Alexander Cabrera: Beyond Price in Purchase Decisions

The preferences of the Venezuelan consumer are changing as segmentation by product, presentation, point of sale and price is expanded and subdivided according to the type of consumer. The price level of the products in the basic basket is no longer the only nor the most definitive factor in the purchase decision, since quality, proximity, trust and even the values ​​of the brands also play a relevant role at the moment of the decision on the commercial floor.

These were some of the main conclusions shared within the framework of the event Athens Shopper 360 connection, organized by the consulting firm Atenas Grupo Consultor with the presence of important brands from various mass consumption sectors, dozens of exhibitors and hundreds of attendees to an extensive cycle of conferences that extended throughout the day.

In this context, the CEO of the firm, Alexander Cabrerarevealed some key findings that have been presented throughout the current year: Own brands have been established as a trend widely preferred by many consumers and likely to increase among the priority options until constituting a market with a value of more than 65 million dollars as a result of the commercialization of 24.6 million units during 2025.

The new segmentation: from the extended family to the empty nest

And 43% of Venezuelan households fall into what Atenas has classified as extended families with more than 5.3 members on average with various links between themselves and quarterly expenses of approximately $1009; They follow them with a 29% of the population are “veterans with children” where the parents are over 40 years old and spending $1,036 per quarter.

Follow in order a 12% of “young families” whose parents have not yet reached their fourth decade and spend 921 dollars per quarterwhile a 11% are “free families”, those who do not yet have children and who spend around $760 per quarter. Lastly, the “empty nest” households con elderly parents and emancipated children spend $838 quarterly.

As to socioeconomic levelsthe latest studies by the firm indicate that 7% of the population equivalent to the middle/upper class has monthly income levels similar to those of Costa Rica, with 1,383 dollars and few concerns in their daily purchasing decisions.

Secondly, they are those households in an intermediate with up to 29% of the populationwhose Monetary income averages 583 dollars per month, similar to the majority of the population of Colombia. The largest group, with 64% of Venezuelans under this category earn 239 dollars per month per family groupin conditions similar to those of the Nicaraguan economy.

According to the premises set forth by the specialist, when the equation given by price and quality are combined with a retailer of convenience, price in the long run becomes a non-determining factor in future purchase decisions. He also specified that two well-known brands are the big winners according to the public’s mentions regarding their preferences in the areas of food and personal care: Polar and Colgate, respectively.

He strongly discouraged practices that tend to scare away consumers, such as checking invoices when leaving or consulting and selling the bags required for the purchase, as well as anything that worsens or delays the shopping experience depending on the time the customer is willing to invest in said activity.

The specialist Joco Gonzalezfrom the firm Zuliatec, stressed that even Venezuelan companies, according to PWC figures, have a long way to go in the implementation of AI.

Stop playing with AI

During the cycle of simultaneous conferences that were repeated throughout the day, that of the specialist Joco González, from the Zuliatec firm, stood out, who detailed how even Venezuelan companies, according to PWC figures, have a long way to go in the implementation of AI in their daily lives, its connection in terms of increased productivity, but above all in improving financial results.

The trend indicates that more than three quarters of the companies that have ventured into this field still do not see the results, which is completely the opposite with respect to the US market, in direct comparison.

He explained first-hand how the main Artificial Intelligence engines on the market allow the development of specialized agents that facilitate the automation of daily tasks and the connection with key business processes for greater effectiveness.

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