Retail sector sales expanded 6.6% to S/2.92 billion (around US$890 million) in February this year compared to the same month a year earlier, Production Minister Raul Perez-Reyes said on Tuesday.
"Said increase was mainly underpinned by greater dynamism of sales at department stores and supermarkets," the government official underlined.
The growth —he continued— was also explained by a recovery in
consumer confidence, as reflected in the increased number of visits to shopping centers.
February's positive figures were driven by a massive opening of new format establishments, such as convenience and discount stores, whose purpose is to attract consumers belonging to social strata C and D.
Growing sub-sectors
The hardware and electrical appliance sub-sector registered a positive growth rate of 13.4%, which was explained by increased sales of furniture, hardware, paints, accessories, and other products
This growth is in line with
construction sector's expansion reported this month, which demands related products.
On the other hand, drugstore sales activity increased 3.9% as a result of higher sales of medicinal, botanical, and personal care products.
Finally, book and stationery sales posted a 5.7% rise, driven by greater transactions at the beginning of the school year.
(END) ECS/RMB/MVB
Published: 5/8/2018