Peru | Real-time analysis of the impact of COVID-19 on consumption (up to September 28)

Summary

In September, total card consumption grew 9.2% compared to the same month in 2019 (6.2% in August). However, online card purchases show a declining trend in recent weeks even though they remain important.

Key points

• Key points:
• Spending on supermarkets, pharmacies and entertainment subscriptions, very dynamic during confinement, continued to moderate in September.
• Card spending on home goods and services has normalized, while recovery of expenditure in fashion and beauty stagnates. Furthermore, the recovery of spending in some areas such as transportation, restaurants and sports-related items, continued.
• In sectors such as hospitality and airline tickets, spending levels show a slight recovery, although they are still lagging behind because these activities continue facing limited operation levels. However, we expect a pronounced improvement with the start of Phase 4.
• Cash withdrawals remain below the levels observed in the previous year.

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