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Mastercard Survey Shows Consumers Are Now Placing More Value on Family, Health and Mental Well-Being than Before COVID

Mastercard
·3 mins read

Lo Esencial Infographic

Lo Esencial
Lo Esencial
Lo Esencial

The survey shows results about the essential aspects of Latin Americans’ lives after quarantine.
The new Mastercard campaign seeks to support consumers and small businesses as they return to a new normal.

MIAMI, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Latin America and the Caribbean are entering a new reality: many countries are reopening their borders, governments are easing distance measures, and non-essential businesses are opening to the public again.

During this new phase, Mastercard announced its new regional campaign, “Lo Esencial” (The Essentials) to highlight those everyday moments that became essential after COVID-19. The campaign will provide consumers and local businesses with safe shopping experiences, tools, and education that help fulfill their everyday needs.

To develop this initiative, Mastercard conducted a survey in 13 countries throughout Latin America and the Caribbean including, Brazil, Mexico, Chile, Colombia, Argentina, and Peru, to better understand consumption and purchase habits after the period of confinement.

According to the “Lo Esencial” survey, 67% of Latin Americans surveyed said they have a greater appreciation for their family than before the quarantine. The survey also highlights an increased awareness of other essentials such as health (47%), taking personal time (41%), mental health (32%), and spending time with friends (26%).

As consumers engage in their return to a new normal, 6 out of 10 people (57%) plan to invest in the quality of their family experiences. Additionally, 46% of Latin Americans indicated their wish to support local businesses more in this return phase, than before the pandemic.

In terms of payment experiences, for purchases made in person as well as online, the essentials cited by consumers include, security (59%), speed (23%), and convenience (17%). Purchases with chip cards and contactless payments were the most popular options for payment. Furthermore, 62% of Latin Americans stated that they used a home shopping service during the quarantine. In fact, almost half of them (46%) said that they would continue to use this service in the future.

As a leader in the payments industry, Mastercard is committed to developing a global technology infrastructure and use its brand strength to positively impact society with safer, faster, and more efficient payment experiences. This new regional campaign reflects this commitment and seeks to highlight everyday moments that have become “The Essentials” (Lo Esencial) in the aftermath of the pandemic. The campaign will continue to provide unique shopping experiences, relevant consumer education, and tools to help society thrive.

“The pandemic helped us realize the importance of the everyday moments we lost and grew to miss as we all did our part to stay at home. The experience associated with getting our morning coffee, or meeting up with friends have a renewed level of appreciation, and the ability to recover these essential moments today is priceless,” said Roberto Ramirez Laverde, Senior Vice President of Marketing and Communications for Mastercard Latin America and the Caribbean. “This campaign seeks to help individuals welcome a new normal with a new sense of gratitude while also helping consumers and small businesses make them a reality as part of our role as the strategic partner for local businesses.”

About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections across more than 210 countries and territories, we build a sustainable world that unlocks priceless possibilities for all.

Contact:
Roberto Vila
Mastercard
roberto.vila@mastercard.com
+1 (305) 536 9497

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/61dd2e71-d71d-4074-bca3-eda291f4279c