Business · Economy · 6 hrs ago
Food retail sales rose after Brazil banned online betting, Abras says
Brazil banned online betting on September 25.
The Brazilian Supermarkets Association, known as Abras, says households then bought more essential goods, including rice, cooking oil, pasta and coffee.
Food retail sales rose 6.5% year on year in the week of October 5 to 11, across supermarkets, wholesale retailers and other food shops.
The increase continued the following week, when sales were up 6.3% across Brazil compared with the same week a year earlier.
Abras also points to Central Bank data showing Pix transactions fell 10% when the ban took effect.
The figures show changes after the ban, but do not establish that the ban caused the increase in food purchases.
Food retail sales in Brazil rose in the weeks after the country banned online betting, according to the Brazilian Supermarket Association (Abras).
Abras reported that households bought more essential goods, including rice, cooking oil, pasta and coffee.
For the week of October 5 to 11, food retail sales were up 6.5% nationwide compared with the same period a year earlier.
For October 12 to 18, sales remained higher, rising 6.3% year on year.
Abras said the figures were strongly related to a Central Bank finding that Pix transactions fell 10% after the ban.
- Who
- Abras reported the sales increases across Brazil’s food retail sector.
- What
- Food retail sales rose after Brazil banned online betting. Abras said households consumed more essential goods.
- When
- The ban took effect on September 25. Sales increases were reported for the weeks of October 5–11 and October 12–18.
- Where
- Brazil.
- Why
- Abras said the sales increases were strongly related to the ban and a 10% reduction in Pix transactions reported by the Central Bank.
This story does not have two clearly opposing sides.
Brazil banned online betting.
Food retail sales rose 6.5% nationwide compared with the same period a year earlier.
Food retail sales rose 6.3% nationwide compared with the same period a year earlier.
- Ban date
- September 25
- National sales growth
- 6.5% in October 5–11, year on year
- National sales growth
- 6.3% in October 12–18, year on year
- Pix transactions
- Fell 10%, according to Central Bank data cited by Abras
- Essential goods
- Rice, cooking oil, pasta and coffee