A market research reveals that soda and milk are the best sellers in grocery stores across the country. However, in the case of beverages a decrease in sales is recorded due to the 14% VAT increase (Value Added Tax).
The Geodata firm conducted a survey for details on the Ecuadorean consumer behavior. According to this study, the best selling products in grocery stores are: sodas, milk, oil, cigarettes and water.
From this list, soda, cigarettes and bottled water suffered the VAT increase and previously, the first two already had the new tax on special consumption.
These products recorded in May a variation in price, according to data from the National Institute of Statistics and Census (INEC). Tobacco with an increase of 7.77%, food and non-alcoholic beverages with an increase of 0.17%.
Marco Tehanga, manager of the Geodata firm, who notes that in order to assess the impact of the new taxes, the firm will conduct a new survey.