Retail sales in the city of São Paulo grew 25.5% in December 2022 compared to November, according to the Balance of Sales, an indicator prepared by the Institute of Economics Gastão Vidigal (IEGV) of the Commercial Association of São Paulo (ACSP) with based on a sample from Boa Vista. Compared to December of the previous year, the balance increased by 0.7% and, compared to the same month of 2019, the increase was 2.7%.
According to economist Ulisses Ruiz de Gamboa, the rise in December occurred because economic activity was stronger, in addition to higher occupancy and employment rates. The increase in consumer confidence and sales registered at Christmas should also be taken into account.
“It is necessary to consider that the alteration in the operation of the trade during the days of the Brazilian team games had a negative influence on sales. In addition, we had fewer working days between one year and another”, said Gamboa.
According to the ACSP, the survey of intent to purchase gifts for Christmas, commissioned by the entity in early December, indicated that consumers would not anticipate purchases. “This was confirmed in the December indicator results. There was no cannibalization, for example, between Black Friday and Christmas,” he said.
