Mass consumption sales in Argentina dropped 2.7 percent year-over-year in June and closed the first half with a cumulative decline of 2.9 percent, according to consultant Scentia. The electronic channel was the sole exception with a 34.8 percent rise.
Scentia’s survey showed that consumption recorded six consecutive months of year-over-year declines. On a monthly basis, sales fell 2.4 percent from May.
Chain supermarkets posted the largest contraction at 4.6 percent for the semester. They were followed by wholesalers at 3.8 percent and independent self-service stores at 3.2 percent. Corner stores and kiosks dropped 2.3 percent while pharmacies remained nearly stable with a 0.3 percent decline.
In contrast, electronic commerce rose 34.8 percent driven by food products, which advanced 48.8 percent. Consumer confidence fell almost 5 percent in July and hit lower-income households hardest.
