Venezuela’s Poor Vastly Underserved

Monday, April 9, 2007

Only 11 percent of Venezuelans in social stratum E can afford home and personal care expenses, while 54 percent manages to afford “the most important things.”

As a matter of fact, social stratum E comprises the most important consumption market niche in the country. “The poor are increasing in number, but their income has improved significantly since 2004.”

Benjam?n Tripier, representative of Nueva Tecnolog?a de Negocios (New Business Technology), during a forum called “Business strategy and social inclusion,” added that the poor are so important that businesses and suppliers need to ally to meet their basic needs. He claimed that the have-nots’ basic needs are 40 percent for food and healthcare, 40 percent for dwelling and 20 percent for education and others.

According to Tripier, “the Venezuelan Government has transferred purchasing power to this group through missions and social programs.”

Tripier based his conclusions on statistical data provided by research firm Datos.

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Source: El Universal (link opens in a new window)