Retail in 2024: The big picture
Overall, 2024 was a positive year for retail in Chile, with strong reactivation and consumers looking to spend more on a variety of products, while still searching for discounts and other attractive value propositions. Players across all channels looked to capitalise on this development, creating new experiences, offering new discounts, and leveraging their digital footprint to connect via social media and e-commerce channels.
E-commerce goes from strength to strength in Chile
E-commerce remained an important retail channel for Chileans in 2024, with local consumers now accustomed to the ease of shopping online, often turning to digital platforms when they are unable to find what they want in-store, as the selection through retail offline can be more limited. In this context, shopping online and collecting in-store continue to reduce wait times, with many retailers offering collection within two hours or less in selected locations, as they strive to improve their omnichannel strategies.
Informality and insecurity still top-of-mind issues for retailers and consumers
The informal market in Chile remains higher than pre-pandemic years, with approximately 6% of e-commerce sales being considered informal, according to the Camara Nacional de Comercio, Servicios, y Turismo (CNC), and approximately 32% of Chileans being employed informally, most of them in the commerce sector. It is common to see sellers of various goods along city streets, with various initiatives being taken at a local and central level to eliminate this type of activity, either by penalising those that sell and shop, or by helping vendors to find formal ways to make a living.
What next for retail?
Over the forecast period, retail is expected to continue to post healthy growth rates, as inflation is likely to further ease or remain under control. Improved macroeconomic conditions and greater confidence will support additional spending by local consumers.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Chile, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Chile report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Chile?
- Which are the leading retailers in Retail in Chile?
- How are products distributed in Retail in Chile?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Chile?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Chile
Retail in 2024: The big picture
E-commerce goes from strength to strength in Chile
Informality and insecurity still top-of-mind issues for retailers and consumers
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas and New Year
Back to School
Independence Day
DISCLAIMER
Convenience Retailers in Chile
KEY DATA FINDINGS
Channel continues on its positive growth trajectory
Copec remains leader of forecourt retailers as it focuses on innovation in foodservice
Aramco enters the local market
Convenience retailers shows signs of maturity
Convenience stores set to ease standalone openings
Use of technology and leveraging of loyalty programmes lags
Supermarkets in Chile
KEY DATA FINDINGS
Supermarkets experiences positive 2024 supported by its proximity to consumers
Innovation and in-store experiences remain limited
Santa Isabel leads value sales, but has room for outlet growth
As channel reaches new levels of maturity, growth will be slow, despite announcement of new store openings
Demand for convenience and e-commerce to place pressure on supermarkets
Private label to remain key price differentiator
Hypermarkets in Chile
KEY DATA FINDINGS
Hypermarkets remains a popular grocery channel for Chileans
Innovation in packaged food helps hypermarkets to offer more diverse products
Walmart retains lead and looks to replenish its store network
Positive outlook for hypermarkets as players look to invest in expansion and infrastructure
Secondary categories and increasing in-store experience key over forecast period
Arrival of InRetail and expected expansion of discounters can impact hypermarkets
Discounters in Chile
KEY DATA FINDINGS
Discounters struggles to capture significant consumer attention
Bodega ACuenta remains dominant brand of discounters
InRetail purchases Erbi to herald a potential change in the dynamics of discounters
Entry of new players and more promotional activities could benefit discounters
New arrivals could improve channel’s importance in local market
E-commerce still offers room for development
Small Local Grocers in Chile
KEY DATA FINDINGS
Value sales of small local grocers continue to recover, while outlet decline slows
Personal relationships with customers remain key element differentiating small local grocers from competitors
Expansion and innovation limited by issues in accessing funds
Small local grocers set to struggle over the forecast period
Growth of discounters could prove complicated for small local grocers
Channel can remain relevant by offering additional services
General Merchandise Stores in Chile
KEY DATA FINDINGS
Positive year for department stores, with new possibilities for future growth
Nostalgia and affordable prices help variety stores gain importance
Falabella looks to reactivate sales after a difficult period
Despite established presence, department stores still offers room to grow
Variety stores set to record further dynamic growth over forecast period
E-commerce likely to remain important competitor for general merchandise stores
Apparel and Footwear Specialists in Chile
KEY DATA FINDINGS
Value sales of apparel and footwear specialists fully recover
Hennes & Mauritz strengthens leadership, while international brands look to enter the local market
Multitiendas Corona continues to struggle
Apparel and footwear specialists to continue on positive trajectory, but will face competition
Expansion of product lines key for apparel and footwear specialists
Adapting to changing climate conditions will be important moving forward
Appliances and Electronics Specialists in Chile
KEY DATA FINDINGS
More favourable conditions drive up value sales in 2024
Strong online competition places pressure on outlet numbers
Quintec strengthens leadership of highly fragmented competitive landscape
Appliances and electronics specialists set to continue on positive path
Private label and direct-to-consumer key elements for the channel
After-sales services as an opportunity to increase brand loyalty
Home Products Specialists in Chile
KEY DATA FINDINGS
Home improvement and gardening stores remains under pressure, with 2024 seeing mixed results
Homewares and home furnishing stores continues to thrive and leverages social media to reach consumers
Falabella SACI continues to make gains in homewares and home furnishing stores
More stable outlook for home improvement and gardening stores will be supported by improving property sales
Greater innovation and variety needed for homewares and home furnishing stores to contend with competition
Pet shops and superstores will remain most dynamic performer overall
Health and Beauty Specialists in Chile
KEY DATA FINDINGS
Resilient beauty specialists continues to enjoy solid growth in Chile
Improvements for pharmacies, but pressure from informal market still concerns players
Farmacias Cruz Verde remains top of mind for local consumers of pharmacies
Changing demographics increase innovation opportunities for beauty specialists
Positive outlook for pharmacies, with space for greater innovation and leveraging of data
Ageing population is opportunity for players to increase services and products
Vending in Chile
KEY DATA FINDINGS
Slow growth for vending due to limited innovation in Chile
Soft and hot drinks drive vending demand in Chile
Safety concerns drive players to install vending machines in captive environments
Vending reaches maturity, slowing future growth potential
Innovative experiences could help channel attract attention
Vending to adapt to demand for more efficient and cashless payments
Direct Selling in Chile
KEY DATA FINDINGS
Direct selling experiences marginally stronger performance in 2024
Consumer health direct selling impacted by rise in product availability in competing channels
Natura’s lead of direct selling is supported by its omnichannel strategy
Positive outlook for direct selling but challenges will remain
Product diversification and digital tools key for future growth
Natura set to remain leading brand in direct selling
Retail E-Commerce in Chile
KEY DATA FINDINGS
E-commerce strongly rebounds with double-digit value growth in 2024
Cyber Monday 2024 breaks records to support channel’s performance
MercadoLibre strengthens lead of e-commerce in Chile
E-commerce reaches maturity as consumers become increasingly accustomed to the digital arena
Click-and-collect options closer to consumers essential to increase shopping
Further integration of technology key for forecast period growth
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
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This report originates from Passport, our Retail research and analysis database.
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