Last-Minute Rush Lifts Rio’s Holiday Sales as Projections Point to Modest Gain

Overview

• Crowds packed Rio’s Saara and Cadeg on Dec. 23–24, with vendors reporting heavy turnover and some shops roughly doubling daily revenue.
• CNC projects Christmas retail sales to rise 2.1% from 2024 to R$72.71 billion, which would mark the strongest season since 2014.
• Shopping centers saw higher traffic and sales, with Abrasce forecasting a 1% increase in visitors and 5% growth in revenue; Nova América expected more than 1 million visitors Dec. 10–24 and Leblon recorded over 200,000 between Dec. 19–23.
• FGV found Christmas-related prices up 0.1% year over year as gift items became pricier, while dinner staples like olive oil, rice and potatoes fell; imported bacalhau rose about 20% and some meats increased 7–9%.
• Caution persists as Serasa counted more than 80 million delinquent accounts in November and the Selic stands at 15%, with an IFec RJ survey showing a higher share of gift-givers but a lower average spend of R$293.