The sophistication of the retail sector as a result of the increase in the number of high- and middle- income Brazilian consumers is evidenced by the increasing number of shopping malls. According to ABRASCE, the total sales of shopping malls in Brazil increased by 113.0% between 2006 and 2015, from R$50.0 billion to R$151 billion. During the same period, the number of shopping malls increased from 351 to 538, representing an increase of 41.0%. The charts below highlight the increase in the number of shopping malls in Brazil and their total revenues for the periods indicated:
Shopping malls are among the main destinations for purchases by Brazilian urban consumers, because they are able to concentrate conveniently in a single establishment, a variety of products that serve diverse interests, in addition to providing security, ease of access, parking and related services that are highly valued by consumers. Consequently, the monthly traffic of people in shopping malls has increased significantly. Between 2006 and 2015, the number of shopping mall visitors per month increased from 203 million to 444 million. ABRASCE predicts that the number of shopping malls will continue to increase. According to ABRASCE, 9 malls were opened in Brazil in 2015. Furthermore, according to data from ABRASCE, 30 new malls are expected to open in the country in 2016.