The Now 12 program -and its variants- will be available every day of the week. The official intention is to boost consumption with more than 200 commercial chains that already offer interest-free installments, and thus boost the economy months before the elections.

The Secretary of Domestic Trade, Ignacio Werner, reported today that the resolution with this novelty was signed this afternoon and that tomorrow it will be published in the Official Gazette. In this way, the program created by Axel Kicillof and maintained by the management of President Mauricio Macri will no longer only be available from Thursday to Sunday (as it was until now), but also on Monday, Tuesday and Wednesday. This will last from tomorrow until December 31.

Since the beginning of this month, the Government announced - after an agreement with the banks - a 25-point drop in the interest rate of the Now 12 program (which includes the 3, 6 and 18 installments). A week later it reported that more than 200 chains had already joined an optional idea, mentioned with the first announcement, of offering interest-free installments. In the latter case, the financing cost would be absorbed by businesses in negotiation with the industry.

Starting tomorrow, the Now 12 program - and its variants - will be available every day of the week. The official intention is to boost consumption with more than 200 commercial chains that already offer interest-free installments, and thus boost the economy months before the elections.

The Secretary of Domestic Trade, Ignacio Werner, reported today that the resolution with this novelty was signed this afternoon and that tomorrow it will be published in the Official Gazette. In this way, the program created by Axel Kicillof and maintained by the management of President Mauricio Macri will no longer only be available from Thursday to Sunday (as it was until now), but also on Monday, Tuesday and Wednesday. This will last from tomorrow until December 31.

Since the beginning of this month, the Government announced - after an agreement with the banks - a 25-point drop in the interest rate of the Now 12 program (which includes the 3, 6 and 18 installments). A week later it reported that more than 200 chains had already joined an optional idea, mentioned with the first announcement, of offering interest-free installments. In the latter case, the financing cost would be absorbed by businesses in negotiation with the industry.
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The Government expected to double the turnover of Ahora 12 in the first months. In the months prior to the announcement it was $7,000 million. But, according to Werner, already in June (first month) they will achieve the goal of exceeding $14,000 million. However, the secretary did not yet want to announce a number until the first 30 days have been closed.

Other news, reported in a meeting with the press in Internal Trade, is that a new item will be added to the official program. These are small appliances (electric kettles, blenders, food processors, mixers and toasters, among others).

In addition, mattresses, televisions and small appliances can be purchased in participating general stores (large supermarkets). Until now, only cell phones, computers and white goods could be purchased in these stores.

On the other hand, they reported, the sales limit for glasses will be doubled (from the current $5,000 to $10,000) and for motorcycles (from $80,000 to $120,000). And the perfumery category (cosmetics products, personal care, and national perfumes) will be added.

When asked by LA NACION, Werner said that the program is a “palliative” in times of high rates to lower inflation and pointed out that it is likely that there will be an extension (also for Essential Products) after December 31. He thus sought to clear up doubts about whether the program is purely proselytizing or whether it is sustainable over time.

“The effect of lowering rates on the volume of consumption was very important,” said the Secretary of State. “The expectation was to double the program's billing in the first months, but we are seeing that this is going to happen already in the first month,” Werner added.

"There is very good reception and very good results in all areas. It will have an impact on consumption data," said the official, who indicated that the improvement will occur thanks to the possibility of financing purchases, but also to stability and the closing of joint ventures. He also noted that more businesses were joining the possibility of giving interest-free installments. It is not a minor fact after Indec reported today on new falls in consumption in April.

“There is a big difference in sales on Mondays, Tuesdays and Wednesdays compared to what happens from Thursday to Sunday,” said a manager of one of the most important appliance retail chains in the country. “Without Now 12, 30% less sales are made,” he said, adding that the program generated a change and consumers enter the stores more, mainly interested in white goods and cell phones.

"With the extension of the Ahora 12 program from Monday to Sunday, Frávega will offer interest-free installments every day. It is a measure that will enhance the growth that we are observing this month," Manuel Sánchez Gómez, general director of the chain, told LA NACION.

“It was necessary news to bring peace of mind and predictability to the consumer, and it is an indispensable tool for the merchant,” said the president of the Argentine Chamber of Medium Enterprises (CAME), Gerardo Díaz Beltrán, in a statement.

Among the large chains that have already begun to offer interest-free installments are Frávega, Garbarino, Cetrogar, Musimundo, Ribeiro, Personal, Claro, Movistar, Rodó, Sodimac, Easy, 47 Street, Mimo, Ayres, Baby Cottons, Cheeky, Lacoste, Giesso, Jazmín Chebar, Awada, Las Pepas, Prüne, Rapsodia, Trosman, Vitamina, La Cardeuse, Simmons, Giro Didáctico, Cebra, among many other household appliance and telephone companies; clothing, footwear and leather goods; furniture and mattresses; toys ; motorcycles and tourism. The complete list can be found at www.argentina.gob/ahora-12.

According to data at the beginning of the month released by Internal Trade, if financing does not reach 0% thanks to commerce absorbing the difference, the official floor is as follows: the three installments will have an Annual Nominal Rate (TNA) of 15.33% and 20.30% of Total Financial Cost (CFT); the six, 17.19% (23.11% of CFT); twelve, 18.39% (25% of CFT); and the eighteen, 18.78% (25.89% of CFT). Currently, outside of the Ahora 12 program and its variants, rates exceed 80%, a priceless value for the consumer.

Within the official program Now 12 and 18 there are televisions, appliances (air conditioners, dishwashers, washing machines and dryers; kitchens, ovens and stoves; heaters and stoves; water heaters and calcafoles; refrigerators, freezers and freezers); cell phones; computers, notebooks, and tablets; construction material; national tourism; bookshop; glasses; musical instruments; tires, accessories and spare parts for cars; mattresses; motorcycles and bicycles. And, both in the first ones and in Now 3 and Now 6, clothing, footwear and leather goods are also added; furniture; books; toys; and lighting fixtures.
By: Francisco Jueguen / La Nación