São Paulo – Sales in shopping centres throughout Brazil grew 10.65%, with revenues of R$ 119.5 billion (c. US$ 60 billion) in 2012. Christmas purchases grew 15% as against the same period in 2011, according to a balance sheet disclosed on Thursday (31) by the Brazilian Shopping Centre Association.
The organisation’s president, Luiz Fernando Veiga, attributed the good performance to the “low level of unemployment, growth in wages and to the offer of credit, which remains at significant levels,” as was stressed.
In his projection, sales should continue up and may grow 12% in 2013. According to the association, the demand for articles at Christmas was greater in the sectors of youth fashion, telephony, cosmetics and toys. Throughout the year, however, the highlights were trade in the food courts, leisure and jewellery and shoe shops.
With business stimulated by greater income of Brazilians, 27 new shopping centres were opened last year, increasing the number of purchase centres in the country to 457. This was the greatest growth over the last 13 years. The first shopping centre in Brazil was inaugurated in 1966, in Pinheiros neighbourhood, in São Paulo.
*Translated by Mark Ament