Crisis: Retail sales fall 5% at Easter 2024

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Brazilian retail sales decreased by 5% during Easter this year compared to the equivalent period of the previous year, as indicated by the Cielo Expanded Retail Index (ICVA). Cielo attributes this drop to this year’s calendar, where Easter occurred at the end of the month, a time when families generally have fewer financial resources available.

Carlos Alves, vice-president of Technology and Business at Cielo, noted that last year Easter was at the beginning of the month, a time when sales tend to be stronger due to salary payments.

The ICVA analyzed retail sales from March 25th to 31st this year, comparing them with Easter week 2023, which took place from April 3rd to 9th.

During this interval, the Supermarkets and Hypermarkets sector saw a 3.9% reduction in sales. In contrast, chocolate shops experienced growth of 3.8%, with a 4% increase for those located in shopping malls and a 3.7% increase for high street chocolate shops.

All regions of the country recorded a drop in sales, the most significant being in the Central-West, with a decrease of 8.5%. In the Southeast, the drop was 5.5%. Paraná was the state with the biggest drop, with a reduction of 8.8%, and compared to 2023, no state had an increase in sales during Easter.

ICVA is calculated by Cielo based on sales in 18 sectors that the company monitors, covering merchants of all sizes. The data represents more than 870 thousand retailers affiliated with Cielo, and the influence of each sector in the index is determined by its monthly performance.

The article is in Portuguese

Tags: Crisis Retail sales fall Easter

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