The measurement at constant prices marked a decrease of 2.9% annually, in November, in the SME retail sales, thus completing 11 consecutive months on leave. For the January-November period, trade accumulates a 2.4% retraction compared to the same months last year, while in the Monthly comparison, sales fell 2.2%.
The electoral climate placed extreme caution on consumption, but what had the most impact on the month’s decline were the strong price increases that generated a clear loss in purchasing power of family income. He was especially noted in the demand for food and beverages.
The incentives of e-commerce offers that were made available to consumers at the beginning of the month, with financing that encouraged the sale of durable goods for three days, were not enough to change the sign of the sales trend.
The exchange shocks did not help the dynamics of retail sales, especially the purchase of higher value goods, because the dollar captured money that could have been used for that consumption.
Of the seven items analyzed, three escaped the general trend and grew in the annual comparison, and the remaining four declined.
This emerges from the SME Retail Sales Index of the Argentine Confederation of Medium Enterprises (CAME)prepared based on a monthly survey among 1,320 retail businesses in the country, carried out from November 30 to December 1.
Consumption: which were the items with the greatest drop in sales
In November, three of the seven items recorded year-on-year increases in sales, led by Bazaar, decoration, home textiles and furniture (+4.3% annually). On the other hand, four branches fell, with the largest decline in Food and drinks (-7.7% annually).
Sales fell 7.7% annually in November, at constant prices and accumulated a decrease of 3.3% in the first 11 months of the year compared to the same period in 2022.
In the month-on-month comparison, they grew 0.4%. The fall in the purchasing power of income is affecting the consumption of basic goods. People took care of their expenses, looked for offers in hypermarkets, He divided purchases, replacing first brands with second and third ones. In the butchers sector, the strong price increases drove away buyers, the same thing happened in greengrocers, with some green products and tomatoes. Businesses warned of increases of up to 40% in products such as yeasts, additives, cheeses, cold cuts, nuts, candy, and other more basic products such as bread. Those who had an excellent month were the border shops with neighboring countries, especially with Uruguay.
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Source: Ambito
