economy
The growing insecurity in neighborhoods forces shopkeepers to operate in fear and close early
29% said they now close earlier to avoid unsafe situations at night. Photo: iStock
TL;DR
- Neighborhood stores in Colombia are facing significant challenges, including decreased consumption, profitability, and increased insecurity.
- Reduced purchasing power of households is leading consumers to opt for cheaper alternatives and substitute products, impacting store sales.
- Rising operational costs, such as rent and utilities, alongside stricter supplier conditions, are pressuring store margins and cash flow.
- Increased insecurity in neighborhoods is forcing shopkeepers to adopt safety measures like installing security systems and closing earlier.
- Technological lag, particularly the lack of POS systems and limited use of digital sales channels, exacerbates the vulnerability of these traditional businesses.