Electrofest, the discount event organized by the home appliance and electronics industry, served to boost sales, in a context of sharp drop in consumption, after the new post-PASO devaluation.

The chains claim that they tripled and, in some cases, even quadrupled sales compared to the previous weeks, when they had registered very low activity, due to the rise in prices after the devaluation in the days following the primary elections, the loss of purchasing power and the uncertainty about the near political and economic future.

The event, which began on Monday and ends today (although some businesses plan to extend it until Sunday), thus served to boost turnover during the last days of a very low month in sales. Frávega, Garbarino, Ribeiro, Musimundo, Cetrogar, Megatone, Compumundo, Naldo, Hendel and Pardo offer promotions of up to 40%, although they mostly average 30%, and up to 12 and 18 fixed interest-free installments.

The companies highlighted that financing was essential, since a vast majority of sales (more than 80%) were made in 12 or 18 interest-free payments, thanks to the Now 12 and 18 Plan, at low rates.

In fact, the companies highlight that financing was essential, since a vast majority of sales (more than 80%) were made in 12 or 18 interest-free payments, thanks to the Now 12 and 18 Plan, at low rates.

From Frávega, Garbarino, Ribeiro and Cetrogar assured that, among the best-selling products, LED TVs, air conditioning units, washing machines, cell phones and some small appliances stand out, especially kitchen appliances.

"The month was going badly; the event helped make it close a little better, because sales increased a lot compared to the previous very bad weeks," commented a source from the sector.

This month would end similar in sales to September 2018, when they had fallen 32% year-on-year, after the dollar rose to $42 on August 31 of that year.

In the first half, sales of home appliances fell 33% in units; Prices, meanwhile, were adjusted by an average of 51%, due to the strong devaluation of 2018, according to the GfK consulting firm. And the post-STEP devaluation led to a new price adjustment.

cronista.com