Some retailers in Venezuela are turning to old-fashioned layaway purchase offers to help customers buy everything from home appliances to shoes and motorcycles, as sky-high inflation and tight credit restrictions cut off other avenues for shopping. Though the government of President Nicolas Maduro relaxed currency controls in 2019, leading to a slight recovery for the crisis-hit country, this year the highest price growth in Latin America, shrinking wages and falling consumption have again battered the economy. Layaway, where customers pay an initial deposit to reserve a product and then pay the balance in installments, has become a strategy for businesses looking to increase sales, a dozen retailers, business guild presidents and analysts said.
United-states
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Distrito-federal
Venezuela
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America
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Ernesto-urdaneta
Mariela-nava