Dakazo refers to a set of actions taken by the Venezuelan government forcing consumer electronic retail stores, with Daka being the most prominent, to sell products at much lower prices on 8 November 2013, weeks before municipal elections.
[1] The forced Daka price changes helped Venezuela's ruling party, PSUV, win in some of the municipal elections,[2] though the massive sale of goods caused further shortages in the months following the initiative.
[1][6][7] At the main store in Caracas, troops filed hundreds of people in lines where they waited for hours to purchase items one person at a time.
[6] Head of the Superior Organ for the Defense of the Economy, Hebert García Plaza, later promised that "all the Venezuelan people will have the capacity to obtain a plasma television and a refrigerator of the latest generation".
[9] Days later on 10 November 2013, multiple managers of Daka, JVG and Krash were arrested by SEBIN and were prosecuted on charges of unjustified price increases after importing products with dollars obtained at the official exchange rate of 6.3 bolivars.
[2] Multiple economists warned that the actions taken by the government during the Dakazo would end up "cannibalizing" the economy, causing even more shortages since importing additional goods into Venezuela following the massive sale of products would be difficult for vendors due to currency controls and the black market exchange rate.
[4][5][6] By December 2013, shelves were empty in Daka stores, though Hebert García Plaza, then High Authority for the Defence of Economy, stated that the stock of goods would return to normalcy soon.