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Peru: Retail sales may have expanded 3.9% in 2017

14:39 | Lima, Jan. 17.

Retail sector sales may have exceeded S/35.40 billion (about US$11 billion) in 2017, a 3.9% rise compared to 2016, Lima Chamber of Commerce's (CCL) Institute of Economics and Business Development (IEDEP) affirmed Wednesday.

"This [growth] is partly explained by the expansion works conducted at 12 shopping centers in 2017, the increased number of outlet stores in Lima Metropolitan Area, and the permanent policies of discounted prices at supermarkets and drugstore chains," IEDEP Executive-Director Cesar Peñaranda explained.

Thus, the sector might see an accumulated growth of 12.6% over the last three years. 

It must be noted the modern retail sector comprises supermarkets and department stores, as well as shops linked to home improvement, household appliances, medicines, cosmetics, books, and newspapers, among others.

Supermarkets

In this sense, supermarkets are projected to become the most important subsector with sales worth S/14 billion (about US$4.35 billion) in 2017, a 5.3% increase over the previous year.

The invoiced amount of supermarkets accounts for 39.6% of total retail transactions.

Likewise, drugstore sales are estimated to reach S/6.91 billion (about US$2.14 billion), thus accounting for 19.5% of the sector's deals and becoming the second-most important subsector.

It is worth mentioning 240 new supermarkets were built nationwide between 2010 and 2017 (+166.7%).

(END) CNA/JAA/MVB

Published: 1/17/2018
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