The new edition of the Consumer Pulse study, conducted annually by strategic consulting firm Bain & Company, indicates that 26% of Brazilians believe their financial situation has worsened compared to the previous year. The perception of rising prices has also intensified, with 90% of respondents noticing an increase in the prices of 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 health.
With the rise in the cost of living, 83% of Brazilians stated that they have reduced or intend to reduce their personal expenses, especially in clothing and food delivery. Only 14% of Brazilians are able to save without giving up buying what they want, and 11% save by only purchasing essentials. Another change focused on greater savings was the willingness to try new, cheaper brands, a behavior adopted by 42% of consumers.
The study also identified differences in consumption behavior among different income groups. While those with higher incomes seek to cut expenses on restaurants and delivery, consumers with fewer resources reduce their purchases of food and clothing and try to save on their energy bills. Among the 45% of respondents who joined loyalty programs, high-income consumers associate participation with rewards and converting spending into benefits, while others are primarily motivated by the possibility of saving in their daily lives.
The search for lower prices has also driven changes in where Brazilians shop. Online and wholesale commerce gained more space, with 39% of respondents increasing their online shopping frequency and 32% buying more from wholesalers. In e-commerce, the most mentioned factors as attractions for consumers are more affordable prices (indicated by 61%), free delivery (55%), and discounts (54%).
Different profiles, different habits
The research also identified different behaviors among consumers, according to income and generation:
- 47% of Gen Z purchased products from new brands in the last three months, compared to 36% of boomers;
- Low-income consumers trust financial institutions less, registering a rate 1.7 times lower than that of high-income consumers.
- Despite claiming to reduce spending, 16% of low-income consumers continue to spend on entertainment, a behavior maintained by 26% of high-income consumers;
- 80% of high-income people participate in loyalty programs, compared to 25% of low-income people.
“The data collected by the survey show that, despite the pessimism regarding the present, there is resilience in Brazilians’ optimism for the future. Companies that pay attention to the trends presented in the survey and the generational differences that are emerging in the consumer landscape have the 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, with divisions by age group and income segmented according to demographic data from the region.
