Peru | Real-time analysis of the impact of COVID-19 on consumption (up to January 25)

Summary

In January, total card consumption grew 23,7% MoM (22,2% in December 2020). The share of online purchases with cards continues to increase and its dynamism has propped the recovery of spending.

Key points

• Key points:
• Since the beginning of January, spending in drugstores accelerated sharply (coinciding with the strong increase in COVID-19 infections). Food expenditures also continued to show strong year-on-year growth.
• On the other hand, expenditures related to accommodation, tickets and excursions, as well as transport, restaurants, and fashion and beauty showed a decline in recent weeks.
• The total amount of cash withdrawals was slightly below the previous year's level, while the average amount increased in recent weeks.
• The new mandatory lockdown measures that will be in place from 31 January 2021 will slow down the recovery of spending in the first quarter of 2021.

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