Chile Consumer Electronics Q4 2020
The core scenario is that the Covid-19 pandemic will cause a sharp fall in consumer electronics device spending in Chile2020 because of economic disruption during lockdown in H120 and the recession in H220. We expect this to be followed by arebound in 2021 once a vaccine is deployed, but the timing of this is uncertain. There is also high-impact downside risk in theinterim if there is a second wave of infections that requires stricter social distancing and further disrupts retail operations, hittingconsumer earnings and sentiment in Q420. There are also unknowns surrounding the shape of the recovery, since the pandemicmay have lasting effects on consumer behaviour.
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