Retailing in Honduras continued to recover in 2022 in the wake of the pandemic. The industry proved highly resilient despite inflation and high levels of poverty in the country.
The retail sector in Honduras continued its bounce back from the pandemic. In current terms, retail sales growth was actually higher in 2022 than in 2021 - although, when viewed in constant terms (ie stripping out the effects of inflation), sales growth dipped slightly.
Rural to city migration has evolved over the years and is now a severe problem because of the government’s inability to produce sufficient formal employment for the economically active population. As such, the informal market in Honduras is fairly large, mostly consisting of marketplaces and street vendors.
Retail sales in Honduras are expected to continue to post positive sales growth over the forecast period. Retail e-commerce is projected to record the strongest gains, although certain store-based channels, such as sports good stores, convenience stores, and warehouse clubs, are also expected to post healthy growth.
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Retailing
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See All of Our DefinitionsThis report originates from Passport, our Retailing research and analysis database.
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