San Victorino commercial sector faces 50% drop in sales

The San Victorino commercial district in Bogotá is experiencing a significant economic downturn, with wholesale sales reportedly dropping between 40% and 50%. According to reports presented by Councilwoman Cristina Calderón Restrepo, this decline threatens the livelihoods of approximately 25,000 merchants and puts nearly 23,800 direct and indirect jobs at risk.

Several factors contribute to this crisis. Merchants cite intense competition from international e-commerce platforms and Asian digital marketplaces, which have altered national consumption habits. Additionally, formal businesses face high fixed costs, including taxes such as VAT, tariffs, payroll, and rent, which can consume up to 35% of their income. This is compounded by competition from informal sellers and irregular charges for occupying small public spaces in high-traffic areas.

The impact extends beyond local storefronts to the broader textile and garment production chain, affecting small producers and suppliers. While district authorities have conducted operations to recover public space and seize unauthorized merchandise, the sector remains under pressure. Merchants are looking toward the upcoming high-sales seasons from September through December to recover lost revenue.