The new edition of the Consumer Pulse study, conducted annually by the strategic consultancy Bain & Company, indicates that 26% of Brazilians assess their financial situation as having worsened compared to the previous year. The perception of price increases has also intensified, with 90% of respondents noticing higher prices for goods and services in 2025, up from 81% who reported this perception in 2024. The items identified as the main contributors to inflation were food, followed by energy bills, personal care, clothing, and healthcare.
With the rising cost of living, 83% of Brazilians stated they have reduced or plan to reduce personal expenses, particularly on clothing and food delivery. Only 14% of Brazilians can save without giving up purchases they desire, while 11% save by buying only essentials. Another change focused on greater savings was their willingness to try cheaper new brands, a behavior adopted by 42% of consumers.
The study also identified differences in consumption behavior across different income brackets. While higher-income individuals seek to cut expenses on restaurants and delivery, lower-income consumers reduce food and clothing purchases and try to save on energy bills. Among the 45% of respondents who joined loyalty programs, high-income consumers associate participation with rewards and turning spending into benefits, while others are primarily motivated by the possibility of saving in everyday life.
The pursuit of lower prices has also driven changes in where Brazilians shop. Online commerce and wholesale have gained more traction, with 39% of respondents increasing their online shopping frequency and 32% buying more from wholesalers. In e-commerce, the most mentioned attractive factors for consumers are more affordable prices (cited by 61%), free shipping (55%), and discounts (54%).
Diverse profiles, distinct habits
The research also identified different behaviors among consumers, according to income and generation:
- 47% of Generation Z bought products from new brands in the last three months, compared to 36% of boomers;
- Low-income consumers trust financial institutions less, recording a rate 1.7 times lower than high-income consumers.
- Although they claim to reduce expenses, 16% of low-income consumers maintain entertainment spending, a behavior seen in 26% of high-income consumers;
- 80% of high-income consumers participate in loyalty programs, compared to 25% of low-income consumers.
“The survey data shows that, despite pessimism about the present, there is resilience in Brazilians’ optimism for the future. Companies that pay attention to the trends presented in the study and the generational differences shaping the consumption landscape have a chance to better adapt to the market in the coming years,” says Ricardo De Carli, partner and leader of Bain’s Consumer Goods practice in South America.
The Consumer Pulse survey was conducted by Bain & Company in January 2025 with approximately 7,500 respondents in Latin America, including 2,000 Brazilians, segmented by age and income groups according to the region’s demographic data.
