Business

According to CAME, retail sales registered an increase of 9% year-on-year

Retail sales of small and medium-sized companies (SMEs) at constant prices registered a growth of 2.5 percent in October in the monthly comparison, while compared to the same month of 2020 the increase was 9.1 percent, as reported today by the Argentine Confederation of Medium Enterprises (CAME).


Retail sales of small and medium-sized companies (SMEs) at constant prices registered a growth of 2.5 percent in October in the monthly comparison, while compared to the same month of 2020 the increase was 9.1 percent, as reported today by the Argentine Confederation of Medium Enterprises (CAME).

The detail of the entity assured that “it was a good month for 57 percent of the businesses consulted, and especially, for those linked to Mother’s Day, although not all of them sold as they wanted.”

He also pointed out that the projection for the remainder of this calendar does not provide many certainties: “ It is not very clear yet what the trend will be for this end of the year, since October is usually a thermometer month, but this 2021 did not leave a very true picture ».

The SME Retail Sales Index indicates that the monthly increase was driven by the Perfumery and Cosmetics sectors (+ 10.3%), Footwear and leather goods (+ 7.6%) and Household appliances, electronics, computers, cell phones and accessories (+ 4.8%).

The good performance in October is explained in the increases of eight of the 11 items surveyed.

In relation to the same month of last year, the highest variation rates were in Toy stores and bookstores (+ 55.7%) and Clothing and sports and recreation articles (+ 50.4%).

Of the 11 items analyzed, six made progress, while five fell back.

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The biggest drop was in Tires and spare parts for cars and motorcycles (-14.9%), said the CAME.

Compared to the same period in 2019, sales fell 1.1 percent, with the biggest drop also in the Tires and auto and motorcycle spare parts sector (-23.8%).

The survey contributes that sales accumulate a 13.8 percent increase so far this year compared to the same months of 2020, although they remain 9.1 percent below the same period of 2019.

The business union entity reported that the results were obtained on the average of the monthly and annual variation rates reported by 725 businesses in the country between November 1 and 4.

Ethan Hansen

Ethan Hansen is executive vice president for finance and operations at Leilo Sports. Before joining PNC in 2021, he founded snewslog to help early-stage companies (Seed through Series B). Previously, Cohen worked in consulting (strategy and innovation), private equity (operationally focused investing) and investment banking (M&A).

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