A public bank will offer a 50% discount in supermarkets tomorrow

Amid a decline in retail consumption, down 4.2% in June, Banco Provincia announced on Wednesday the promotion of half-price purchases for its customers.

Se can obtain 50% reductions in operations in nearly 400 supermarkets in the city and province of Buenos Aires. The consumption ceiling for this promotion will be 3,000 pesos .

The benefit covers purchases made with credit and debit cards issued by the entity in food, fresh produce, non-alcoholic beverages, cleaning supplies and all care products said segments. It will be available the third and fourth Wednesday of each month and the saving method is by customer and account.

The discount can be used by those who hold credit and debit cards issued by the provincial public bank and will allow each customer to accumulate a discount of up to 1,500 pesos per month. The average amount of the purchase, as circulated by Bapro, was $ 1,800 with a debit card and $ 2,000 with a credit card last year.

Banco Provincia has announced the incorporation of 141 new branches of supermarkets Toledo, La Anónima, Cooperativa Obrera and La Amistad to the 50% discount promotion, which starts again tomorrow. They join the already attached premises of Coto and those belonging to the chain Cencosud (Jumbo, Disco and Plaza Vea).

BaPro President Juan Curutchet pointed out that " last year 900,000 of Buenos Aires adhered to this benefit and we want more and more people to choose the bank" . The head of the entity pointed out that it was a "big effort, but the bank is able to deal with it because during the first five months of the year, we have earned more than 4 billion pesos ".

The promotion, announced last week by the governor of Buenos Aires, Maria Eugenia Vidal, will have a reach of more than 4 million people.

The measure comes against a backdrop of declining retail sales. According to CAME data, in small and medium-sized enterprises saw a drop of 4.2% in June in June, compared to the same month last year, measured at constant prices, while accumulating an annual fall of 2.8% in the first half of the year

For its part, the latest data on private consumption show a sudden stop since May . According to consultant Kantar WorldPanel, in the first quarter of 2018, household consumption had been rising slowly. But then, in April and May, inflation and loss of income led to a reduction in consumption of these segments of the population, so that it decreased by 2%.

Another report marks a collapse of private consumption. The Mbad Consumption Survey Institute (Indecom), warned that "mbad product consumption has dropped 9% in the last two months due to the impact of the devaluation on prices and consumer behavior" .