For someone like Marcia Regina da Cruz, a Brazilian janitor who earns just over $150 per month, grocery shopping is a painfully difficult task. What this mother of three can buy to feed her children is almost always determined by the amount of spare change she can muster on a given day. So when she bought three irons as presents for $32 she had done the impossible. Thanks to a new set of policies at Brazil’s largest grocery and retail stores, Marcia and other low-income Brazilian consumers can now make purchases in monthly installments with almost no interest. According to the New York Times, the new policies, which provide “low-cost credit for low cost-items,” are an attempt by retailers to “squeeze more spending from the big, but cash-short, bottom of the consumer base in Brazil, South America’s biggest economy.”



add to del.icio.us
add to digg
related at technorati


On Proctor & Gamble Water Filter Sachets
On Social Entrepreneurs from GSBI 2008: Meet Zipporah Ongwenyi, from Binti Africa Foundation
On Event: How Everyone Can Be a Social Investor
On Social Entrepreneurs from GSBI 2008: Meet Zipporah Ongwenyi, from Binti Africa Foundation
On Nigeria: Small Businesses and Economic Growth