By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Not even the Christmas season was able to overcome the continuing recession and lack of credit in Brazil, with Brazilian shopping mall retailers reporting negative sales results during this Christmas season. Sales in shopping malls fell by three percent this end of year, according to a survey released on Monday by the Brazilian Shopping Tenants Association (ALSHOP).
The survey shows that consumers opted for smaller, less expensive gifts this year, leading to the decrease in sales of such items such as furniture and gifts for the home (-9 percent), technology . . .