Retail in Brazil

March 2024
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Overview:

Understand the latest market trends and future growth opportunities for the Retailing industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Convenience Stores
  • Discounters
  • Hypermarkets
  • Supermarkets
  • Traditional Grocery Retailers
  • Apparel and Footwear Specialist Retailers
  • Electronics and Appliance Specialist Retailers
  • Health and Beauty Specialist Retailers
  • Home and Garden Specialist Retailers
  • Department Stores
  • Variety Stores
  • Warehouse Clubs
  • Direct Selling
  • Homeshopping
  • Vending

If you're in the Retailing industry in Brazil, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Retailing in Brazil report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Retailing in Brazil?
  • Which are the leading retailers in Retailing in Brazil?
  • How are products distributed in Retailing in Brazil?
  • How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
  • How significant are discounters and private label in Brazil?
  • How has the impact of COVID-19 and national lockdown impacted consumer demand?
  • Which formats have benefited the most from stockpiling and enforced home seclusion?
  • How will the wider economic impact of COVID-19 shape the retail landscape in the future?
  • Where is future growth expected to be most dynamic?
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Retail in Brazil

Retail in 2023: The big picture
Significant moves by major competitors in grocery retailers
While some retailers are struggling, others are booming
What next for retail?
Informal retail
Tax reform
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
Carnival
Consumer Day
Mother’s Day
Father’s Day
Semana do Brasil (Brazil week)
Client Day
Children’s day
Black Friday and Cyber Monday
Christmas
Summer
Back to school
Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
Table 3 Sales in Retail Offline by Channel: Value 2018-2023
Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
Table 5 Retail Offline Outlets by Channel: Units 2018-2023
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 21 Retail GBO Company Shares: % Value 2019-2023
Table 22 Retail GBN Brand Shares: % Value 2020-2023
Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028

DISCLAIMER

Summary 2 Research Sources

Convenience Retailers in Brazil

KEY DATA FINDINGS

OXXO moves to open more stores
Supermercado Hirota makes changes across its brands
AMPM installs street stores, stores in business condominiums, and in residential condominiums
Americanas will continue its business restructuring after entering judicial recovery, affecting Local Americanas and BR Mania
OXXO could potentially expand into forecourt retailers
New stores expected to continue to open between 2024 and 2028
Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 56 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 58 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 59 Convenience Retailers GBN Brand Shares: % Value 2020-2023
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028

Supermarkets in Brazil

KEY DATA FINDINGS

Grupo Mateus continues its aggressive expansion plan
Casino’s announcement of the sale of its stake in Grupo Pão de Açúcar means its exit from Brazil
Local retailer Supermercados BH advances in another state
In the early forecast period supermarkets will continue to close loss-making outlets
Acquisitions and sales expected to continue in the forecast period
Players in supermarkets will need to reinvent their brands to survive
Table 65 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 66 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 67 Supermarkets GBO Company Shares: % Value 2019-2023
Table 68 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 69 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 70 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 71 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Hypermarkets in Brazil

KEY DATA FINDINGS

Carrefour seeks to improve its results
Some regional hypermarket chains are competitive
Hypermarkets faces tough competition from neighbourhood supermarkets, convenience stores, and discounters
Speculation that the cash and carry business model will be reinvented, and stores converted back to hypermarkets
Carrefour set to remain dominant in hypermarkets, followed by a few regional competitors
Low growth in the number of stores expected, with higher growth in value sales over the forecast period
Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 74 Hypermarkets GBO Company Shares: % Value 2019-2023
Table 75 Hypermarkets GBN Brand Shares: % Value 2020-2023
Table 76 Hypermarkets LBN Brand Shares: Outlets 2020-2023
Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Discounters in Brazil

KEY DATA FINDINGS

Restructuring of Dia %, including reducing franchises and closing loss-making stores
Todo Dia also reduces its number of stores, but maintains a presence in the Northeast and South regions
The strength of private label within discounters likely to ensure some growth
The Spanish player Dia plans to sell its operations in Brazil
Table 79 Discounters: Value Sales, Outlets and Selling Space 2018-2023
Table 80 Discounters: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 81 Discounters GBO Company Shares: % Value 2019-2023
Table 82 Discounters GBN Brand Shares: % Value 2020-2023
Table 83 Discounters LBN Brand Shares: Outlets 2020-2023
Table 84 Discounters Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 85 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Small Local Grocers in Brazil

KEY DATA FINDINGS

Expansion of the Cacau Show and Kopenhagen/Chocolates Brasil Cacau franchises is not compromised by the Brazilian retail crisis
Nestlé Brasil enters Brazilian retail by acquiring the Kopenhagen/Brasil Cacau chains
Small everyday purchases favour sales at small local grocers
Interesting competition expected between Cacau Show and Nestlé Brasil during the forecast period
Demand across the income spectrum will favour sales in small local grocers
E-commerce may help drive footfall in the forecast period
Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 88 Small Local Grocers GBO Company Shares: % Value 2019-2023
Table 89 Small Local Grocers GBN Brand Shares: % Value 2020-2023
Table 90 Small Local Grocers LBN Brand Shares: Outlets 2020-2023
Table 91 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 92 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

General Merchandise Stores in Brazil

KEY DATA FINDINGS

With the judicial recovery process of Americanas, Havan becomes dominant in general merchandise stores
Americanas sets out a new strategy
Lojas Leader in variety stores is in judicial recovery, with debts above BRL1.0 billion, and it is feared it may be unable to avoid bankruptcy
Department stores is set to drive growth, especially Havan
Americanas will depend on regaining the trust of suppliers and consumers for its restructuring plan to be successful
Compact stores likely to become an increasing trend in general merchandise stores
Table 93 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 94 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 95 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 96 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 97 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 98 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 99 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 100 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 101 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 102 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 103 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

Apparel and Footwear Specialists in Brazil

KEY DATA FINDINGS

Lojas Renner continues to lead, with its growth also remaining above the channel average
In 2023, Arezzo Indústria & Comércio closes some franchises of the Arezzo and Schutz brands
The long-standing crisis for Lojas Marisa causes it to enter into judicial recovery and close nearly 100 stores in 2023
Value growth set to continue in the forecast period
Apparel and footwear specialists will continue to face competition from e-commerce for younger fashions
More apparel and footwear specialists are expected to face difficulties, with store closures and bankruptcy filings in 2024
Table 104 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 105 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 106 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 107 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 108 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 109 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 110 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Appliances and Electronics Specialists in Brazil

KEY DATA FINDINGS

Despite seeing growth, falling purchasing power and a loss of trust prevent stronger growth for appliances and electronics specialists in 2023
Via Varejo/Grupo Casas Bahia aims to improve its financial indicators
National group Magazine Luiza faces challenges in 2023
With the prospect of increasing employment and an improvement in family income, growth is expected over the forecast period
Climate change, with drought in the north and floods in the south, and the prospect of more intense summer heat signal strong sales of fans and air conditioners
Paris Olympic Games expected to boost sales of electronics, especially televisions
Table 111 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 112 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 113 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 114 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 115 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 116 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 117 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Home Products Specialists in Brazil

KEY DATA FINDINGS

In difficult times, Tok & Stok files for judicial recovery and closes stores in 2023, and may join with Mobly
In 2023 C&C is sold, and Telha Norte restructures
Petlove hopes to reach the sales barrier of BRL1.5 billion with physical and online sales, and health plans for pets
Approval of tax reform and confidence that the economic environment will heat up will be triggers for growth
Mergers and acquisitions expected in home improvement and gardening stores, as well as homewares and home furnishings stores
Petz, Cobasi, and Petlove likely to lead pet shops and superstores over the forecast period
Table 118 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 119 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 120 Sales in Home Products Specialists by Channel: Value 2018-2023
Table 121 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
Table 122 Home Products Specialists GBO Company Shares: % Value 2019-2023
Table 123 Home Products Specialists GBN Brand Shares: % Value 2020-2023
Table 124 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
Table 125 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 126 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 127 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
Table 128 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028

Health and Beauty Specialists in Brazil

KEY DATA FINDINGS

Raia Drogasil has a strong lead in health and beauty specialists in value terms
O Boticário maintains its strong lead in beauty specialists
Soneda innovates with A Casa da Beleza, which in addition to retail, has hair salon services, and focuses on sustainability
Expansion plans set to continue, which will help drive growth
Despite a return to growth, beauty specialists will struggle to recover to its pre-pandemic level of sales
The chained stores of large retailers will take share from independent retailers in health and beauty specialists
Table 129 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 130 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 131 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 132 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 133 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 134 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 135 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 136 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 137 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 138 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 139 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

Vending in Brazil

KEY DATA FINDINGS

Vending is a small but growing channel
Diversification of the products available via vending
New players enter an already fragmented channel
Shopping centres may be an avenue for growth for vending
Healthier product references increasingly likely to be seen in vending machines
Move towards dynamic QR codes set to continue
Table 140 Vending by Product: Value 2018-2023
Table 141 Vending by Product: % Value Growth 2018-2023
Table 142 Vending GBO Company Shares: % Value 2019-2023
Table 143 Vending GBN Brand Shares: % Value 2020-2023
Table 144 Vending Forecasts by Product: Value 2023-2028
Table 145 Vending Forecasts by Product: % Value Growth 2023-2028

Direct Selling in Brazil

KEY DATA FINDINGS

Continued growth trend in 2023, as consumers needing additional income turn to direct selling
The changing profile of the salesforce is relevant in direct selling
Players focused on health and beauty dominate
Companies will need to attract and maintain an effective workforce to drive growth
Beauty and personal care direct selling set to continue to perform well
Players likely to focus on providing consumers with experiences
Table 146 Direct Selling by Product: Value 2018-2023
Table 147 Direct Selling by Product: % Value Growth 2018-2023
Table 148 Direct Selling GBO Company Shares: % Value 2019-2023
Table 149 Direct Selling GBN Brand Shares: % Value 2020-2023
Table 150 Direct Selling Forecasts by Product: Value 2023-2028
Table 151 Direct Selling Forecasts by Product: % Value Growth 2023-2028

Retail E-Commerce in Brazil

KEY DATA FINDINGS

Despite the Americanas scandal, e-commerce maintains value growth in 2023
Despite the high number of visits on websites and via apps, AliExpress and Shein serve niches, and have a low average ticket price
Challenges for players due to high costs and consumers’ aversion to paying for shipping
Retail e-commerce set to return to a stronger growth curve in the forecast period
Americanas remains in the minds of consumers, and is expected to generate good sales via e-commerce
Amazon will further intensify the competition with MercadoLibre, while some consumers will move away from marketplaces
Table 152 Retail E-Commerce by Channel: Value 2017-2022
Table 153 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 154 Retail E-Commerce by Product: Value 2017-2022
Table 155 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 156 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 157 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 158 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 159 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 160 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 161 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027
The following categories and subcategories are included:

Retailing

      • Fashion Vending
      • Health and Beauty Vending
      • Appliances and Electronics Vending
        • Alcoholic Drinks Vending
        • Hot Drinks Vending
        • Soft Drinks Vending
        • Tobacco Products Vending
      • Foods Vending
      • Home Products Vending
      • Other Products Vending
        • Apparel and Footwear Direct Selling
        • Personal Accessories Direct Selling
        • Eyewear Direct Selling
        • Beauty and Personal Care Direct Selling
        • Consumer Health Direct Selling
        • Tissue and Hygiene Direct Selling
      • Appliances and Electronics Direct Selling
      • Drinks and Tobacco Direct Selling
      • Foods Direct Selling
      • Home Products Direct Selling
      • Other Products Direct Selling
        • Apparel and Footwear E-Commerce
        • Personal Accessories E-Commerce
        • Eyewear E-Commerce
        • Beauty and Personal Care E-Commerce
        • Consumer Health E-Commerce
        • Tissue and Hygiene E-Commerce
        • Consumer Appliances E-Commerce
        • Consumer Electronics E-Commerce
        • Toys and Games E-Commerce
      • Drinks and Tobacco E-Commerce
      • Foods E-Commerce
        • Home Care E-Commerce
        • Home and Garden E-Commerce
        • Pet Care E-Commerce
      • Other Products E-Commerce
        • First-Party (1P) Marketplace E-Commerce
        • Third-Party (3P) Marketplace E-Commerce
      • Grocery E-Commerce
      • General Merchandiser E-Commerce
      • Apparel and Footwear Specialist E-Commerce
      • Appliances and Electronics Specialist E-Commerce
      • Home Products Specialist E-Commerce
      • Health and Beauty Specialist E-Commerce
      • Leisure and Personal Goods Specialist E-Commerce
      • Other E-Commerce Retailers

Retailing

Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.

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