Retail sales would see a hike of 12% in 2016, said Jose Cabanillas, Retail and Distribution Guild President at Lima Chamber of Commerce (CCL).
Cabanillas affirmed the sector's sales are likely to increase 14% by 2017.
Improved economic dynamics and increased confidence in the new government will lead to better sales this year, whereas domestic consumption is expected to be the main driver of sales growth in 2017.
The sector’s expansion is mainly driven by the opening of new shopping malls, where people flow, entertainment, restaurants and other services are considered essential by operators.
There are 8,500 modern retail stores distributed in 86 shopping malls all over the country, 60% of which are located only in Lima. Another important number can be found in Piura, Arequipa and Trujillo cities.
“Even though Lima gathers the largest amount of malls, regions such as Ayacucho, Loreto and San Martin offer a great potential to dabble in,” Cabanillas affirmed.
Remarks were made within the framework of Interetail 2016, the 1st International Retail Forum.
(END) RGP/RGP/JHM/RMB
Published: 10/12/2016