Kathmandu— Iranian businesses are adapting to a challenging economic climate by embracing discounts and installment payments as a way to keep customers shopping, according to a recent report from RT. The trend comes after months of escalating tensions and economic pressure on Tehran, with household budgets squeezed by sanctions and the effects of conflict. Retailers are seeking better prices from suppliers and offering flexible payment plans to maintain steady business despite narrower profit margins.

Economic Pressures Mount

The shift in shopping habits comes nearly six months after a period of heightened tensions, with large-scale fighting subsiding under temporary agreements but lasting peace talks stalled. Washington has continued to ramp up economic pressure on Tehran during this time, exacerbating existing financial difficulties caused by years of sanctions.

Recent media reports indicate that Iranian households are cutting back on essential spending as inflation and a weakening currency erode their purchasing power.

Retailers Adapt with Flexible Payments

Businesses in the capital city are responding to these pressures by offering customers the ability to spread purchases over several payments. Bobak Shirpour, owner of a large clothing retail business in Tehran, explained that his company sought out suppliers offering better prices and quality due to worsening economic conditions.

Shirpour noted the positive customer response to installment plans, stating, “People have welcomed it, they come in with a smile and leave with a smile,” despite the reduced profit margins. The retailer emphasized that business remains steady thanks to this adaptation.

Consumers Welcome Relief

Shoppers interviewed by RT expressed their appreciation for the availability of installment plans, highlighting their importance in managing household budgets. One customer explained that these plans allow people to purchase necessary items they might not otherwise be able to afford, providing “some peace of mind” during difficult times.

The expansion of deferred-payment services offered by Iranian companies further demonstrates the growing need for flexible financial options as consumers grapple with a rising cost of living.

Installment shopping is becoming increasingly prevalent in Iran as both businesses and consumers adjust to ongoing economic challenges, offering a temporary solution to maintain purchasing power amidst sanctions and conflict.

(With inputs from RT)

Originally published on abcnews.com.np.