Argentina | Real-time consumption monitoring (Sep 11, 2020)

Summary

September started without substantial changes in the general consumption dynamics with respect to August. “Millennials” increased their spending during the pandemic at the same time that ATM cash withdrawals by those over 65 years of age contracted in quantity and increased in amount.

Key points

• Key points:
• So far in September, no significant changes have been observed in the dynamics of card consumption across the different categories compared to the two last weeks of August. There is a slight, more visible improvement in spending on services compared to consumption of goods.
• Our indicator of consumption in Construction and Home captured the moderation of the increase in activity in the sector during August reported by the Construya Group this week.
• Since the beginning of the lockdown, those under 45 years old have increased their consumption, especially the "millennials", while people over 65 are consuming less but for greater amounts.
• Our customers over 65 years old increased their average amount of cash withdrawals by almost 60% compared to the pre-pandemic situation.

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