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Learn moreAug 2020
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After years struggling to overcome the legacy of the 2015-2016 crisis, Brazilian macroeconomic indicators were finally gaining traction that allowed projections to consider a natural and gradual reheating of the economy, with a positive development expected for the coming years. However, the unprecedented global pandemic has strongly impacted all fmcg industries in the country, not least because of stores being closed for a number of months.
The first case of COVID-19 was confirmed by the Health Ministry on 26 February. On 16 March, schools closed in São Paulo, the state with the most cases, while on 17 March, the first death was registered.
As a result of the COVID-19 pandemic, company strategies are being adapted and becoming more focused on affordable offers. The depressed demand means that inventories remain full and creates challenges, at least in the short-to-medium term, in the area of fast fashion.
Companies that had already started investing in their e-commerce operations before the COVID-19 pandemic hit the country are generally seeing better chances of minimising sales losses in the current environment by leveraging online sales. Some of the leading jewellery players have been developing more sophisticated ways to exhibit their portfolios online, exploiting the visual opportunities to engage consumers through digital interactions.
The coming years are expected to see a gradual sales recovery, as society and the overall economy try to rebound from the negative effects of the COVID-19 pandemic and the measures implemented to control its spread. Store closures hit players particularly hard, with some small companies seeing a significant decline in their numbers, but franchisees also seeing their operations at considerable risk due to the difficulties in renegotiating better conditions of payment for fixed costs.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Personal Accessories industry in Brazil with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Personal Accessories industry in Brazil, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our personal goods market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.