Now 30 had a slow start. From the chains they assure that in its first week of validity, the program that allows you to buy TVs, air conditioning, cell phones, refrigerators and washing machines in 30 fixed installments at discounted rates, Fewer transactions completed than expected and “do not reach 10% of total sales volume,” they complain in the industry.
Now 30 was launched last Monday. This is a plan aimed at stimulating the consumption of durable goods and was articulated through an agreement between producers, businesses, supermarkets and banks. Like this, a list of 273 products was formed, which have a coupon cap of $ 120,000 for mobile phones and $ 200,000 for the rest of the categories.
According to many of the companies participating in the program, in these first days, the demand is below expectations, especially in mobile phoneswhich “represent only 5% of total sales with Now 30”, a chain manager confided to Clarín.
As expected, the main players are TVs and air conditioners (with a share of 30% respectively) and the remaining 25% is divided between refrigerators and washing machines. “The program works well, but in total billing it still doesn’t have much weight,” added the same source.
Despite the mid-car start, companies say it is still too early to draw conclusions and who prefer to wait a few weeks to draw conclusions. In any case, they admit that they expect a better response from people considering the duration of the loan and the low cost of credit.
“The expectations were good because the rate is well below inflation, but not everyone understands it”They cry in chains. The Now 30 rate is 48%, an amount that reaches half the financing rate that the financial system offers today for the payment of credit card statements, or 83% of the Annual Effective Rate (TEA).
Companies are expecting a recovery in sales as Now 30 will be in effect during Cyber Monday, an event organized by the Argentine Chamber of Electronic Commerce (CACE) and which started on Monday and ends this Wednesday. “We will see if the trend will change during this week “, indicated an executive of a specialized chain.
Da Frávega refused to comment on this note. From there they slip “We don’t release numbers from Now 30 until Cyber Monday is over”. Among the supermarkets participating in the program, they have the same perception: “Sales are slow”they said.
From the industry they say that there is still a lot of ignorance about the credit line and that “people get scared when they hear the total amount to pay and leave the loan in the background in 30 fixed installments in a context of high funding”, they emphasize. They also mention the low limit on credit cards.
Source: Clarin
