Time to Put the Credit Cards Away

In Costa Rica, a UNIMER (Research International) survey commissioned by El Financiero indicated that even high-income sectors plan to reduce their expenses.

Monday, April 13, 2009

The middle-income sector would be the most inclined to avoid using credit cards in the current economic crisis.

To overcome the reduction in plastic money transactions, credit card issuers have adopted various measures such as promotions.

In his article in Elfinancierocr.com, Esteban Ramírez Castro said that "the study also found that the penetration of credit cards within Costa Rican households is still weak. Only 32% of households claimed to have this type of financial product. The major coverage of the cards is found in the segment of people with high purchasing power (75%), followed far behind by the middle level (40%)."

More on this topic

Rise of Own Brand Labels in Peru

April 2015

Eight in ten Peruvians buy own brand label products, with bread, rice and oil having the most presence in supermarkets

From a statement issued by the Costa Rican Foreign Trade Promotion Office:

Peruvians prefer to shop in supermarkets, because of the variety of products on offer , as well as for reasons of safety and comfort.

Consumption Up in Panama

July 2013

During the first quarter of 2013, public sector consumption increased by 7.6%, while the private sector reported a 9.7% rise.

In the public sector, growth represented a total of $1,558 million in expenses. In the private sector, the increase in consumption was due to the collection of taxes on transfer of property and services.

Consumer Trends in Italy

July 2013

The economic crisis facing the country is causing consumers to be more cautious in their purchases, consulting web sites rather than going directly to dealers.

From an article by the Costa Rican Trade Promotion Office (PROCOMER):

The biggest concern of the Italians is their economy, this has resulted in a consumer who is more aware and more cautious in their decisions, spending less and being more selective.

Crisis: Changes and Adjustments in Consumption Patterns

March 2009

A third of the households in Costa Rica have been making severe adjustments in expenditures, primarily those made outside the home.

At the request of El Financiero, the School of Statistics at the University of Costa Rica did a survey "Costa Rican Households on the Face of the Crisis," which revealed the magnitude of changes in consumption caused by the economic crisis.

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