In total, Brazilians are expected to buy technology products worth US$20 billion in 2016. The sector, which includes smartphones, tablets, TVs and more, is being most affected by the country's economic crisis. GfK expects sales to fall another 3% in 2017.
"This is a market that depends a lot on credit and consumer confidence to grow. With a weak economy everything becomes more difficult and the consumer pulls back on purchases," explained Claudia Bindo, Director of New Business at GfK, during the sixth annual Brazilian Retail Week.
In the first half of the year, computer items saw the biggest drop in volume of sales. More specifically, the market saw a loss of 33% compared to the same time period in 2015. The categories with the next biggest drops were telephones (-30%), air conditioners (-27%), electronics (-21%) and white line products (-16%).
To counter, stores are offering installment plans with 13 payments or more.
Between January and April of this year, e-commerce accounted for 20% of sales in value. Among the reasons for buying alone are fast and secure payment, special price offers, speed of delivery and no shipping costs.
For more information go to Supermercado Moderno (in Portuguese) Brazilian Technology Purchases Fall
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