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Consumption with credit and debit cards grows in November

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The BBVA Research Big Data Consumer Indicator specified that, so far this month, the average year-on-year increase in spending on services continues to greatly exceed that on goods (41.2% versus -8.8% respectively, in terms of real).

At the beginning of November, during the Cybermonday offers, “there was a rebound in consumption compared to 2020”, but then spending with cards remained “with very low dynamism.”

The items most benefited by these promotions were those related to tourism, clothing and equipment for the home, indicated the survey released today.

The Spanish capital bank pointed out that, comparing in constant pesos with the pre-pandemic level, the Travel category doubled expenses, while Home recorded consumption peaks 108% higher.

In turn, sales of Fashion and Other services grew by around 80%, while more postponed items, such as Care and Beauty, “momentarily returned to the figures of January-February 2020.”

According to the report, the economic improvement and the increase in bankarization precipitated by the pandemic “have their correlation in the number of transactions carried out with our clients’ cards, which is higher than the records of 2019 and 2020.”

Source From: Ambito

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