By Contributing Reporter
RIO DE JANEIRO, BRAZIL – Couples chose to buy online this year rather than in physical stores for Lover’s Day (Dia dos Namorados) gifts. While sales increased by 24 percent in e-commerce compared to last year, there was a 2.9 percent drop in physical retail, the largest retraction in two years.
A survey by Ebit|Nielsen, a Brazilian e-commerce data measurement and analysis company, shows that, after Lover’s Day strongly affected by the truckers’ strike in 2018, this year e-commerce had a turnover of R$2.2 billion (US$564 million), a nominal growth of 24 percent compared to the same period last year (May 28th to June 11th).
Although the average purchase fell 17 percent to R$384, the number of orders grew 50 percent over last year, with 5.7 million orders.
The study also shows that in early June, buying intentions for Lover’s Day were lower than last year. However, on the eve of the celebration, the percentage of gifts purchased for the occasion was higher than in 2018.
Regarding physical retail, a survey by Serasa Experian shows that there was a 2.9 percent drop in sales during Lovers’ Day week, from June 6th to 12th, against the same period the year before. It was the sharpest drop compared to the last two years.
The indicator also showed a 2.6 percent decrease over the weekend preceding the date (June 7th to 9th) across the country.
In the city of São Paulo, trade during Valentine’s Day week, regarded as the third most significant event for Brazilian trade, decreased 6.3 percent over the previous year. During the weekend, the indicator fell by 8.2 percent in the São Paulo capital.
The economists of Serasa Experian assess that this market behavior follows the same trend as that observed during Mothers’ Day celebration this year, which fell by 1.4 percent over the same period last year. This negative result is influenced by accrued inflation in the previous three years, by unemployment rates and also by the decline in consumer confidence.