Clothing retail sales increase 38.5% in Argentina during August

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Sep 15 2021

Retail sales of Clothing, lingerie and accessories in Argentina grew 38.5% year-on-year in August according to the most recent report from the Argentine Chamber of Medium Enterprises (CAME).

Retail sales of apparel in Argentina rose in August. – Pixabay

In its comparison with July of this year, the item registered a contraction of 3% and compared to August but in 2019 (prior to the pandemic) the sales of the sector are 5.9% below.

According to the CAME, the lower number of settlements determined fewer units sold, but an increase in turnover at constant prices. “The arrival of the heat anticipated the consumption of spring, which found the shops in full swing. In any case, it was the sector where businessmen most observed the lack of money in the street ”, they remarked.

In the case of Sports and recreation clothing and items, sales grew 26.4% annually at constant prices in August of this year and 12.4% compared to August 2019. If you take the first 8 months of the year , the item shows an annual growth of 15.3% but a drop of 4% compared to 2019.

Overall, retail sales in the eighth month of the year grew 9.1% year-on-year. 40.6% of the businesses surveyed declared to be better than in 2019, although sales are still 6% below that year.

On the other hand, the CAME detailed that consumption continued to recover although “closely tied to the restrictions of banks in financing with credit cards, and electoral uncertainty, which had an impact above all on the sale of durable goods.”

Of the 11 sectors analyzed, nine ended the month with annual increases, while two fell. According to the chamber, the stability of the dollar, the salary increases, the lower inflation of the month, and the greater injection of money from the State to households had a positive impact on sales.

The factors that held back consumption were electoral uncertainty, banks’ restrictions on consumer credit, family income problems, and the lesser quantity and variety of merchandise on the premises.

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