SME retail store sales were recorded in January an annual decline of 28.5%, while in the monthly comparison it fell by 6.4%, according to a survey conducted by the Argentine Confederation of Medium-sized Enterprises (CAME).
January marked a decline of 28.5% on an annual basis, measured at constant CAME prices, while on a seasonally adjusted monthly basis there was a decline of 6.4%, driven by the poor performance of the commercial sector, characterized by few transactions and a poor presence on the premises, according to the business entity.
The results are derived from the CAME SME Retail Sales Index, prepared based on a monthly survey of 1,256 retail businesses in the country, carried out on February 1 and 2, 2024, the entity said in a statement released today.
From CAME they highlighted that despite this challenging scenario, The textile sector has emerged as an exception, achieving an increase of 0.9% compared to January of the previous year (on that occasion there had been a decline of 14.4%) and attributed this increase to the combination of attractive offers and purchases made in large numbers by international tourists who toured the city of Argentina.
On the other hand, they underlined that for the average consumer, in the month of January, everything is expensive, which has led to a more careful selection of purchases, privileging the most urgent needs to protect income.
By sectors, six of the seven items surveyed in December recorded declines on an annual basis in sales, where the greatest annual decline was recorded in Pharmacies (-45.8%), followed by Food and Beverages (-37.1%).
The companies consulted agree that January is a lost month. “Especially due to economic uncertainty and the sharp increase in prices, which was not accompanied by an adjustment in wages.”
Even in tourist centers the decline is felt. The dynamics this summer are shorter stays and “petrol tourism”, which has become a trend in the main destinations. Declines are perceived both in mass consumption and in gastronomy
Source: Clarin
