One day before Christmas Eve, a customer at a jewelry store located in an upstate mall intended to purchase a silver chain with a modest pendant for $23,000. When the sales assistant clarified that payment in cash, the price dropped to $18,400, looked surprised and promised to return after visiting the nearest ATM. Scenes like this have been repeated – in the last few hours – in most commercial circuits.
It happens that the ritual of purchasing Christmas presents has made visible among merchants a behavior that recently – with the massification of digital payment methods – was not a common practice. It’s about the strong “discounts for cash payment”.
A stimulus adopted by Commerce to avoid losing sales volume in the midst of a total price liberation in the economy that has not occurred in the last 22 years and which today risks worsening consumption. Those “discounts” applied by traders in the last few hours, They had an average of 20% and in some cases they reached up to 30% of the value indicated on the products.
While it is a common practice this time of year to capture buyers’ cash (with salary and bonuses), lCash discounts may continue to be implemented forward in the face of the new rules decreed by Javier Milei’s Government. Between them, the cancellation of the commission ceiling What businesses charge when they accept plastic as a form of payment.
Until now, card issuers They couldn’t charge businesses rates higher than 3% as a fee for credit transactions e 1.5% for those made by debit. Now, without going through the Legislative Power, the DNU has canceled the existing limits and established only that “the issuing body must necessarily make the financing rate applied to the credit card system known to the public”. This could increase the cost of plastic refilling for businesses and it would explain, in some way, why merchants prefer to receive cash.
When questioned on the issue, Alfredo Gonzalez, president of the Chamber of Medium-sized Enterprises (CAME), stressed that discounts for cash payments “are normal these days to take advantage of people’s available money”, he warns. “On the other hand The decline in sales also contributes to more promotions “, He says.
According to the manager, one factor that can currently influence consumer behavior is the lowering of the rates of the Ahora 12 program because it is linked to the reference rate of the Central Bank (BCRA). This rate went from 11% monthly to 9%. That «Until January 31st, declining sales will slow down a bit».Gonzalez said.
According to a recent CAME survey which brings together retail businesses, the Christmas sales showed an average decline of 2.8% compared to last Christmas. The same report highlights that “in an effort to stimulate sales, many companies have implemented strategies such as offering Interest-free installments and attractive discounts.
It turns out that any stimulus is insufficient in the face of inflation that grew at a rate of 160.9% annually through November and spiraled out of control in December, when it is expected to rise 30% month-on-month. According to CAME records, The average spend per holiday purchase was $25,860.
A recent survey conducted by the Public Opinion Center of the University of Belgrano revealed that people’s main fear is about his personal economy, is “not being able to meet monthly commitments, followed by the increase in the cost of services”.
When asked if merchants feel uncertain about the measures announced in the recent decree of Necessity and Urgency (DNU) such as the cancellation of the cap on plastic commissions, the president of CAME replies: “Of course. This is a danger. It’s a camera fight from many years ago. We managed to lower by law the 10% that was previously charged to 5% also on debts, up to the percentage we currently have,” he recalled.
In another chamber which also brings together the commercial sector, they underlined that “today everyone The strategies are good for enticing customers to pay with cash. Because the tax burden is very high and we have little margin and little sales volume,” he complained.
Source: Clarin
