Liquidity in the market is drying up

The number of consumers seeking arrangements for various debts has soared during the pandemic, according to a survey by Wemetrix. Debtors are seeking to settle arrears for the payment of services such as utility bills, as well as to secure favorable payment plans for the acquisition mostly of homeware and domestic appliances.

The research covered specialized online stores from March 2020 to January 2021, and found that requests to pay for washing machines and refrigerators in installments averaged five per day before the pandemic, while during the summer that figure jumped to 25 a day. That only concerns tranche programs by major retailers, and not programs that banks offer via credit cards.

Given that banks approve about one in every five credit requests, Wemetrix estimates that the durable goods trade, among others, will face serious liquidity difficulties in the...