Wall-mart is looking to boost its presence in Brazil
Friday, July 18, 2008
US supermarket giant Wall-Mart has announced plans to expand its operations and invest 400 million reals (£101 million) in the north-east of Brazil.
Wall-Mart is just one of a number of international firms that are looking to expand in Brazil and take advantage of the country's growing economy and consumer spending power. The Pao de Acucar Group is the leader of Brazil's supermarkets and topped last year's ranking of stores by ABRAS(the Brazilian Association of Supermarkets), after earning more than £3.8 million. However, the Brazilian chain will face stiff competition from US supermarket giant Wal-Mart in the future.
Vicente Trius, chief executive of Wal-Mart Brazil has said that eight supermarkets will be built in Pernambuco, seven in Bahia; three in Rio Grande do Norte and one in Ceará. Wall-Mart aims to open 28 new stores and 19 pharmacies across the country with around 1 billion reais (£253 million).
Figures revealed that Brazil's supermarket spending power has increased over 4.2 per cent this year. The growing spending of the Brazilian consumers is expected to flow into the property market in the coming years increasing demand and property prices.
Independent analysts Amberlamb has said that economic growth and a burgeoning tourist industry have created a lucrative property market in Brazil and property prices are booming, which it claims has been brought on by a strengthening economy.
A recent report by Nubricks has highlighted Brazil's economic buoyancy and the Brazilian currency, the real increased by 16 per cent against the pound.
Social BookmarkingWall-Mart is just one of a number of international firms that are looking to expand in Brazil and take advantage of the country's growing economy and consumer spending power. The Pao de Acucar Group is the leader of Brazil's supermarkets and topped last year's ranking of stores by ABRAS(the Brazilian Association of Supermarkets), after earning more than £3.8 million. However, the Brazilian chain will face stiff competition from US supermarket giant Wal-Mart in the future.
Vicente Trius, chief executive of Wal-Mart Brazil has said that eight supermarkets will be built in Pernambuco, seven in Bahia; three in Rio Grande do Norte and one in Ceará. Wall-Mart aims to open 28 new stores and 19 pharmacies across the country with around 1 billion reais (£253 million).
Figures revealed that Brazil's supermarket spending power has increased over 4.2 per cent this year. The growing spending of the Brazilian consumers is expected to flow into the property market in the coming years increasing demand and property prices.
Independent analysts Amberlamb has said that economic growth and a burgeoning tourist industry have created a lucrative property market in Brazil and property prices are booming, which it claims has been brought on by a strengthening economy.
A recent report by Nubricks has highlighted Brazil's economic buoyancy and the Brazilian currency, the real increased by 16 per cent against the pound.
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