Colombia | Big Data Consumption Tracker. 7 apr, 2022.

Summary

Consumption continued its slowdown in March, despite the VAT-free day. Among the components, the slowdown was explained by services, with goods showing a slight advance. Nevertheless, the real growth rate remains high.

Key points

• Key points:
• By category, there was a moderation in the dynamics of entertainment, gas stations, transportation and hotels. In apparel, a significant increase was observed during the VAT-free day, but its level declined again in the second half of the month.
• With the VAT-free day, there was an increase in credit card sales and online purchases.
• At the city level, spending slows down in Bogota, but is still slightly better than other cities. On the other hand, Medellin improved compared to February and Pereira showed the largest deterioration, even though the changes were minor.
• Apparel spending continued to improve in March, driven by the VAT-free day in most cities, except Bucaramanga and Cartagena. In contrast, a generalized deterioration was observed in restaurants and in most cities in gas stations, except Medellin and Barranquilla (which showed deterioration only at the end of March).

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