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El impacto financiero en los consumidores colombianos de la pandemia del COVID-19La pandemia del COVID-19 está creando una nueva realidaden la medida en que su impacto se ha extendido a consumidores de todas las generaciones y niveles de ingresos.TransUnion está monitoreando los cambios de estos datosmensualmente y los estará compartiendo con ustedes.
2mes
Datos recogidos en la semana del
4 de mayo de 2020
AntecedentesLa actual pandemia mundial del COVID-19 está creando grandes dificultades económi-cas y financieras para los consumidores de todo el mundo. Muchos puestos de trabajo de la economía colombiana ya están siendo afectados o están en riesgo debido a los drásticos cambios en la demanda. Hemos realizado un estudio para comprender mejor cómo esta situación de rápida evolución está afectando su situación financiera y la consecuente capacidad para pagar sus obligaciones. Los hallazgos de este informe tienen como objetivo ayudarles a tomar decisiones informadas en un momento en que la información sobre el impacto en los consumidores aún está emergiendo. Esta-mos proporcionando este informe y recur-sos adicionales para que podamos unirnos para apoyar a las personas durante este difícil momento.Los hallazgos presentados a lo largo de este reporte son comparados con los resultados del mes anterior.
1 | © 2020 TransUnion LLC. All Rights Reserved.
Hallazgos Clave
El impacto financiero del COVID-19 en los hogares colombia-nos continúa siendo significativo. Más de ocho de cada diez colombianos (83%) dicen que los ingresos de sus hogares se han visto afectados negativamente, mientras que otro 10% espera o no está seguro de que se verán afectados en el futuro (este resultado no ha cambiado respecto al primer mes de la encuesta, que se realizó durante la semana del 13 de abril de 2020).
Los consumidores en los sectores de actividad económica más vulnerables están sintiendo el mayor impacto en sus ingresos. En particular, más del 85% de los consumidores empleados en el comercio minorista, entretenimiento, restaurantes y servicios de comida, hoteles y alojamiento y la industria manufacturera indicaron impacto negativo.
Los consumidores que están empleados en pequeñas empresas (menos de 10 trabajadores) son los más afectados por el COVID-19 con un 90% que indica un impacto negativo.
Un porcentaje menor de personas están preocupadas por su capacidad de pagar obligaciones (80%, frente a 83% en el mes anterior), y el 34% de ellos esperan tener un déficit en menos de 1 mes.
Un mayor porcentaje de consumidores con impacto financiero está considerando opciones estratégicas para continuar realizando pagos (83%, frente al 80% en abril). El crédito parece ser clave para permitir esto, ya que cada vez más consumidores indican estar evaluando la refinan-ciación de sus pagos, la consolidación de préstamos y el uso de períodos de gracia y otros programas de alivios ofrecidos por las entidades.
Metodología de la investigación
¿CUÁL ES LA MAGNITUD Y EL TIPO DE IMPACTO?
Impacto financiero
Esta encuesta en línea, realizada a 1.100 adultos en Colombia, fue realizada durante la semana del 4 de mayo de 2020 por TransUnion en asociación con el proveedor de investigación Qual-trics® Research Services. Adultos de 18 años y mayores residentes en Colombia fueron encuestados utilizando un método de panel de investigación en línea a través de una combina-ción de computadores, dispositivos móviles y tabletas. Las preguntas de la encuesta se admi-nistraron en español. Para garantizar la representatividad de la muestra de la población general en toda la demografía residente en Colombia, la encuesta incluyó cuotas para equilibrar las respuestas a las estadísticas del censo sobre las dimensiones de edad, género, ingresos familia-res y región. Los resultados de la investigación no están ponderados y son estadísticamente significativos con un nivel de confianza del 95% dentro de ±2,95 puntos porcentuales basados en el margen de error calculado.
El impacto financiero del COVID-19 en los hogares colombianos continúa siendo significa-tivo. Más de ocho de cada diez colombianos (83%) dicen que los ingresos de sus hogares se han visto afectados negativamente, mientras que otro 10% espera o no está seguro de que se verán afectados en el futuro (este resultado no ha cambiado respecto al primer mes de la encuesta, que se realizó durante la semana del 13 de abril de 2020).Si bien es mayor en consumidores de menores ingresos, el impacto financiero del CO-VID-19 ha sido generalizado en todos los niveles de ingresos.Los consumidores en los sectores de actividad económica más vulnerables están sintien-do el mayor impacto en sus ingresos. En particular, más del 85% de los consumidores que están empleados en el comercio minorista, entretenimiento, restaurantes y servicios de comida, hoteles y alojamiento y la industria manufacturera indicaron un impacto negativo. Los consumidores que están empleados en pequeñas empresas (menos de 10 empleados) son los más afectados por el COVID-19 con un 90% que indica un impacto negativo.El 37% de los adultos afectados señala que sus horas de trabajo fueron reducidas (en comparación con el 33% en abril) y el 24% reportó haber perdido su empleo (en compara-ción con el 21% en abril). La encuesta también encontró que el 20% dijo ser dueño de una pequeña empresa que tuvo que cerrar o que ha visto reducidas sus ventas de forma signi-ficativa como resultado de las restricciones del COVID-19 (menor al 23% en abril).
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19 Mayo de 2020
•
•
•
•
•
Figura 1. Impacto percibido
Porcentaje de consumidores que indicaron que sus ingresos familiares se han visto afectados.
83%Cambio
mensual
0%
Figura 2. ¿Espera ser impactado en el futuro?
Sí
4%
0
2
4
6
8
10
6%
7%
NoNo está seguro
Mayo de 2020
2 © 2020 TransUnion LLC. All Rights Reserved.
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19
Figura 3. ¿Cómo se ven afectados los ingresos actuales de su hogar?
Soy dueño de un pequeño negocio y tuve que cerrar y/o los pedidos se han agotado.
He perdido mi trabajo.
Yo/nosotros dependíamos de un trabajo a tiempo parcial para complementar los ingresos del hogar.
Mi pareja ha perdido su trabajo y/o ha reducido las horas de trabajo.
Mis horas de trabajo se han reducido.
Otros
20%
24%
24%
26%
10%
37%
3%
3%
6%
2%
4%
2%
¿CUÁL SERÁ EL IMPACTO SOBRE EL PAGO DE OBLIGACIONES?
Obligaciones
Un menor porcentaje de consumidores están preocupados por su capacidad para pagar obligaciones (80%, versus 83% en el mes anterior), y un 34% de ellos esperan tener un déficit en menos de 1 mes. Este tiempo no ha cambiado en relación con el mes anterior.
Entre las obligaciones financieras que preocupan a los consumidores, los servicios públi-cos siguen siendo las que con mayor frecuencia indican que no podrán pagar, con el 49%. A estos les siguen las tarjetas de crédito, créditos personales, teléfonos móviles y pagos de alquiler (40%, 38%, 36% y 36%, respectivamente).
El porcentaje de consumidores que indica que no podrán pagar su alquiler o su crédito de vivienda disminuyó en mayo con respecto a abril, de 56% a 50%. Para Millennials y Gen X, este número es mayor (53%, frente al 63% en abril para Millennials y 52% para Gen X).
El déficit promedio que los encuestados indican al momento de pagar sus obligaciones aumentó entre las dos encuestas, de 976.700 COP a 1.005.043 COP.
•
•
•
•
¿Cuándo no podrá pagar? Los consumidores afectados esperan nopoder pagar sus obligaciones en 7,6 semanas.
En promedio, la cantidad en que los consumidores que fueron afectados esperan quedarse cortos al pagar sus obligaciones es:
COP 1.005.043
Figura 5. ¿Le preocupa su capacidadpara pagar sus obligaciones actuales?
Sí
90%
0
2
4
6
8
10
10%
No
Mayo de 2020
Figura 4. ¿Cuánto es su déficit presupuestal?
3 © 2020 TransUnion LLC. All Rights Reserved.
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19
COSTA CARIBE
COSTA PACÍFICA
SÍ
SÍ
SÍ
SÍ
SÍ
SÍ
*
Nota: Tamaño pequeño de la muestra (n<50)
SÍ
Figura 6. Nivel regional de preocupación respecto a la capacidad de pago de obligaciones
Figura 7. ¿Qué obligaciones le preocupan en términos de su capacidad de pago?
Porcentaje de consumidores de cada generación que podrá pagar cada obligación
3%
7%
5%
2%
0%
5%
2%92%
88
93
89
91
85
Mayo de 2020
Servicios públicos
En general Generación Z Millennials Generación X Baby Boomers
Tarjeta de créditoInternet
Crédito personalArriendo
Teléfono móvilSeguro
Crédito de vehículoCrédito de viviendaCrédito educativoFacturas médicasCrédito comercial
Cuenta con tienda de ropa/ventas al por menor
Otro
* Los totales por generación pueden sumar más de 100% dado que cada persona puede elegir más de una opción
4 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
2 %
1 %
3 %
5 %
6%
1 %
1 %
9%
3%
3%
1 %
0%
0%
Figure 7. What bills and loans are you concerned about your ability to pay?
49% 47% 48% 52% 50%
40% 29% 43% 46% 58%
39% 43% 38% 36% 31%
38% 35% 40%
38%
39% 42%
36% 34%
38% 32%
35%
41%
31%
36%
17% 16% 16% 18% 19%
36%
15% 15% 15%
11%
11% 17%
14% 11% 15% 18% 6%
13% 17% 11% 13% 8%
8%
5%
6%
9%
8%
3%
8%
3%
8%
7%
7%
3%
11% 9% 11% 16% 17%
17%
0%
Car payment
Credit card
Insurance
Medical bill(s)
Mortgage payment
Other
Business loanAccount with retail/
clothing store
Personal loan
Rent payment
Student loan
Utilities
Mobile phone bill
Gen ZOverall Millennials Gen X Baby Boomers
Internet N/A
Figure 6. Regional level of concern regarding ability to pay bill(s)/loan(s)
*
*Note: small base size (n<50)
89%YES
*5%
93%YES
*7%
91%YES
*2%
93%YES
*0%
92%YES
*2%
88%YES
*3%
*
85%YES
*5%
4 © 2020 TransUnion LLC. All Rights Reserved.
Figura 8. ¿Qué ha cambiado en su presupuesto familiar durante la pandemia del COVID-19?
Figura 9. ¿Cuál es su plan para ayudar a pagar sus obligaciones actuales?
En general Generación Z Millennials
Millennials
Generación X Baby Boomers
En general Generación Z Generación X Baby Boomers
Redujo gastos discrecionalesCanceló suscripciones o membresías
Canceló o redujo servicios digitalesHizo una mayor utilización del crédito disponible
Ahorró más en el fondo de emergenciaEmpezó a trabajar en un nuevo empleo
Redujo los ahorros de la pensiónUsó los ahorros de la jubilación
Recibió beneficios de desempleo
Recibió una indemnización por despidoOtro
No ha cambiado nada
Usar el dinero de los ahorros
Refinanciar o renegociar los pagos/tasasactuales con mi institución financiera
Cancelar una cantidad parcialque puedo pagar, pero no todo el saldo
Pedir prestado dinero a un amigo o familiar
No sé cómo voy a pagar mis cuentas/préstamos
Solicitar un préstamo personal
Usar tarjetas de crédito/transferencias de saldo
Abrir nueva(s) tarjeta(s) de crédito
Otro
* Los totales por generación pueden sumar más de 100% dado que cada persona puede elegir más de una opción
* Los totales por generación pueden sumar más de 100% dado que cada persona puede elegir más de una opción
¿CÚAL ES SU PLAN?
Próximos Pasos
Un mayor porcentaje de consumidores con impacto financiero está considerando opciones estratégicas para poder continuar realizando pagos (83%, frente al 80% en abril). El crédito parece ser clave para permitir esto, ya que el 36% de los consumidores indican que refinanciarán sus pagos actuales con su proveedor de servicios financieros, el 33% dijo que pagará una cantidad parcial y el 16% que pedirá un nuevo crédito. Además, los consumidores planean hacer frente a sus déficits utilizando los períodos de gracia y programas de alivio ofrecidos por las entidades (13%) y sus tarjetas de crédito existentes (10%).
Los consumidores continúan siendo proactivos, con un 60% que indica que se han comunicado con las entidades con las que tienen cuentas para analizar las opciones de pago. Además, las entidades están creando conciencia sobre las opciones de pago, ya que el 67% de los consumidores informan haber recibido algún tipo de orientación al respecto.
Muchos consumidores indicaron estar retrasando compras importantes, lo que podría ayudar en parte a mitigar el impacto económico negativo del COVID-19. En particular, el 26% de todos los encuestados dijeron que estaban retrasando la compra de una vivienda (frente al 21% en abril) y el 22% retrasaron la compra de un automóvil (frente al 18% en abril).
Al mismo tiempo, los consumidores han comenzado a cambiar sus patrones de gasto para hacer frente al impacto negativo en los ingresos del hogar. El 60% indicó que ha reducido el gasto discrecional (por ejemplo, comer fuera, entretenimiento), mientras que el 32% ha cancelado membresía o suscripciones.
•
•
•
•
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19 Mayo de 2020
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
Utilizar períodos de gracia y otros alivios proporcionados por las entidades con las que tengo obligaciones
Presentar mi declaración de impuestos rápidamente, ya que me deben un reembolso de impuestos
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
5 © 2020 TransUnion LLC. All Rights Reserved.
Millennials
Vacaciones
Mejoras en la casaGasto en educación
Compra de vivienda
Compra de carro
Tener hijos
Casarse
Generación Z
SI NO
Generación X Baby Boomers
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19 Mayo de 2020
Figura 10. ¿Se ha puesto en contacto con las empresas con las que tiene obligaciones para discutir las opciones de pago?
10
20
40
60
80
51% 49%
63%
37%
65%
35%
65%
35%
* Los totales por generación pueden sumar más de 100% dado que cada persona puede elegir más de una opción
Figura 11. ¿Está posponiendo alguna de las siguientes compras importantes?
MillennialsEn general Generación Z Generación X Baby Boomers
6 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 11. Are you delaying any of the following major purchases or events?
50% 42%
42%
39%
22%
5%
7%
19%
56%
50%
33%
30%
24%
12%
7%
49%
48%
25%
26%
24%
3%
3%
50%
46%
28%
17%
17%
2%
2%
47%
33%
26%
22%
8%
6%
Home Improvement
Home Purchase
Auto Purchase
Spending on Education
Wedding
Having Children
Vacation
Gen Z Millennnials Gen X Baby BoomersOverall
Figure 10. Have you reached out to companies you have accounts with to discuss payment options?
0
20
40
60
80
Gen Z
51% 49%
37% 35%
65%63% 65%
35%
Millennials Gen X BabyBoomers
Yes No
Other Key Insights
→ Communication between lenders and consumers is highly important, as fraudsters are looking to take advantage of the pandemic. In week two, 21% of Colombian consumers were targeted by fraud schemes related to COVID-19.
La comunicación entre entidades y consumidores es hoy más importante que nunca, ya que los estafadores buscan aprovechar la pandemia. En mayo, el 21% de los consumidores colombianos fueron víctimas de esquemas de fraude relacionados con el COVID-19.
5 | © 2020 TransUnion LLC. All Rights Reserved.
The COVID-19 Pandemic’s Financial Impact on Consumers 13 May 2020
Figure 8. What has changed in your household budget during the COVID-19 pandemic?
60% 48%
30%
26%
20%
20%
10%
6%
8%
6%
5%
9%
6%
64%
34%
27%
23%
19%
10%
13%
8%
9%
4%
3%
4%
71%
30%
26%
21%
16%
10%
13%
10%
8%
8%
5%
2%
32%
26%
22%
19%
10%
10%
8%
7%
6%
5%
4%
Gen Z Millennnials Gen X Baby Boomers
67%
28%
21%
26%
23%
8%
8%
10%
0%
13%
3%
5%
Overall
Canceled or reduced digital services
Received unemployment benefits
Used retirement savings
Other
Increased usage of available credit
Canceled subscriptions or memberships
Nothing has changed
Saved more in emergency fund
Received severance
Started a new job
Cut back on saving for retirement
Cut back on discretionary spending
NEXT ACTION
WHAT IS YOUR GAME PLAN?
• A greater percentage of financially impacted consumers are considering use of strategic options that will enable them to continue to make payments (83%, up from 80% in week one). Credit seems to be driving this trend, as 36% of consumers indicated they would refinance their current payments with their financial service provider, 33% said they would pay a partial amount and 16% said they would take out a new loan. Additionally, consumers are planning to pay their shortfalls using payment holidays and other reliefs provided by lenders (13%) and using their existing credit cards (10%).
• Consumers continue to be proactive, with 60% indicating they have reached out to companies they have accounts with to discuss payment options. Also, lenders are raising awareness of payment options, as 67% of consumers report having received some type of guidance on this respect.
• Many consumers are delaying major purchases, which could partly help mitigate the negative economic impact of COVID-19. In particular, 26% of all respondents said they were delaying the purchase of a home (up from 21% in week one) and 22% were delaying the purchase of a car (up from 18% in week one).
• At the same time, consumers have begun changing their spending patterns to better cope with the negative household income shock. Sixty percent of impacted consumers indicated they have cut back on discretionary spending (e.g. eating out, entertainment) while 32% have canceled membership or subscriptions.
Figure 9. What is your plan to help pay your current bill(s) or loans?
36% 47%
23%
28%
35%
15%
17%
10%
9%
5%
2%
3%
33%
39%
36%
23%
18%
16%
13%
11%
3%
5%
3%
30%
44%
36%
25%
17%
13%
19%
10%
2%
5%
3%
36%
33%
27%
17%
16%
13%
10%
4%
4%
3%
Gen Z Millennnials Gen X Baby Boomers
25%
47%
31%
14%
22%
22%
11%
17%
3%
6%
6%
0%
0%
1 %
2 %
2 %
5 %
1 %
3 %
4%
3 %
2 %
Overall
Use credit card(s)/balance transfer(s)
Use the payment holiday or other accommodations provided by billand loan providers
Take out personal loan(s)
Refinance or renegotiate current payments/rates with myfinancial institution
Borrow money from a friend or family member
File my tax refund quickly as I am due a tax refund
I do not know how I am going to pay my bills/loans
Open new credit card(s)
Other
Use money from savings
Pay a partial amount that I can afford - but not the whole balance
Otros Hallazgos Importantes
6 © 2020 TransUnion LLC. All Rights Reserved.
MillennialsGeneración Z Generación X Baby Boomers
Figura 12. ¿Qué afirmación describe mejor su experiencia personal con cualquier intento de fraude digital relacionado con el COVID-19?
Figura 13a. Retraso en procedimientos médicos
Figura 13b. ¿Con qué urgencia planea reprogramarsu cirugía electiva, cita o procedimiento médico?
10
44%
23%
17%
6%
5%
5%
40
60
80
100
5%
17%
78%
2%
20%
78%
2%13%
86%
4% 13%
83%
Si esta información le ha sido de utilidad y desea conocer más, regrese para el informe del próximo mes y visite nuestro sitio web del Estudio de dificultades financieras del consumidor de Colombia. En TransUnion estamos comprometidos a continuar proporcionándole las actualizaciones, herramientas y recursos necesarios para poder comprender esta situación en constante evolución.
Para más información, por favor contacte a su Gerente de Cuenta de TransUnion.
El impacto financiero en los consumidores colombianos de la pandemia del COVID-19 Mayo de 2020
Actué en un esquema de fraudey ahora soy una víctima de ello
He sido blanco de un esquemade fraude pero no he sidovíctima de él
No tengo conocimiento de ningúnplan de fraude dirigido hacia mí
27%
Porcentaje de consumidores que han tenido una cirugía electiva, cita médica o procedimiento retrasado o cancelado debido al COVID-19.
Planeo reprogramar la cita tan pronto como mi médico me lo permita.
Planeo reprogramar una vez se den las directrices de que es seguro hacerlo.
Planeo reprogramar una vez que ya no crea que hay un alto riesgo de infección por COVID-19 al hacerlo.
No sé si lo reprogramaré, independientemente del COVID-19.
No lo reprogramaré, pero buscaré opciones de tratamientos alternativos.
No cambiaré la fecha y no buscaré opciones de tratamientos alternativos.
CONTINÚE INFORMÁNDOSE
6 © 2020 TransUnion LLC. All Rights Reserved.
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