Colombia | The colombian consumer today

Summary

With the pandemic, households changed some of their consumption habits. Today, many Colombian workers are home-based, which allows them to have more time available for leisure and other activities. Some of that time is used to do the shopping that used to be done on weekends.

Key points

• Key points:
• Spending made on other days of the week has gained relevance and the volume of purchases has stabilized on all days, except Mondays, a day that remains with low transactionality.
• The average value paid in each transaction is much higher on weekdays than on weekends, since the latter are more related to low-cost services (restaurants, movie tickets) than to the purchase of high-cost goods.
• The creation of VAT-free days, a counter-cyclical instrument for economic reactivation, concentrated spending at the end of the year, something that was already happening before the pandemic, but which deepened, and reduced spending at the beginning of the following year.
• In total, the average purchase in the country dropped from 140 thousand pesos in 2017 to around 120 thousand. This value is higher in sectors such as travel agencies, airlines and hotels, while it is reduced in restaurants and gas stations.

Geographies

Topics

Tags