1. McKinsey & Company 1
Uncertainty remains the prevailing sentiment after several months,
with one of three Colombians citing optimism about the economy
8% 10% 10%
57% 58% 55%
35% 32% 35%
Confidence in own country’s economic recovery after COVID-191
% of respondents
Unsure: The economy will be impacted
for 6–12 months or longer and will
stagnate or show slow growth thereafter
Pessimistic: COVID-19 will have lasting
impact on the economy and show
regression/fall into lengthy recession
Optimistic: The economy will rebound
within 2–3 months and grow just as strong
as or stronger than before COVID-19
1 Q: How is your overall confidence level in economic conditions after the COVID-19 situation? Rated from 1 “very optimistic” to 6 “very pessimistic”; figures may not sum to 100% because of rounding.
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004; 4/29–5/4/2020, n = 1,014; 4/3–4/6/2020, n = 1,005, sampled and weighted to match Colombia’s
general population 18+ years
Apr 3–6
Colombia
May 1–4 Sep 1–11

2. McKinsey & Company 2
Colombians continue to cut back on spending, but have become
more optimistic since the last survey in May
Overall sentiment in the general population in Colombia1
% of respondents
1 Q: Please indicate how strongly you agree or disagree with each of the following statements. Please select only one response for each statement; figures may not sum to 100% because of rounding.
2 Measures difference in “strongly agree / agree” between current and last pulse survey.
38%
18%
21%
20%
14%
8%
27%
37%
32%
31%
32%
34%
31%
22%
35%
45%
48%
49%
55%
58%
64%
74%
5%
3%
Strongly disagree / disagree
Somewhat disagree / agree
Strongly agree / agree
Strongly agree/
agree difference
since last survey2
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004; 4/29–5/4/2020, n = 1,014, sampled and weighted to match Colombia’s general population 18+ years
I have been personally affected by the coronavirus or COVID-19
I am very concerned about losing my job
My ability to work has been reduced by coronavirus or COVID-19
My ability to make financial ends meet has been negatively impacted
by coronavirus or COVID-19
My income has been negatively impacted by coronavirus or COVID-19
Uncertainty about the economy is preventing me from making purchases
or investments that I would otherwise make
Given the economy and my personal finances,
I have to be very careful how I spend my money
I am cutting back on my spending
-1
-10
-18
+1
-8
-8
-10
-7

3. McKinsey & Company 3
Household income1,2
% of respondents
Increase slightly / increase a lotReduce slightly / reduce a lot About the same
Past 2 weeks
17%
4%
39%
Past 2 weeks
79%
6%
30%
63%
24%
37%
Next 2 weeks
1 Q: How has the COVID-19 situation affected your (family’s) overall available income, spending, and savings in the past two weeks? Figures may not sum to 100% because of rounding.
2 Q: How do you think your overall available income, spending, and savings may change in the next two weeks? Figures may not sum to 100% because of rounding.
While some Colombians’ incomes and spending have stabilized, the
vast majority are still seeing reductions in income and savings
Household spending1,2
% of respondents
Past 2 weeks
50%
30%
20%
27%
Past 2 weeks
42%
31%
31%
43%
25%
Next 2 weeks
May 1–4 September 1–11 May 1–4 September 1–11
Household savings1,2
% of respondents
17%
74%
9%
12%
6%
83%
Past 2 weeks Past 2 weeks
18%
31%
51%
Next 2 weeks
May 1–4 September 1–11
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004; 4/29–5/4/2020, n = 1,014, sampled and weighted to match Colombia’s general population 18+ years

4. McKinsey & Company 4
Purchase intent remains mostly negative across categories, except for
groceries, household supplies, and personal-care products
8
29
24
29
33
44
48
78
47
62
54
18
8
10
35
59
72
62
63
52
57
47
41
20
43
32
37
67
74
77
56
30
20
8
13
18
11
9
10
11
6
8
16
18
13
9
11
Restaurant
Snacks
Groceries
Quick-service restaurant
Tobacco products
Food takeout & delivery
Alcohol
2
Jewelry
Footwear
Apparel
Accessories
Non-food child products
Household supplies
Personal-care products
Skin care & makeup
Furnishings & appliances
Expected spending per category over the next two weeks compared to usual1
% of respondents
Decrease IncreaseStay the same
9
40
54
64
29
36
39
28
50
46
55
57
69
58
70
71
19
10
10
9
9
15
8
15
14
11
8
14
9
9
6
5
Entertainment at home
Books/magazines/newspapers
Personal-care services
Consumer electronics
Fitness & wellness
Pet-care services
Gasoline
Out-of-home entertainment
Cruises
Vehicle purchases
Short-term home rentals
Travel by car
Adventures & tours
International flights
Hotel/resort stays
Domestic flights
Net intent2
1 Q: Over the next two weeks, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2 Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
+10
-30
-45
-55
-20
-20
-31
-13
-36
-35
-47
-43
-59
-49
-64
-65
Net intent2
+12
-2
+10
-48
-21
-11
-11
-22
-35
-38
-76
-36
-56
-46
+3
-26
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004, sampled and weighted to match Colombia’s general population 18+ years

5. McKinsey & Company 5
Digital shift continues to accelerate in some categories such as
entertainment at home, and food takeout and delivery
1 Q: Over the next two weeks, where do you expect you’ll buy these categories? Tell us if you will shop in the following places more, about the same, or less in the next two weeks; please note, if you don’t buy
in one of these places today and won’t in next two weeks, please select “N/A.”
2 Net intent is calculated by subtracting the % of respondents stating they expect to decrease shopping frequency from the % of respondents stating they expect to increase shopping frequency.
Expected change in shopping channel per category over the next two weeks1
Axes show net intent,2 bubble size relative to share of respondents that have purchased category in last six months
-30 -5
0
25-15
-10
-50
-20
-35
-40
-25
-70
-20 -10 0
-60
5
-30
3510 15 20 30
10
20
Groceries
Consumer
electronics
Jewelry
Food takeout & delivery
Snacks
Accessories
Household supplies
(e.g., cleaning, laundry)
Tobacco
Furnishings &
appliances
Personal-care products
(e.g., soap, shampoo)
Non-food child products
(e.g., diapers)
Entertainment
at home (e.g., Netflix)
Skin care & makeupFitness &
wellness
Apparel
Footwear
Books/
magazines/
newspapers
Alcohol
Household essentials
Discretionary
Entertainment at home
In-store
Online
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004, sampled and weighted to match Colombia’s general population 18+ years

6. McKinsey & Company 6
Consumers expect to spend more time on work, social media, and
content consumption
9%
19%
21%
15%
19%
22%
39%
40%
36%
30%
49%
49%
54%
53%
59%
56%
56%
42%
42%
48%
55%
38%
43%
27%
26%
25%
25%
22%
19%
17%
17%
15%
13%
Online shopping for non-food purchases
Working
Social media
Texting, chatting, messaging
Movies or shows
Online shopping for groceries
Reading news online
Video content
Reading for personal interest
Live news
Video games
Decrease Increase
Stay the same
Expected change to time allocation over the next two weeks1
% of respondents
1 Q: Over the next two weeks, how much time do you expect to spend on these activities compared to how much time you normally spend on them? Figures may not sum to 100% because of rounding.
2 Net intent is calculated by subtracting the % of respondents stating they expect to decrease time spent from the % of respondents stating they expect to increase time spent.
Net intent2
+34
+8
+5
+10
+5
+1
-19
-23
-19
-15
-36-25
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004, sampled and weighted to match Colombia’s general population 18+ years

7. McKinsey & Company 7
Have you used or done any of the following since COVID-19 started1
% of respondents
1 Q: Have you used or done any of the following since the COVID-19 situation started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”;
“using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.”
More Colombians continue to acquire digital habits in food, work,
and entertainment
44%
43%
35%
37%
18%
14%
12%
21%
15%
12%
7%
29%
8%
7%
17%
17%
15%
12%
9%
16%
5%
4%
11%
5%
6%
5%
Online streaming
Restaurant delivery
Video chat: personal
Watching e-sports
Remote learning: my children or myself
Wellness app
Grocery delivery
Tiktok
Online fitness
Playing online games
Meal-kit delivery
Telemedicine: physical or mental
Videoconferencing: professional
Not using Using less / the same Using more Just started using
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004, sampled and weighted to match Colombia’s general population 18+ years

8. McKinsey & Company 8
A vast majority of consumers remain concerned about taking care
of family, health, safety, and the economy
71%
70%
67%
66%
66%
63%
60%
56%
52%
51%
45%
44%
41%
38%
33%
My personal health
The Colombian economy
Safety of me or my family
Taking care of my family
Health of my vulnerable relatives
Overall public health
Not knowing how long it will last
Contributing to spread of virus
Negative impact on my job or income
Negative impact on my business
Not being able to get the supplies I need
Not being able to make ends meet
Impact on upcoming events
My mental health
Impact on upcoming travel plans
1 Q: What concerns you most about the COVID-19 situation? Possible answers: “not a concern”; “minimally concerned”; “somewhat concerned”; “very concerned”; “extremely concerned.”
Largest concerns of the Colombia’s population related to COVID-191
% of respondents who are very concerned or extremely concerned
Very concerned /
extremely concerned
71%
of Colombians are
very/extremely concerned
about taking care of their
families
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004, sampled and weighted to match Colombia’s general population 18+ years

9. McKinsey & Company 9
Most Colombians expect COVID-19’s impact on routines and
finances to persist beyond another two months
12%
9%
4–6 months
24%
35%
20%
0–1 month
2–3 months
7–12 months
More than one year
9%
7%
19%
31%
20%
15%
7–12 months
2–3 months
No impact
0–1 month
4–6 months
More than one year
Adjustments to routines1
% of respondents
Impact on personal/household finances2
% of respondents
~91%
believe it will take
2+ months before
routines can return to
normal, down from
94% in the last pulse
survey
~84%
believe their finances
will be impacted for
2+ months by the
COVID-19 situation,
down from 88% in the
last pulse survey
1 Q: How long do you believe you need to adjust your routines, given the current COVID-19 situation, before things return back to normal in Colombia (e.g., government lifts restrictions on events/travel)? Figures may not
sum to 100% because of rounding.
2 Q: How long do you believe your personal/household finances will be impacted by the COVID-19 situation? Figures may not sum to 100% because of rounding.
Source: McKinsey & Company COVID-19 Colombia Consumer Pulse Survey 9/1–9/11/2020, n = 1,004; 4/29–5/4/2020, n = 1,014, sampled and weighted to match Colombia’s general population 18+ years

10. McKinsey & Company 10
Disclaimer
McKinsey does not provide legal, medical, or other regulated advice or
guarantee results. These materials reflect general insight and best practice
based on information currently available and do not contain all of the
information needed to determine a future course of action. Such information
has not been generated or independently verified by McKinsey and is
inherently uncertain and subject to change. McKinsey has no obligation to
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expressly disclaims any liability with respect thereto.