Retail growth in Latin America has been robust in recent years, supported by a burgeoning base of value-added manufacturers and rising personal incomes: according to the World Bank, GDP per capita in Latin America and the Caribbean rose by nearly 20% over the previous decade to end 2020 at $15,900 in current US dollars, while the retail market is expected to surpass $300bn in value for the first time next year, up from $263bn in 2017. As the world reopens after a punishing pandemic, the future looks especially bright for Indurama, the region’s leading appliance manufacturer, and Marcimex, Ecuador’s top appliance retailer.
Overseen by their parent company Grupo Consenso, Indurama and Marcimex have set the standards for excellence in their respective industries. Indurama traces its history back to 1972, and boasts decades of success across 20 countries in Latin America, South America and the Caribbean. Marcimex, meanwhile, has risen to the top of the domestic retail industry with an expansive product offering comprising everything from tablets and smartphones to furniture and motorcycles. As Marcelo Jaramillo, CEO of Grupo Consenso explained, both have been successful because of their collaborative approach to doing business: