Brazilian retail has worst month in 17 years

. May 13, 2020
Brazilian retail has worst month in 17 years Photo: Nelson Antoine/Shutterstock

Retail sales dropped 2.5 percent in March in comparison with the previous month, recording its worst result since 2003 and third-worst in history. The numbers could have been even worse if it were not for a 14.6-percent bump in sales for supermarkets and the food and beverage industry. Medications and cosmetics also performed better, registering a growth of 1.3 percent. 

In comparison to March 2019, this year’s sales were down 1.2 percent, the first year-on-year drop in 11 months.

Retail sales closed Q1 2020 below Q4 2019 levels. It’s important to remember that Brazil only started to enforce social isolation measures late in March — meaning that April and May should be even more daunting months for retailers.

Natália Scalzaretto

Natália Scalzaretto has worked for companies such as Santander Brasil and Reuters, where she covered news ranging from commodities to technology. Before joining The Brazilian Report, she worked as an editor for Trading News, the information division from the TradersClub investor community.

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