Despite the inflationary impact e after six years of decline, mass consumption closes 2022 on a positive note: growing by 1.9% compared to the previous year, according to data processed by the consulting firm Scentia.
That was the annual closing of sales at nearby supermarkets and self-services, after accounting for the month of December. At that time, beyond the greater consumption for the holidays, the balance was one decline of 1.1%, explained by a 3.2% increase in department stores and a 4.7% decline in local businesses.
“In line with what was assumed, mass consumption manages to close positively at +1.9% in 2022, after six years of retirement. In this way, part of what was sold in the 2016-2021 period is recovered”, commented Osvaldo del Rio, president of the consultancy firm specializing in the collection of information in various formats for companies.
“Although December had a contraction of -1.1%, what happened in the first seven months of the year has left a strongly positive basis which made us assume this result,” explained the analyst. .
Consulting data show that especially in the first half of the year, The interior of the country has given good results based on the good performance of regional economies, domestic tourism and sales in border areas, among the most relevant carriers.
According to Scentia, “both supermarket chains and independent self-services closed the year positively (3.1% and 0.8% respectively), despite the decline recorded in recent months in this local format”. “Only the bins for hygiene and cosmetics and for cleaning clothes and the house had a recoil, although not very important,” he said in a report.
In December, the spirit of the consumer tried to overcome the fall in purchasing power of wages, which tend to lag behind inflation. The weighted average shelf price in the last month of the year, according to Scentia, increased by more than 96%, in a trend that is linked to the inflation data published by INDEC. In March, the curve reached 52.5%.
Consultant Abeceb explains that consumption has two key factors: the purchasing power of wages and financing options. “In this context, the real wage in 2022 has not lost as much as expected against the inflation due the opening of parities and ongoing negotiations. It ends the year at -0.4% for private registered workers, which partly explains the support of mass consumption and semi-durable goods,” she said.
From the point of view of the director of the consultancy firm Focus Market, Damián Di Pace, “the month of December marked a twofold trend in domestic consumption. In general, retail sales grew by 2.7% in that period”, has explained.
“In case of department store sales also grew by 3.5%, aided by the agreement on fair prices, the World Cup matches and the recomposition of income with an increase in the minimum wage, retirements, bonuses and reinforcements of social programs. However, in formats where fair pricing is not there, sales slowed down and ended up declining,” she explained.
Source: Clarin
