Luxury items? Doing fine thank you.
A recent survey by consulting firm PonteEstratégia revealed that middle class Brazilians(earning R$1,500-R$5,000 per month) spend 30% to 60% of their income on luxury items.
On the same note, GFK institute and MCF consultancy announced that the luxury market in Brazil will grow more than the economy as a whole; 23% against the GDP forecast of 7.2%, Last year, sales in the sector grew 12% YoY, and average consumer spending was R$2,726.00 per purchase.
It is difficult to understand how a country with such high economic rates, repeatedly on the news with stories of success can be the 3rd worst in the world in terms of income inequality.