop their value propositions to offer consumers exceptional experiences and quality.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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