Euromonitor: Until 2023, Brazil will pass the 7th to 5th place in consumption

The Brazil should become the fifth largest consumer market in the world in 2023, to overtake France and the United Kingdom, projects the market research firm Euromonitor International.

The consultancy estimates that some years ahead of that position, in 2030, the total expenditures of Brazilians to reach $ 2.7 trillion. Communication, health goods, medical services and education are some of the sectors benefited by an increase in income, the decrease of families and an ageing population.
"Despite a slowing economy and high inflation that triggers a weak growth in household consumption, overall, long-term prospects for Brazil as a consumer market remain positive," say the authors of the study in a report.
The expansion in the long run will be sustained by the growth of the middle class and the predominance of urban population. Considering the profile of the Brazilian consumer, Euromonitor expects a high level of discretionary and sas a provision undresses to take loans and credit for purchases.
Until 2020, the real growth of income and consumption is relatively uniform in all regions, but North and Northeast should reach levels a bit higher. In the same period, the consumption of the poorest families will increase more rapidly than in higher income families, resulting in greater income equality.
"A large number of low-income families increasingly can afford modest discretionary spending, like Autos, footwear and garments popular and affordable meals," says the study, which also suggests great potential in the luxury goods market.