The value of online retail sales advanced 42% in the third quarter of this year compared to the same period in 2020, according to data from Rede, payment means company of Itaú Unibanco, released this Tuesday (7).
The performance is higher than the 24% of physical sales, despite the movement to reopen activities in the period after the reduction of restrictions imposed by the pandemic.
Paula Cardoso, president of the Network, says that the advancement of online is a trend that is here to stay, a change in behavior, and says she doesn’t believe in a movement to lose steam in the use of digital means of payment.
“I don’t see, at least in the short term, a slowdown. I think there has really been a change in behavior. We have an army of 80 million Brazilians shopping online. There are a lot of people,” says the executive.
According to Cardoso, the share of online retailing rose from 4.5% before the pandemic to around 8%, but there is still plenty of room when compared to other countries. She cites data from the company Euromonitor, which show a 35% share in South Korea and England.
On the evolution of means of payment, the president of the Network highlighted the growth of Pix and digital wallets and stated that the country should have a scenario of replacing the use of physical cards in a very short time.
“We already see digital wallets playing a very strong role. The integration of everything that can be payment, focused on a purchase service journey, whether online or physical, is how we are seeing this evolution.”
The number of transactions with digital wallets, specifically Google pay, Apple pay and Samsung pay, doubled from July 2019 to September 2021, with an average spend practically stable. The use in food, markets and drugstores and cosmetics stands out. According to the Network, 72% of users are men and 28% are women.
The survey also shows that, in total, the value transacted by retail in the third quarter of 2021 grew 27.5% over the same period in 2020 and 11.9% over the second quarter of this year, according to data based on customers of the company.
Sectors in recovery
In comparison with the same period last year, the Network highlights issues that reflect the resumption after the worst moment of the pandemic, with others that show changes in behavior.
In the first case, there are increases compared to the same quarter of last year in physical and online expenses with airline tickets (149.9%), accommodation (109.7%), bars and clubs (94%) and marriage agencies and buffets (80%). All with performance returning to the trajectory before the pandemic.
Online-only expenses in restaurants grew only 18% compared to the same period in 2020, but there was a 428% jump compared to 2019, also showing a new consumption behavior in the country.
She also highlights other segments that are on the rise, such as construction materials, office furniture, flower shops and laboratories, also driven by changes in consumption during the health crisis.
In releasing the data, the chief economist of Itaú Unibanco, Mario Mesquita, spoke about the macroeconomic environment in the period, marked by a 0.1% drop in GDP (Gross Domestic Product) compared to the previous quarter.
Mesquita highlighted the bank’s activity indicator (IDAT), which showed, in the period, the first drop not directly related to the isolation measures caused by the pandemic.
According to him, the indicator has lost dynamism since mid-September, which would be mainly related to the increase in inflation, which affects the confidence of families and reduces their purchasing power.
“We think that this explains the fact that Idat has been walking sideways since mid-September, a period in which there was an increase in mobility.”
He claims that part of the 4.7% economic growth forecast for this year by the bank can be transferred to 2022 depending on the pace of recovery in various sectors. For next year, Itaú expects a contraction of 0.5%.
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