While the middle class has grown significant over the last 7 years here in Panama and many have moved up to the upper class, all still ar price conscious when shopping for goods in Panama.

Price is the component with the most weight in decisions about purchasing products and services for residents of metropolitan Panama.  According to a survey by Ibope Media Panama, cited in an article in Capital.com.pa, “85% of those surveyed by Ibope Media in metropolitan Panama, including Panama, La Chorrera, Arraiján, Colón, and San Miguelito, look for the lowest prices when they shop. ”

Panamanian city dweller’s favorite places to shop are in shopping malls, which “have become one of the main places to visit: 87% of those studied, went to a mall within the last 30 days: From these people, 53% are women while 47% are men. Regarding socioeconomic status, 58% belong to middle + high, while 42% are from a lower socioeconomic group. “