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Credit is King

The expansion of credit has dramatically altered the consumer landscape in Latin America over the last decade. Going back a bit further, in 1990, fewer than 3 percent of Latin American households had a credit card.  By 2020, that figure will grow to 25 percent.  In Brazil, where credit has grown even more radically, consumer loans expanded eight fold from 2002 to 2012. Access to credit changes how consumers shop.  Credit enables people to buy larger ticket items that would otherwise be out of reach. When Mexico’s Telmex began offering Acer computer packages to its landline customers in 1998, it […]
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