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Argentina Retail Splits in June as Wholesale Hits Series Low and Malls Contract

INDEC’s June report signals fragile demand tied to eroded purchasing power.

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49% MÁS. En el primer semestre del año, la cantidad de productos vendidos por sitios digitales dio ese salto y movilizó casi 204 millones de productos en el país.
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Overview

  • Wholesale cash-and-carry sales fell 1.8% from May and 8.4% year over year, reaching the lowest seasonally adjusted level since the series began in 2017.
  • Supermarket sales rose 0.2% month over month and 0.8% year over year, yet the trend has been flat since March with a slight trend-cycle dip, and category data show declines in dairy, produce and cleaning items alongside gains in meats and clothing.
  • Shopping centers posted a 4.5% real year-over-year drop, their first interannual contraction since November 2024, with notable weakness in entertainment, sporting apparel and electronics.
  • Payment behavior shifted away from cash and credit cards, debit card use even slipped in nominal terms, and only other electronic options such as transfers and QR payments increased.
  • June nominal supermarket sales totaled 2,009,502,292 thousand pesos, large-format chains accounted for 85.4% of that amount, and payrolls reached 99,880 salaried workers.