Brazil’s retail sales showed a modest increase of 0.5% month-on-month (MoM) in September 2024, as reported by the Brazilian Institute of Geography and Statistics (IBGE). This uptick follows a 0.2% rise in August. In the third quarter of 2024, the quarterly moving average also reflected a slight change of 0.3%.
However, not all sectors experienced growth. The retail sales volume for fabric, apparel, and footwear took a hit with a 1.7% drop in September. On a broader scale, when looking at the figures without seasonal adjustments, retail trade in Brazil saw a year-on-year (YoY) increase of 2.1% in September, marking the 16th consecutive month of positive growth. The cumulative index for the year reached 4.8%, while the 12-month cumulative figure stood at 3.9%, according to the latest IBGE data.
Focusing on the retail landscape in Brazil, the current trends highlight some challenges, particularly in the fashion and footwear sectors, which are facing declines despite overall sales growth. As the market adjusts, stakeholders will be watching closely to see how these shifts impact consumer behavior and economic recovery in the coming months.
