Argentina | Real-time consumption monitoring (Jan 13, 2020)

Summary

BBVA´s credit and debit cards consumption fell 7.2% (in real terms) in 2020, compared to 2019. Services transactions were more affected than goods. Consumers appear to show changes in certain shopping habits due to isolation.

Key points

• Key points:
• Only four sectors recorded positive YoY variations in 2020: Food, because we eat more at home; Home and Construction, due to investment strategies; and Digital Platforms, due to restrictions on mobility.
• Consumption habits (just like every other habit) changed in 2020. We spend more from Monday to Friday, and we do not use the ATM as much, although we withdraw more cash when using it.
• We shopped fewer than in 2019 but for a higher value. Transactions declined 9% YoY, while increasing its average value by 1.8% YoY (in real terms). The debit cards usage increased 3% YoY, while credit ones were used 19% less but for purchases of higher values.
• After the holidays peak of consumption, the first week of 2021 shows that accommodation and leisure are markedly increasing due to the beginning of summer season. Last week, the indicator registered a 7% YoY increase, that is still 9% below Dec-20 daily expenditure average.

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