New Market Report: Consumer Appliances in Portugal
Consumer appliances was strongly affected by the economic recession in Portugal. Booming unemployment, wage and pension cuts and rising taxation squeezed the disposable incomes of Portuguese consumers. Moreover, Portuguese banks drastically cut lines of credit to consumers; whilst at the same time most consumers themselves abandoned the "buy-now-pay-later" credit card mentality of previous years, and necessarily adopted a conservative stance. More and more Portuguese consumers simply could not,...
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