A private survey indicated that it was the worst year in two decades. The wage recovery was not enough to encourage consumer spending.
Mass consumption closed 2024 as the worst year in two decades: fell 18% year-on-year in December and accumulated a decline of 13.9% in twelve months, according to the consulting firm’s survey Scentia. The recovery in wages was not enough to relieve the pocketbook so that consumers could spend again on goods as in previous years.
It should be noted that in December 2023 inflation jumped 25.5%, after the devaluation decided by the recently assumed president Javier Milei. Despite the comparison with that complex moment, consumption in December 2024 fell 18% compared to 2023according to the Scentia report. 2024 was the worst figure since 2002, the consulting firm warned.
Now, in comparison with the previous months, November and October, consumption had fallen much more year-on-year, -20% and -20.4%, respectively. Which would imply that, in some way, there was a small reactivation due to the holidays, promotions and discounts that the banks trumpet.
Supermarkets and self-services
In the supermarkets chain, at the country level, in December 2024 versus that same month of 2023, the consumption It fell 17.3%, and as for the accumulated of the year, 14.5%. In relation to the self-servicemonth over month, fell 18.7%, and at the end of the year, 13.4%. As for the regions, the worst figures were for the interior of the country.
Which items suffered the greatest adjustment
In the comparison December of 2023 versus December 2024, drinks was the category that suffered a decrease of 24.4%, followed by drinks with alcohol 22.7%. After locating hygiene and cosmetics with 21% and cleaning clothes and home, with 20.7%.
Source: Ambito
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