The first official consumption data for the year have emerged a sharp decline in the population’s purchasing level. This occurred, due to the inflationary impact, both in supermarkets, wholesale shops and shopping centres. In the month of January, according to the National Institute of Statistics and Census (INDEC), sales in supermarkets – at constant prices – fell by 13.8% compared to the same month of 2023 for supermarkets.
The official information also included the sales indicator wholesale self-service, where the decline was 8.1% year on year, while for purchasing centers (expenditure) the drop was 21.3% Compared to the same month of the previous year.
This data adds to other private reports such as those from consultancy Scentia, which have reported declines in volumes sold in both January and February. The cumulative data for the first two months of the year therefore highlights an average drop of 3.9%. Meanwhile, other business sector surveys, such as that of the Argentine Chamber of Medium-sized Enterprises (CAME), also reported a 28.5% year-on-year decline in the retail sales index.
According to the consultancy company Abeceb, the next few months will not be encouraging for consumption. Salaries will be lower than inflation and, therefore, the market will adjust the amounts. This has an impact on items related to mass consumption such as foods and drinks (-0.5%). In the retail trade, with household appliances (-10.5%), this situation worsens because it also drags the advance of purchases due to the acceleration of inflation in 2023″, he notes in a report. “The automotive sector (- 17.4% of sales) will also have difficulty reaching its sales quotas on the domestic market, even if the decline will be mitigated by its international inclusion. In these activities, the recovery will be slight and will be conditioned by the recomposition of salaries, employment and financing, “he warned.
In supermarkets, wholesalers and shopping centers
Furthermore, of the 13.8% year-on-year decline at constant prices, which gives an idea of the volume sold, the organization reported that the seasonally adjusted series index showed a negative change of 3.4% compared to the month previous month and the index-cycle trend series recorded a negative change of 1.6% compared to the previous month.
The panel that makes up the official survey on supermarkets is made up of 94 companies with 3,132 points of sale. In the gondolas, The average ticket in January also explains the drop in consumption, having been 13,857 dollars, according to official data.
Total sales at current prices, according to official data, amounted to 1,103,083.4 million dollars, an increase of 248.4% compared to the same month of the previous year. In total sales, the item groups that recorded the most significant increases compared to the same month of the previous year were: “Meat”, with 293.8%; “Bakery”, with 292.4%; “Warehouse” and “Cleaning and perfumery items”, both with 282.3%.
As for the payment methods used by consumers In supermarkets, INDEC said cash sales at current prices amounted to $232,481,370,000, representing 21.1% of total sales. For their part, those made with debit cards amounted to 355,547,886 thousand dollars, which represent 32.2% of total sales and a positive change of 258.2% compared to the same month of the previous year. Sales at current prices paid by credit card, however, represented 39.5% of total sales and a percentage change compared to January 2023 of 292.3%. Finally, those made through other payment methods represent 7.2% of the total.
In the wholesale self-service sector, the channel that provides neighborhood self-service and also receives private consumers, total sales at current prices, in the month of January, amounted to $187,869.8 million, which represents an increase in 281.3% compared to the same month of the previous year. That is, above inflation.
In total sales at current prices, the item groups that recorded the most significant increases compared to the same month of the previous year, in this channel, were: “Bakery”, with 362.0%; “Meat”, with 353.0%; “Cleaning and perfumery articles”, with 311.8%; and “Others”, with 298.5%.
In himshopping trips, Finally, the decline in sales has been felt more sharply in an inflationary environment, when consumers prioritize purchases of food or more essential products. In shopping centers, then, total sales at constant prices for December 2016 reached a total of 4,705.4 million dollars in the first month of the year.
The items that drove sales in these mega stores were: “Clothing, footwear and leather goods”, which represented 36.3% of the total; followed by “Food court, catering and kiosks”, with 17.9%; “Sports clothing and accessories”, with 11.8%; and “Electronics, household appliances and IT”, with 10.7%.
Source: Clarin
