Argentine SMBs benefit from consumer incentive plan

An Argentine consumer incentive plan has helped boost the sales of 80,000 small- and medium-size businesses (SMBs), state news agency Telam reported Tuesday.

The plan, called Ahora 12, or Now 12, allows SMBs to offer customers the option of paying credit-card purchases in 12 monthly installments with no added interest, an option that only major retailers were able to offer in the past.

Argentine Chamber of Commerce President Carlos de la Vega said the plan "generated a notable increase in the sales of 80,000 small and medium-size businesses."

He described the plan as a success, and said he would ask Argentine Industry Minister Debora Giorgi to extend it after its deadline of March 1 expires.

"It's the first time that small and medium-size businesses have been given the option to make credit-card sales in 12 installments," he said, adding the plan allowed SMBs to compete on an equal footing with major retail chains.

Since it was launched on Sept. 13 and up to Jan. 30, the plan generated more than 4 million transactions and sales of over 7.65 billion pesos (889.3 million U.S. dollars).

The plan is valid Thursday through Sunday at some 100,000 stores around the country, covering eight categories of goods and services, from motorcycles and bicycles to furniture, clothing, shoes, household appliances, construction materials and tourism. Endit