Research

Puerto Rico Retail Report, H1 2022

August 26, 2022

Retail sales have remained relatively stable over the last 10 years. Reduced sales correlate with the implementation of sales taxes, natural disaster and Covid. YOY retail sales are expected to grow 5-6% over the record sales of 2020 that were boosted by Covid recovery funds. With record low unemployment, physical retail is alive and well in Puerto Rico and the consumer is in a good position to continue that trend.

National and regional retailers are sensing this strength and are expanding there store count and foot print size significantly over prior years.

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