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5 Major Challenges Imposed by COVID-19 on Latin American CPGs

An immediate challenge of the coronavirus crisis on CPGs has been the devaluation of many Latin American currencies, driving up the purchase price of imported raw materials and supplies.

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For a significant number of respondents (14.2%), the economic and financial scenario has become highly uncertain, given the indecision of some Latin American governments to apply measures in support of companies’ operations.

This, our second post based on responses to the PMMI survey on the impact of coronavirus on the Latin American industry, offers a look at the main challenges that CPGs face in today's uncertain panorama.

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In the midst of adverse conditions, and despite disruptions in supply chains such as those pointed out in our previous post, consumer packaged goods companies in our region (CPG) continue operations and serve markets with essential products for the well-being and survival of the population.

Latin American CPGs Redouble Efforts to Keep Supply Chain Open

By adapting their routines to the prevailing conditions, entrepreneurs and many of their employees in management positions guide their factories’ operation through the internet on numerous digital platforms offered today. This arrangement is growing every day and has been welcomed by 55% of participants in the survey, who are now working from home. (See Graph 1)Graph 1

A significant number of companies have also begun to adjust their production lines, and others are considering doing so, to comply with the requirements of governments and health authorities and produce medical devices to deal with the coronavirus pandemic, such as respirators, masks, and other specialized supplies. (See Graph 2)

Five Challenges / Areas for Action

One of the main purposes of this PMMI online survey was asking entrepreneurs about the current difficulties they face in their different activities. Their responses can be framed by the challenges they are taking on in five main areas (See Graph 3):

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