54% of Brazilians would like to change their cell phone this year, but high prices are among the main obstacles
Summary
The mobile phone market returned to growth in 2024 after 3 years of economic uncertainty, driven by consortia and surveys on purchasing intentions.
The mobile phone market has grown again this year after 3 years of economic uncertainty that affected consumer interest in a new device. After a 4% decline in 2023, the market is expected to grow 3% this year and return to its growth path, according to Counterpoint Research.
A recent GfK survey found that 54% of Brazilians would like to change their cell phone in 2024. A survey by Hibou, a market research and analysis company, showed that the high prices of the latest models have influenced approximately 36% of consumers to change their cell phone less frequently.
In this scenario, consortia have emerged as an alternative for the purchase of mobile phones since they offer good financial planning conditions for consumers. According to data from the latest ABAC survey, the number of awards in electronics consortia increased by 16.5% compared to last year and the volume of credits made available increased by 57.1%, reaching R$ 138.6 million.
According to Eduardo Rocha, CEO of Klubi, the largest electronics consortium in the country, “in Brazil everyone has a cell phone, but many people have difficulty getting the credit needed to have a good device. That is why we created the product we called Planned Purchase, which offers the possibility of purchasing a smartphone within a maximum period of 24 months, and from the 6th monthly payment there is the possibility of redeeming 100% of the credit. Acquiring a good is a much more convenient and short-term investment,” explains the executive.
Klubi is a fintech authorized by the Central Bank to operate with consortia in the country and launched Compra Planjada a year ago. “We are seeing a huge increase in the search for this modality, which works like a consortium, but has the advantage of the predictability of receiving credit from the moment of joining,” concludes Rocha.
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Source: Terra
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