ARGENTINA. While sales decline in all sectors, footwear is on the rise
Not only is the price increasing, but consumption has also risen in quantity.
This is stated in the latest report from September 2023 by CAME -Argentine Confederation of Medium-Sized Enterprises-.
While retail sales of small and medium-sized enterprises fell by 5.1% in the past September, resulting in an accumulated decrease of 2.6% in the first nine months of the year, the FOOTWEAR and LEATHER GOODS sector saw an increase of 4.3% in year-on-year comparison.
It is the only sector that showed positive results, surpassing others like Household Goods, Perfumery, Hardware, Textiles and Apparel, Food and Beverages, etc.
This behavior is presumed to be driven by the arrival of spring, with the first seasonal purchases. Some stores indicated that purchases for Mother's Day might have been anticipated to hedge against upcoming price hikes. Other retailers expressed that the increase in September sales was due to very low sales in the previous month of August.
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