Peru | Real-time analysis of the impact of COVID-19 on consumption (up to March 29)

Summary

In March, total card consumption grew 86.3% YoY, this is explained by a low comparison base (in the second half of March 2020, mobility restrictions began due to the beginning of the pandemic).

Key points

• Key points:
• Compared to the same month of 2019, in March, total card purchases were 31% higher (see slide 3). In addition, there was a moderation in the share of on-line card purchases, while food and health expenses continue to show a strong expansion.
• In March, the total amount of cash withdrawals also showed a significant YoY increase.
• BBVA Research's consumption indicator shows that in the first quarter of 2021, consumption would have continued the improvement seen in the fourth quarter of 2020.

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