by Jeffrey T. Lewis
SAO PAULO – Brazil’s retail sales rose in November as consumers bought more pharmaceutical products and spent more in supermarkets and hypermarkets.
Brazil’s Institute of Geography and Statistics, or IBGE, said on Friday that sales rose 0.6% seasonally in the month and fell 4.2% from a year earlier. IBGE said sales rose 0.2% in October, down from a 0.1% decline, and a revised 6.8% decline from a year ago.
Medical, pharmaceutical and health and beauty aid sales rose 1.2% in November after a 0.1% decline in October, while shopping in supermarkets and hypermarkets rose 0.9% in the month, up from 0.3% growth in the previous month, IBGE said.
Although Brazilians do not celebrate Thanksgiving, Black Friday sales have become a tradition in the country, often beginning in the middle of the month. According to the statistics agency, in 2021, spending on Black Friday sales was not as intense with fewer sales.
“This is partly due to inflation, but also to a change in the consumption profile, as some purchases were made in October or even in the first semester, when credit was more available” and more discounts, research Cristiano Santos, Director of Retail Sales Chain of IBGE.
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