Fernando Savore, vice president of the National Federation and the General Confederation of Grocers, explained on Canal E how consumption in supermarkets and stores has changed due to inflation and digitalization. He noted that large purchases have decreased, favoring small restocks in neighborhood stores. He also highlighted the rise of virtual payments and price adjustments in food.
In an interview with Canal E, Fernando Savore, vice president of the National Federation and the General Confederation of Grocers, described the shifts in consumption patterns in Argentina. According to Savore, habits have changed significantly: 'People no longer make that big purchase,' referring to biweekly, monthly, or weekly shopping that has been replaced by more frequent and smaller restocks in neighborhood stores.
Savore downplayed the role of hypermarkets as main beneficiaries of this economic scenario. 'Hypermarkets can say what they want, but the indicators are not that,' he stated. In November, hypermarkets recorded a 2.4-point drop, while stores grew 9%.
Another key aspect is inventory management. Previously, merchants stockpiled products in warehouses to protect against aggressive increases, but now they only keep stock for one week: 'I no longer have merchandise in the warehouse except for the week's restock.'
Digitalization has transformed payments. Savore revealed that 'out of every 10 customers, 8 pay with a virtual format.' Pre-pandemic, 70% used cash and 30% virtual; afterward, it reversed. Even suppliers accept digital payments, like transfers or QR codes, and Savore warned: 'The merchant who today only wants to receive cash won't sell anything.' This also enables traceability: 'Everything sold is all on the books.'
Regarding inflation, January saw widespread adjustments: 2.5% in dairy, over 3% in packaged foods, 5% in cold cuts, and 6% in cleaning and personal hygiene. For February, 2.7% increases in dairy are expected, accumulating over 5% in two months. Savore noted that these rises, added to utilities and transport, impact family budgets.
Finally, he highlighted retirees' adaptation to virtual wallets: 'They learned, they learned.' He mentioned promotions like Cuenta DNI, which offers 20% discounts on Fridays and attracts older adults.
