Retail battle goes online
The Brazilian retail battle has arrived to the online world. After Magazine Luiza openes 44 stores in the same day of 2008 in São Paulo city, a market owned by Casas Bahia, it’s time to strike back. Casas Bahia arrived to the online world, opening its e-commerce site almost ten years after Magazine Luiza. Traditional in the online world, Luiza sold R$ 336 million through the internet in 2007, or 12% of its total sales of R$ 2.8 billion. Ponto Frio, another heavyweight competitor, is also present in the internet. In Q4 last year, its online sales reached R$ 39.4 million and total sales topped R$ 1.08 billion. Casas Bahia’s online shop demanded R$ 3.7 million in investments and the chain forecasts e-commerce will account for 2% of its sales, or R$ 280 million, in 2009.
Fonte: Época Negócios