Some Brazil Retailers Aims to Expand in Face of Slow Growth

Brazil is confronted with a depressed economic outlook for 2015 and low consumer confidence, but some businesses’ ambition from expanding is not halted, as was reported by cctv-america.com.

Global investment by the retail industry is expected to grow by almost 5%. According to a survey conducted by the Sao Paulo Commerce Federation, 48% of the retail companies aim to inject more money into their businesses in 2015, while only about 20% said they will decelerate. Despite that analysts predict the Brazilian economy will grow at a slow pace for at least 2 years, many retailers plan to increase investment.

Fabio Pina, chief-economist at the Sao Paulo Federation of Commerce, said, “Everybody knows that 2015 is going to be a very hard adjustment year, so we’re not investing thinking about 2015. Companies are investing and planning to invest more than in previous years but thinking about upcoming years.”

Hosley Pimenta, commercial director of Kalunga office supplies, the largest office supply chain in Brazil with 135 stores, is optimistic about the future. “There’s still a lot to do in Brazil. We believe this crisis won’t last long so it’s time to push. We have a very well organized business here that’s been going for more than 40 years, and we believe in it,” said Pimenta.

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