National Holidays: 20% more mypes will request credits this 2023

As every year, entrepreneurs get ready to get the most out of their businesses in campaigns like National Holidays. “We hope that this year 20% more mypes request loans to supply their businesses”says Liliana Lescano, head of products at Caja Piura.

According to data from the microfinance institution, clients mypes (micro and small businesses) request, on average, between S/10,000 and S/20,000 during this season to respond to demand. “These dates coincide with the payment of the gratuity, so people will be more willing to shop and travel,” adds Lescano.

Last year, people who applied for a loan to increase their stock of products by National Holidays they opted for a payment term of 12 to 19 months, a period slightly longer than previous years, due to the need to capitalize their earnings and strengthen their assets, details the specialist.

Mypes invest, on average, between 20% and 40% of your monthly budget for the acquisition and replacement of merchandiseaccording to the Lima Chamber of Commerce (CCL).

In 2022, the sectors that represented more than 50% growth in July were entertainment (amusement parks, circuses, and clubs), along with hotels and restaurants.

How to boost my sales on National Holidays?

Here we leave you some suggestions to boost the sales of your business in campaign of National Holidaysaccording to Lescano.

• Offer special promotions and discounts: You can create thematic offers related to the celebration, selecting special combos or delivering gifts when making a certain purchase. Be sure to promote these deals on your social media, website, and physical store to generate more interest.

• Create related events or activities: You could place, in your establishment, music, decoration and typical food, as well as carry out raffles to generate interaction with your customers. Remember to promote these events in advance.

• Highlights products: many people will be looking to support and promote local talent at this time of year. If you offer regional products, highlight their quality, origin and comment on their benefits for the economic development of your community. Also, consider establishing partnerships with other businesses, which can broaden your reach.