Brazil: Online sales outperform shopping malls in pandemic

Shopping malls grossed approximately R$190 (US$34.4) billion in 2019 and are expected to have closed 2021 at R$175 billion.

RIO DE JANEIRO, BRAZIL - Earlier than expected and with a boost from the pandemic, e-commerce sales have outperformed those of shopping malls in Brazil. According to a study by Canuma Capital management company, last year online sales reached R$260 (US$47) billion, an increase of R$160 billion over 2019, before the pandemic.

On the other end, malls grossed approximately R$190 billion in 2019 and are expected to have closed 2021 at R$175 billion, considering the same stores, the study found.

However, according to the manager, the data do not show a loss of relevance trend . . .

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