Sunday April 9, 2023 | 12:15 p.m.
SME retail sales fell 0.1% annually in March, measured at constant prices, and thus add up to a decline of 0.4% in the first quarter of the year, compared to the same period in 2022. In the monthly comparison, businesses sold 0.7% more than in February, according to the Survey of the Argentine Confederation of Medium Enterprises (CAME).
Four of the seven items surveyed saw their sales decrease in the interannual contrast, registering the greatest decrease in Clothing (-10.1%), while three items ended up rising, with the highest increase in Pharmacies (+8.2%).
In the sum of the first quarter, compared to the same period in 2022, increases prevailed, with four items up and three down. The items that grew and fell the most were the same as for this last month, Pharmacies (+8.9%) and Clothing (-11.8%), respectively.
In these first months of the year, households maintained their levels of consumption of food and beverages, made purchases of durable goods that they had planned, especially electronics, and avoided less urgent products such as clothing, footwear, decoration, and home textiles.
This is how it emerges from the SME Retail Sales Index of the Argentine Confederation of Medium Enterprises (CAME), prepared based on its monthly survey among 1,184 retail businesses throughout the country, carried out between April 3 and 5.
Sales in March grew 1.5% annually, but fell 1.1% monthly, at constant prices. For the first quarter of the year they accumulate an increase of 2.6% compared to the same period last year. Although the month was better than in 2022, traders expressed great concern about prices, especially for meat that rose strongly in February and March, and they are not being able to transfer all the increases to the amounts. There was more consumption in large stores where people took advantage of aggressive offers and promotions, and that also reduced sales to neighborhood stores. Likewise, the month left a positive balance.
