Electronic products: What to expect from the market?

The slowdown in domestic consumption in Costa Rica, together with the local currency depreciation, will cause customers to buy fewer high-end technology products.

Thursday, November 29, 2018

In the report published by the Central Bank of Costa Rica (BCCR) called the October-2018 Economic Situation Report, it is explained that the slow increase in credit, imports of final consumer goods and tax collection are clear indicators of a slowdown in domestic demand. See full report.

In addition to a slowdown in local demand, specialists in the matter estimate that the accelerated rise in the exchange rate that has registered in recent months the Colon against the Dollar, will generate a fall in the purchasing power of the currency which would impact on the import price.

See "Central America: Cell Phones Market Up to March 2018"

Regarding the scenario approaching, Juan Bernárdez, director of Strategy at White Rabbit - Saatchi & Saatchi, explained to Nacion.com that "... We can project that this recessive behavior will intensify. If we consider that the category 'mass use technology' in Costa Rica is a category that depends almost 100% on imports, we must assume that costs and prices (linked to the dollar) will increase because of devaluation, making it increasingly difficult to acquire goods in parallel to the dollar with salaries in colones.

You may be interested in "Laptops and Tablets: Market up to March, 2018"

Bernárdez adds that "... For example, if I must buy a computer because I need it right now, I'll probably look for one that solves the situation. But if I find one at a higher cost that provides me with more durability (or future), I probably won't buy it because I don't have the capital to ensure my future, I only have the capital to solve the present."

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