By In May, retail sales in Brazil experienced a decrease due to a reduction in consumer spending on food in supermarkets and hypermarkets. According to the Brazilian Institute of Geography and Statistics (IBGE), sales declined by 1.0% on a seasonally adjusted basis compared to the previous month and also dropped by 1.0% compared to the same period last year.
The decrease in sales was primarily driven by a 3.2% drop in food sales in supermarkets and hypermarkets, as well as a 3.3% decline in clothing and shoes sales. Additionally, purchases of furniture and household appliances decreased by 0.7% during the month.
However, not all sectors saw a decline in sales. Fuel and lubricant sales increased by 1.4% in May, while sales of pharmaceuticals and health and beauty aids saw a 2.3% growth, according to the IBGE.
With these results, it is evident that consumer spending patterns in Brazil are shifting, with a focus on essential goods like fuel and healthcare products. As the retail landscape continues to evolve, it will be essential for businesses in Brazil to adapt their strategies to meet changing consumer preferences.
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