Submarino predicts 40% increase in holiday purchases

Brazil's largest online retailer Submarino expects to process 280,000 purchases during the Christmas holidays this year, up 40% from 200,000 last year, the company said in a statement. Submarino said it expect the average sale to remain close to last year's 140 reais, he said, which would mean revenues of some 39mn reais for the period from November 15 to December 24, up 44% from 27mn reais last year. To prepare for the onslaught, Submarino is investing 500,000 reais (US$170,000 today) to upgrade its IT infrastructure and improve its logistics, Submarino general manager Flavio Jansen said.