Data published today by the National Institute of Geography and Statistics (IBGE) shows that Brazil’s retail sales volume increased just 0.6 percent in November 2021, compared to one month before. November coincides with Black Friday, which in recent years has become one of the most important shopping dates for Brazil.
The paltry growth highlights just how underwhelming the event was in 2021. Furthermore, despite the overall increase, more than half of the retail sectors analyzed by IBGE saw negative results during the month.
As we pointed out at the time, November’s retail growth was largely led by food and drink and supermarket sales indicating that Brazilian Black Friday consumers made use of the event to purchase basic items, as opposed to more expensive electronics and furniture — a sector which contracted 2.3 percent during the period.