The arrival of the mid-year service bonus boosts consumption but Colombians are choosing to finance purchases to preserve liquidity. Superfinanciera data shows only 35.5% access formal credit even though nine out of ten adults hold financial products.
Direct financing with merchants gains ground during the mid-year service bonus payment. This option reduces friction and lets consumers spread payments over time.
Daniel Garzón, CEO of Creditop, noted that people are more strategic with extra resources. “Many people prefer to conserve part of their liquidity to meet other commitments during the second half of the year and finance those purchases that can be spread over time in a responsible manner,” he explained.
Merchants benefit: sales can grow up to 40% and the average ticket up to 50%. The most favored sectors are technology, tourism, education, health and home.