Healthy Living and Retailers in Latin America
Healthy lifestyle habits are becoming more usual as health concerns continue to rise. Crucially, being “healthy” has evolved through the years, from a concept focused on aesthetics to a more holistic approach including not only appearance, but also mental well-being and physical health. This means that being “healthy” is no longer the result of simply being on a diet; it is a lifestyle that includes mental well-being, exercise and better eating habits. These changes are part of the Healthy Living megatrend identified by Euromonitor International.
Latin Americans are starting to incorporate Healthy Living
While Healthy Living is a global megatrend, there is a larger portion of Latin Americans who take part in this new lifestyle. In fact, Euromonitor International’s Lifestyle Survey from 2017 shows that eating fruits and vegetables, not smoking, and regular exercise are viewed as extremely important health factors amongst Latin American respondents, especially those in Brazil.
Source: Euromonitor International’s Lifestyle Survey 2017
Consequently, a larger portion of the population now seeks out products and services that can help improve their wellbeing and support their health goals. For retailers, this can translate into an interesting opportunity as these products cater to consumers ‘specific needs and often to a premium segment, as new food products, clothing and gadgets are sold at considerably higher prices.
As these higher prices can be inaccessible for a large part of Latin Americans, some local retailers are incorporating health-oriented items into their private label strategy. This allows retailers to build their positioning amongst health-oriented consumers and helps introduce healthier products, which tap into the aspirational component of healthy living, into private label portfolios, making this trend more accessible for the middle and lower classes.
How can retailers leverage the Healthy Living megatrend?
Retailers, specially grocery players, can act as educators and advisors, providing consumers with nutritional information and health advice online and offline, helping them make more informed decisions.
For example, Carrulla, a Colombian supermarket, has added its own labels on products that fit select criteria as “Bueno Para Ti” (“Good for You”), helping consumers identify products that address their health concerns, as there is no standardized labeling regulation in the country.
To find out more about how retailers can incorporate the Healthy Living megatrend into their strategy, register to watch our webinar Megatrends and Retail in Latin America.