Retail revenues in Brazil climbed to a 10-year high during 2007, according to the United States Department of Agriculture (USDA), as retail capacity and employment in the sector also increased through the year.
Figures in a new report, supplied by the Brazilian Supermarket Association (ABRAS), showed that retail sector revenues increased to US$69.9bn in 2007. This represented a 6 per cent increase on the previous year, with retailing contributing to 5.2 per cent of the country's GDP of US$1.1tn.
The results were attributed to higher average incomes for customers in the country, with expanded credit availability, real income gains and a lower unemployment rate bringing an increased number of consumers into the market.
Additionally, rising food prices and higher investments had a significant affect on the results, the USDA said.
Retail capacity grew throughout the year, the study found, with the overall number of checkouts increasing by 3 per cent, and employment jumped 3.6 per cent from 838,000 employees in 2006 to 868,000.
The three leading retail chains in Brazil, Carrefour, Pao de Acucar and Walmart, increased their total market share by 5 per cent to 39 per cent overall. Carrefour posted 50 per cent growth in sales for 2007, with Walmart's sales jumping 16.2 per cent.
