Brazil: Falling sales drove nearly 100,000 shops to a close

Around 95,400 shops closed across Brazil last year due to falling sales, shows a report published Friday by the National Commerce Federation (CNC).

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Brazil
Brazil

With all these closures, the total number of shops fell by 13.4 percent, which worsened the country’s economic crisis, according to the report.

Brazil
Brazil
“The crisis reduced the number of shops across almost the entire country, including the largest wholesalers,” says the CNC report. “2015 was the worst crisis for the commercial sector in the last 15 years.”

Statistics show that the sales from Brazilian shops fell by 8.4 percent between January and November 2015, more than five times higher than the 1.6 percent fall seen in all of 2014 and the worst in 15 years.

“Our studies have shown the scale of this crisis across all commercial sectors, including for large players, which usually have a greater capacity to face a recession. This shows that this problem is affecting the entire country,” reads the report.

The worst-hit sectors, in terms of the number of shops closed, were construction materials, IT and communication, and furniture and home appliances. Enditem

Source: Xinhua

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