You’re reading The Brazilian Report‘s weekly tech roundup, a digest of the most important news on technology and innovation in Brazil. This week’s topics: Brazilian retailers’ Black Friday expectations. Fintechs. The arrival of a Chinese tech giant to Brazil. And a plan to connect public schools to the internet.
Black Friday even more crucial for retailers in 2019
Only nine years since the very first Black Friday in Brazil, and the day after Thanksgiving—which is not even celebrated in the country—is already the biggest shopping event of the year in Brazil, overtaking Christmas. All indications point to an even bigger edition this year, bringing a crucial boost to Brazil’s economy.
According to the Brazilian Association of Shopping Malls (Alshop), Brazilian retailers expect Black Friday sales to reach BRL 3 billion this year, 18 percent more than 2018. Research from Google and consultancy firm Provokers, released this week, pointed out that Black Friday-related search-engine queries grew 68 percent in October in comparison to last year. The most desired items were home appliances and electronics.
Alshop put this growth down to lower interest rates, Christmas bonuses, and stimuli provided by the government, such as the authorization of withdrawals from workers’ individual severance funds.
Ilan Arbetman, a stocks analyst at brokerage firm Ativa Investimentos, agrees with that view. “The government—understanding the macro-economic challenges—has been focusing on the indexes that deliver quicker results. (…) There is every likelihood we will see growing numbers. I believe the event will be a success,” he told...
Search
