Colombia | BBVA Big Data Consumption Tracker. 11 Feb, 2022

Consumer spending remained strong at the beginning of the year, although there are already signs of a deceleration, especially in the goods group. Department stores and drugstores were the items that declined the most. On the other hand, services recovered dynamism.

Key points

• Key points:
• Consumption remains strong at the beginning of the year, although it shows some signs of deceleration, especially in the goods group. Services, on the other hand, recovered some of the momentum they had lost in the first weeks of 2022.
• In the goods group, spending in department stores and drugstores showed the strongest deceleration. On the contrary, fuel consumption, especially in Bogota, showed a solid rebound.
• As expected, due to the end of the holiday season, consumption associated with tourism and restaurants stabilized at lower levels than those reported at the close of 2021.
• Purchases through physical means have been gaining representation over purchases through virtual channels.
• Among the large cities, Medellín was the one that lost the most dynamism. In contrast, Bogota consolidated its leadership at the beginning of the year.

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