The retail trade in Latin America will grow by 3% until 2023, driven by Brazil and Mexico

Retail trade advances to a single figure in Latin America. Over the next five years, the sector's sales will evolve positively recording an annual growth of 3%, thanks mainly to the development of companies based in Mexico and Brazil.

On the latter market, the sales of the sector will record a rise of 6% according to a report of the consultant JP Morgan collected by Expansión . The paper explains that companies like Carrefour and CBD have managed to cope with the bad weather caused by a deflation of food prices, "putting the emphasis on personalized discounts, instead of a price war. ".

In Mexico, the sector will experience an annual growth of 3% mainly because of the evolution of the American company Walmart which, since 2016, is developing an expansion plan in the Aztec Market so to double its size over a period of ten years.

Walmart is the locomotive that drives the growth of retail trade in Mexico

Walmart not only increases its presence in Mexico, but it also does so in Central America with the goal of achieving a annual growth of 3% in new stores, 3% in comparable stores and 1% in e-commerce.

JP Morgan sees more opportunities for growth in the Mexican market especially among retailers who develop and market products for the lower social classes of the country.