The Commercial Federation of Córdoba (Fedecom) published a report in which it indicates that during the month of August in our province there was a significant drop in retail sales compared to the month of July: 4.7% less. This could be explained by the sustained rise in prices in recent months. It should be remembered that private estimates place inflation for the eighth month above 6 percent.
Although a recovery was expected due to transactions for Children’s Day, the president of the entity, Ezequiel Cerezo, said: “The performance of sales for Children’s Day already made us assume this behavior, because although they were positive, they were practically at the same level as last year when a slight recovery was seen after the pandemic.
For this reason, the commercialization driven by that event was not enough to boost the general behavior of sales and make them grow. “It is that the situation of uncertainty still dominates the macroeconomy. Families don’t know what to expect and remain cautious when consuming,” he added.
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The only two segments that had positive sales were “Perfume and cosmetics”, with a comparison of 2.5% compared to July, and “Pharmacy”, with an improvement of 1.9%.
Variations by item were as follows:
- – Food and drinks (-5.7%);
- – Sports and recreation items (-3.0%);
- – Footwear and leather goods (-4.1%);
- – Appliances and electronic items (-5.6%);
- – Pharmacy (1.9%);
- – Hardware, electrical materials and construction materials (-3.5%);
- – Clothing (-5.4%);
- – Toy store and bookstores (-4.3%);
- – Furniture and decoration (-7.2%);
- – Tires and spare parts (-9.1%);
- – Perfumery and cosmetics (2.5%).
Regarding payment methods, 61% of transactions were made with a credit card during August, revealing the economic situation of the families that required making payments for later; and 39% in cash.