Retail sales in Colombia experienced a deceleration in growth in December 2024, as newly released data reveals a notable drop in the annual growth rate. The latest figures, updated on February 14, 2025, indicate that retail sales rose by 7.8% compared to December 2023, a slowdown from the 10.4% growth observed in November 2024.
This significant decline underscores potential shifts in consumer behavior during one of the most crucial sales months of the year. The 7.8% increase, though positive, suggests that despite the holiday season, sales did not match the high momentum seen a month earlier. It remains to be seen how economic factors played into this slowdown, whether due to inflation, changes in consumer confidence, or supply chain disruptions.
The data reflects year-over-year comparisons, highlighting how the current December's performance fares against the same month last year. As the Colombian market continues to navigate global economic challenges, understanding the drivers behind such changes will be essential for businesses and policymakers alike to strategize effectively for the months ahead.
