Sales at Supermarkets and Hypermarkets Drive Growth
SAO PAULO – In September, Brazil experienced a boost in retail sales, as consumers increased their spending at supermarkets and hypermarkets. The Brazilian Institute of Geography and Statistics (IBGE) reported a seasonally adjusted 0.6% increase in sales for the month, as well as a 3.3% rise from the previous year.
This growth can be attributed to the improving employment situation, according to Cristiano Santos, research manager for the retail sales reports at IBGE. The country’s unemployment rate fell to 7.7% in the three months leading up to September, marking a significant decrease from a peak of 8.8% in the first quarter of 2023.
Santos explained that people are primarily using their regular income to make purchases at hypermarkets and supermarkets, leaving little surplus for other activities.
Among the various segments analyzed in the survey, only three saw an increase in sales for the month. Sales in supermarkets and hypermarkets rose by 1.6%, while furniture and appliances experienced a 2.1% boost. Pharmaceutical items also saw a modest increase of 0.4%. On the other hand, sales of fuel and lubricants declined by 1.7%, while sales of clothing and footwear dropped by 1.1%.
