Retail sales of SMEs fell 0.2% in August, accumulating a 2.4% decline in 2023

Retail sales of small and medium-sized enterprises fell 0.2% year-on-year in August, according to a sector survey. Compared to July, activity decreased by 2.7%, accumulating a contraction of 2.4% in the first eight months of the year. The Argentine Confederation of Medium Enterprises (CAME) attributed the decline to reduced purchasing power, rising tariffs, and family indebtedness. 47.4% of merchants indicated that their activity remained stable compared to August of last year, although this percentage fell by 0.7 points since July. 46.5% reported a worsening of their situation, while only 6.1% saw an improvement. For the next 12 months, 43.9% expect economic stability, 42.8% anticipate improvement, and 13.3% foresee deterioration. Regarding investments, 57.9% believe it is not a good time to invest. Four of the seven sectors analyzed by CAME showed year-on-year growth, with Perfume standing out with an increase of 12.8%. In contrast, Bazaar and decoration recorded the largest decline with a decrease of 4.8%. Online sales of businesses with physical stores grew 17.6% year-on-year in August, showing a 0.4% improvement compared to July.

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