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Store cards is a shrinking category due to key historic players like Falabella or Ripley preferring to develop relationships with operators with a wider coverage, like Visa or Mastercard, which gives them the possibility of achieving a greater number of transactions, as they expand their networks of outlets and the acceptance of their cards. This is highlighted by the fact that institutions that were once department stores’ financial companies, like Banco Falabella or Banco Ripley, are now the leading issuers of credit cards in Peru.
Store cards appeal to consumers by offering various different benefits to attract customers. These include discounts in their stores, loyalty point programmes that allow customers discounted or even free products from their stores and credit advances.
Peruvians usually use their store cards to take advantage of special offers and discounts that are available exclusively to store cardholders. Department stores offer “Cierrapuertas”, which are timeframes when only store cardholders can buy products at very big discounts in the retailer in question’s outlets.
Many retailers that were traditionally strong players with their store cards are migrating to credit cards in alliance with Visa or Mastercard. In this way, they intend to gain a greater presence in financial cards and payments by giving their clients the possibility of using the cards in other stores and establishments, or even abroad.
Banco Falabella Perú, with its CMR card, continues to be the clear leader in store cards. It advertises the card to try and expand its presence and offers various benefits from using the card in the group’s stores (Tottus, Falabella, Sodimac).
Makro, the biggest wholesaler in Peru, has an alliance with Crediscotia Financiera, which administers its Tarjeta Única Makro store card. However, in spite of being administered by a financial company and not directly by the retailer itself, it works as a store card as it can only be used in Makro outlets and is not affiliated to any other operator.
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Discover the latest market trends and uncover sources of future market growth for the Store Card Transactions industry in Peru with research from Euromonitor's team of in-country analysts.
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If you're in the Store Card Transactions industry in Peru, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Store Card Transactions in Peru, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.