In Consumer and Retail

Peru’s economy is faltering, showing low growth in 2023. In fact, the Peruvian Institute of Economics (IPE) has cut GDP growth projections to 0.8% per year, which would be “the lowest growth rate in the last 20 years” excluding the pandemic. The International Monetary Fund (IMF) is more optimistic and puts Peru’s annual GDP growth at 2.4% by 2023.

In product commercialization, Peru is weakly sustained. The Ministry of Production (Produce) reported a 0.9% year-on-year growth in the retail sector in the accumulated January-July 2023; in June there was a decrease of -2.5% YOY, although in April the sector had shown a positive growth of 5.1%.

Below are the products that, despite the adversity, show the highest growth rates in sales in Peru.

The 2023 Latin America Forecast


The 2023 Latin America Forecast

Five massive trends that will shape Latin America not only for in 2023—but also throughout the rest of the decade into 2030

Peru: 6 products that increased sales in 2023, according to Produce

#1 Food

Food accounts for 45.5% of purchases in supermarkets and hypermarkets in Peru (defined as large markets, including Supermercados Peruanos, Cencosud and Makro).

As of June 2023, food sales in this type of establishments increased by 12.6%.

The best-selling products in Peru - Food

#2 Beverages and tobacco

Beverages and tobacco had an increase in sales of 20.1% YOY to June 2023, according to Produce. This segment has a 13.8% share of total sales in supermarkets and hypermarkets.

The best-selling products in Peru - Beverages and tobacco

#3 Pharmaceuticals and cosmetics

Cosmetics and pharmaceutical products show a 10% YOY sales growth to June 2023. This segment contributes 17.6% of sales in supermarkets and hypermarkets in Peru.

On the other hand, department stores such as Saga Falabella, Ripley, Oechsle and others showed a 17% growth in sales of pharmaceuticals and cosmetics, although in this case there was only a 2.5% contribution to total sales.

The best-selling products in Peru - Pharmaceuticals and cosmetics

#4 Furniture

Furniture is the only product that shows a growth in sales within the home equipment category, according to Produce data. Thus, there was an increase in furniture sales in Peru of 6.8% YOY in June 2023. On the other hand, household goods and other products had a decrease of -0.6% and -2.3%, respectively.

Currently, the most important stores in the sector are Conecta Retail and Importaciones Hiraoka.

The best-selling products in Peru - Furniture

#5 Personal care products

In pharmacies and specialty stores, personal care products had a sales growth in Peru of 22.6% as of June 2023. This refers to sales of products such as creams, shampoo, perfumes and others.

The most important stores are MiFarma, Ekerd Peru, CETCO, ALBIS and Avon Products.

The best-selling products in Peru - Personal care products

#6 Books, stationery and newspapers

Sales of books and stationery grew 9.2% YOY in June 2023. Within this category, books had a 10.3 % increase in sales.

According to Produce, the stores that stand out in this sector are: Distribuidora Navarrete, Ibero Librerías, Librerías Crisol and Tai Loy.

The best-selling products in Peru - Book, stationery and newspapers

Other products with increased sales in Peru 2023-24

The best-selling products in Peru - Electrified vehicles

#7 Electrified vehicles

According to data shared by El Comercio, the sale of electric vehicles in Peru increased by 69.3 % YOY in March 2023.

The most prominent brands are Toyota (21.9 % share), Geely (20.3 %) and Audi (10.6 %). However, some brands are doing quite well: Subaru had a 2900 % increase in sales in the accumulated January to March vs. the same period of 2022; Suzuki increased its sales of electric cars in Peru by 322.7 % and Mercedes-Benz by 148.6 %.

The best-selling products in Peru - Video games

#8 Video games and related products

During the first half of 2023, sales related to video games increased by 8% YOY in Peru, according to GfK data shared by PeruRetail.

The online channel is very relevant in the sales of equipment and consoles. Thus, 7 out of 10 video game consoles are purchased online, as well as 6 out of 10 gaming laptops.

On the other hand, department stores represent between 65 and 70 % of sales in the sector.

The best-selling products in Peru - Vehicles

#9 Vehicles

Vehicle sales in Peru increased by 8.6% in July 2023, according to data from the Peruvian Automotive Association (AAP).

SUVs and off-road vehicles are the best-selling vehicles, with 45 thousand units sold so far this year, followed by cars (21.2 thousand), vans (19.3 thousand), and pick-up trucks (14.5 thousand).

Next Steps

Contact us if you’re interested in further market research about the consumer market in Colombia or other countries. Over the past 30 years we’ve conducted more than 600 consumer market research studies for Latin America. These include market landscape studies, opportunity benchmarking, competitive intelligence and more.

You may also want to explore our other stories on top-selling products in Latin America overall in 2023-24, as well as 2023’s best-selling products in markets such as ArgentinaMexicoChile, and Brazil.

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