Magazine Luiza’s start-of-the-year sale started this Friday (6th), at 7 am, and the company recorded queues of customers in front of the chain’s stores in cities such as São Paulo and Franca (SP); Uberaba (MG), Magé, Nova Iguaçu and Rio de Janeiro (RJ).
The closeout sale is typically the equivalent of ten normal days in the “Fantastic Sale” period, and the company expects to maintain this pattern.
Scheduled for the first Friday of the year, the 30th edition of the sale can be extended until Sunday, if there is stock.
In Franca, the city where the company was founded, according to the company’s report, there were people marking their place since Wednesday afternoon (4).
Products from different categories are up to 80% off in more than 1,400 physical stores and on the company’s digital channels.
More traditional than Black Friday, the beginning of the year sales are already part of the calendar of Brazilian retailers and competing chains such as Via (owner of Casas Bahia and Ponto) and Americanas are also offering promotions on the street.
Still without consolidated data for Christmas, it is possible to know that the expectation for year-end sales was high, but without exaggeration, which may explain the aggressive promotions at the beginning of the year.
Economists at the Commercial Association of São Paulo (ACSP) projected real growth of 3% over the previous year in Christmas sales.
The Brazilian Institute of Retail Executives (Ibevar), projected the evolution of restricted retail sales (excluding “vehicles, motorcycles, parts and pieces” and “construction material”), for the months of December 2022, January and February 2023 by 0.46%.
XP analysts indicated a scenario of uncertainty for retailers’ Christmas sales due to the overlap with Black Friday and the World Cup, combined with a challenging macro scenario.
Even with projections of lower sales volumes, Danniela Eiger, Thiago Suedt and Gustavo Senday predicted that the average ticket could offset this effect.
Source: CNN Brasil
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