Colombia Consumer Goods and Retail Sector Report H1 2024

Colombia's GDP grew by 0.6% y/y in 2023, primarily due to a decrease in household consumption growth, which decreased from 10.7% y/y in 2022 to 1.1% y/y in 2023. The retail sector was one of the worst affected, decreasing by 2.8% y/y. In December 2023, the retail trade index decreased by 4.5% y/y in real terms, due to a 78% contraction of the sub-sectors, as only alcoholic beverages and tobacco, personal care items and household cleaning products showed an annual expansion in sales. By contrast, the automotive sector exhibited the poorest performance with a decline in sales of -23.7% y/y. The decrease in retail activity was in line with the deceleration of household consumption of durable and semi-durable goods due to high inflation and interest rates. In the same month, inflation remained above the Central Bank's target, standing at 9.3% y/y, mainly explained by transport prices that experienced the most significant increase at 15.4% y/y, primarily due to the higher price of gasoline. Following closely, restaurants and hotels saw the second highest growth rate at 13.2% y/y, largely attributed to the rise in the cost of meals prepared outside the home, which surged by 14.8% y/y.

This report provides a complete and detailed analysis of the "Retailing" sector for Colombia. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Retailing" sector in Colombia
• Crystallise the forces both driving and restraining this sector in Colombia
• Ascertain Colombia’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Colombia.
• Build a clear picture of trends, output and consumption for specific sub-sectors