RIO DE JANEIRO, BRAZIL – Sales in Brazil’s shopping malls increased by 7.2 percent in the third quarter of 2019 compared to the same quarter of 2018. In the year to September, sales increased by eight percent over the same months last year.
The data are included in a survey published by the Brazilian Shopping Malls Association (ABRASCE). The accumulated sales growth of eight percent in the year was higher than expected by the organization, which had estimated a seven percent increase in sales in the sector in 2019.
The growth in sales is linked to the increase in the amount of credit and the reduction in inflation, factors that contributed to raising the purchasing power of families, according to ABRASCE.
The reduction in unemployment, although small, also contributed to increased consumption capacity in the country, mentioned the association.
ABRASCE reminded that the month of September included an extra incentive for sales with the Brazil Week, a promotional campaign organized by the federal government. The week generated sales 16.8 percent higher than the same period last year when there was no special date.
The association expects that Brazil Week will be repeated in the coming years, permanently entering the calendar of strong retail dates.
Finally, the sales increase was enhanced by the inauguration of seven shopping malls this year, which has added 151,000 square meters of storefront to the Brazilian market.
Despite the positive numbers, the association chose to be cautious and not raise the projections for the remainder of the year, as the pace of recovery of the Brazilian economy as a whole is still slow.
ABRASCE’s survey further showed that the average spending at shopping malls in the third quarter was R$96.34 (US$23.41), an amount four percent higher compared to the same period last year, when it stood at R$92.97.
Source: Estadão Conteúdo