April 29, 20 - 3:21 pm - LABS

Cielo estimates that 70% of Brazil is operating normally

Cielo, the largest credit and debit card operator in Brazil, estimates that 70% of the country is operating normally, a number that suggests many stores of non-essential goods are opened and do not comply with social distancing measures. The CEO Paulo Caffarelli gave the figure to Valor Econômico, based on the retail sales indicator maintained by the company, called ICVA.

“There were weeks in which isolation was significantly reduced, and transactions increased, but all is volatile,” said Caffarelli.

Depending on the health and government officials, starting on May 3rd and even more on May 11th, there will be an even more significant change in isolation compliance.

Paulo Caffarelli, CEO of Cielo

Large urban centers in the country are more compliant with distancing rules, something that does not occur in the interior with the same intensity, according to the executive.

Photo: Shutterstock

ICVA registered a 38% drop in April, so far. In non-durable goods, the contraction was 7.3%; in durable, 55%; and in services, 73%. The behavior still varies widely from one week to another.