In general,Latvian consumers are typical consumers of a developed country: used to having a choice, especially concerning everyday and household goods, actively make use of international stores, have a somewhat negative attitude towards low-end products even though they are cheap (with some exceptions), are used to international brands.



Pricing

Although Latvia is a developed economy, it is still somewhat behind other EU member-states in terms of wages, and the prices reflect that. Latvian consumers are used to approximately the following prices:



5 - 15 EUR/kg for food items

200 EUR + around 100 for utilities/month for renting out a middle-class apartment

50 - 200 EUR for smaller electronic appliances (microwaves, clothes irons)

300 - 2000 EUR for bigger electronic appliances (TVs, computers)

10 - 70 EUR per article for non-elite clothes

15 - 70 EUR for entertainment such as restaurants, theatres and bigger concerts

It should be noted that the data are shown for the capital city of Riga. Prices in other cities may be significantly lower (up to 50% - 60%), especially in the real estate sector. Also, the prices indicated mainly depict the situation in major shops and shopping malls. Smaller stores and markets, especially in smaller cities, can provide a significant competition in terms of prices. If you require a complete and detailed analysis of a certain city for the purposes of market entry, please, do not hesitate to contact us.



Customer behaviour

Latvian customer behaviour or the culture of purchasing is distinguished by the following characteristics. Using the information provided by 'Euromonitor International', it can be said that Latvian customers can be roughly divided into the following segments, based on their consumption habits:



Children

Teenagers

Young adults

Middle youth

Mid-lifers

Seniors

Children

While children as a customer group are not a real target audience (their parents are), they define a separate group of purchasing behaviour trends. The main vector of development is that parents, seeking a healthier nutrition choices for their kids, switch to home cooking, as they deem school meals and baby food sold in shops not healthy or qualitative enough. This opens up possibilities for the marketing of 'kid-friendly' food that can be used to make both baby food and home-prepared meals for children to take to school.



However, this trend has also been noticed by schools themselves, and a number of improvements have taken place since 2014. Right now (2016), local municipalities strive to make school meals even better, which is why the trend of preparing lunches at home is not a stable tendency, and it is difficult to predict, whether it will stay for long. The tendency for home-prepared baby food, though, seems to be stable, and the number of food articles that promote themselves as 'kid-friendly' has also increased in recent years.



Teenagers

As is the case in other developed countries, Latvian teenagers as a customer group are active users of mobile devices such as smartphones. Moreover, smartphones are the main entertainment platform for this group, which makes Latvian teenagers the priority target audience for mobile gaming industry. This trend is also valid for the search of information and business management, but, understandably, for borderline teenagers (age 17-18, almost in the category of young adults), of whom many already try to engage in business and working in general. Again, this tendency is also present in many other EU member-states, where the use of mobile devices is booming.



Another notable event is that starting from June 1st 2016 the sale of energy drinks to persons under the age of 18 is prohibited. Until then, energy drinks have been popular with teenagers, but now, because of the ban, the popularity is decreasing. Aside from the fact that now it is prohibited to sell the drinks to the underaged, it is possible that the ban will also affect young adults, who will not develop a taste for energy drinks. The advertisement possibilities are now also regulated heavily, and the marketing of energy drinks is limited in media, whose target audience are teenagers. It could be said, that the sale of energy drinks in Latvia is now a less lucrative business, especially in the long term.

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