Peru's retail sector sales will expand 6% to S/38 billion (around US$11.487 billion) in 2018, up from last year's total of S/36.2 billion (around US$10.943 billion), Production Ministry (Produce) projected.
This forecast will be underpinned by sales at supermarkets, department stores, and home centers, Deputy Minister of Micro and Small Scale Enterprises (MSEs) Javier Davila informed.
Retail sector's sales
continued to grow between January and July this year, thus registering an 8.4% expansion compared to the same period in 2017, he explained.
According to the official, said the result was driven by the good performance of department stores and supermarkets, as well as sales of books, newspapers, and stationery items.
Furthermore, supermarkets and department stores' deals accounted for 56.5% of the sector's total sales, followed by hardware and household appliances stores (21.8%), drugstores and pharmacies (19.5%), as well as books, newspaper, and stationery (2.2%).
Some 202 out of over 7,000 formal companies operating in the market —with sales of S/3 million (around US$906,000) or more and over 50 employees— own a total of 4,854 stores throughout the country, the official stated.
On the other hand, the deputy minister informed the aforementioned sector posted an annual average increase of 7.1% between 2013 and 2017
This growth was underpinned by supermarkets and department stores' good dynamism and higher sales (7.2%).
This outcome was boosted by sales strategies (offers, deals, and discounts) that companies have developed in the last few years.