Shopping malls have a 10.9% increase in sales for Father’s Day 2022, says survey

Shopping malls in Brazil recorded a 10.9% growth in Father’s Day sales, between August 8 and 14, compared to the same period of the previous year, with a turnover of R$ 4.2 billion, according to the Cielo do Varejo Index. Expanded (ICVA), prepared by the Brazilian Association of Shopping Centers (Abrasce).

In comparison with the period of 2019, before the Covid-19 pandemic, the increase in revenue is 8.8%.

In relation to the amount handled, the amount is R$ 400 million higher than the R$ 3.8 billion last year.

The average ticket spent by consumers remained stable, compared to the same period in 2021, at R$193. Even so, it is 10% higher than the ticket in 2019 (R$176). In comparison with the average expenditure of BRL 96 in high street stores in 2022, the increase is 101%.

The number also came in line with market expectations. A study by Solucx, which conducts satisfaction surveys, revealed that 53% of the population intended to spend around R$100 on gifts for Father’s Day, while 10% intended to spend more than R$500.

Data were collected from June 26 to July 11, with more than 2,500 respondents across Brazil.

In the opinion of the president of Abrasce, Glauco Humai, with the constant increase in visitors to the malls, the sector projects a good second half, driven by some of the main commemorative dates of the year, such as Children’s Day, Black Friday and Christmas.

“These are encouraging results that show consumers increasingly returning to malls. Investors and entrepreneurs in the sector should start to reap more and more fruits throughout the year and 2022 is proving to be even more promising than we imagined”, said the executive.