Colombia | Weekly update BBVA Tracker: Consumption. 8 July, 2020.

Summary

During the second VAT holiday the consumption of goods had a good dynamic but fell 17% compared to the first VAT holiday. The sectors of household appliances, clothing and department stores saw significant growth, which was preceded by a fall in the days leading up to the day.

Key points

• Key points:
• Due to the restrictions adopted by the government, online commerce was favored, which had a growth of about 250% in the number of transactions.
• The most used payment method during the day without VAT were debit cards. This can be associated with the mid-year extra wage payment made at the end of June.
• The gap in consumption recovery is widening between coastal cities and the rest of the country.
• On the second day without VAT, Bogotá had a better performance in the clothing sector. However, the balance in Medellín and Cali was less favorable.
• Fuel consumption continues to show good dynamics in all cities of the country. Especially in Bogotá, Medellín and Cali

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