Riding the Consumer Boom

As economies grow, interest rates come down and everyone from banks to retailers and government entities extend credit to more people in the lower income brackets, Elizalde's story is being repeated throughout the region. And the beneficiaries are numerous. While the ability to purchase big-tic...

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Bibliographic Details
Published in:LatinFinance 2006-06, p.1
Main Author: Guthrie, Amy
Format: Article
Language:English
Subjects:
Banks
Branch banking
Brand loyalty
Business community
Consumer credit
Consumers
Credit cards
Economic growth
GDP
Gross Domestic Product
Impact analysis
Interest rates
Loans
Mortgages
Retail stores
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Summary:As economies grow, interest rates come down and everyone from banks to retailers and government entities extend credit to more people in the lower income brackets, Elizalde's story is being repeated throughout the region. And the beneficiaries are numerous. While the ability to purchase big-ticket items like cars and houses can be life changing - as well as a good campaign plug for politicians riding the wave - beverage makers, bakers and even cement companies are picking up steam thanks to an increase in disposable income. The United Nation's Economic Commission for Latin America and the Caribbean estimates that the region's economies will grow, on average, by 4.5% this year, in line with their 2005 progress. What's more, the expansion has been chugging along for a number of years now, fueled by high commodity prices, so consumers have moved on from buying a few extra soft drinks to straight up splurging.
ISSN:1048-535X