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The retail market in Argentina has witnessed a decline in sales during January 2012, falling 1.6% from the previous month. Taken from a yearly perspective, Argentina's retail market is rising and has witnessed an increase in retail sales of 13.4% compared with 2011.
Argentina's retail figures in 2008 boasted a value of US$191 billion, and this is expected to have grown substantially by the end of next year, with forecasts suggesting that the industry will hit US$214 billion in 2013. There are a number of factors which are contributing to growth in the Argentinean retail market. One of the main factors which seems to be aiding spending in the retail sector is that banks have started offering more flexible payment options to consumers.
In recent years the global economic recession has had an effect on the retail sector in Argentina, especially with the tourism trade. Tourists are estimated to have spent 25% less in March 2009 as compared to the same time in 2008, with the industry generating US$3.3 billion of revenue for the retail sector during 2008.
Most subsectors of Argentina's retail industry are growing, with the exception of automotive sales, which is expected to register a decline of 4% between 2008 and 2013, reducing sales from US$6.82 billion to US$6.56 billion. The food and beverage industry, OTC pharmaceutical sales and consumer electronics are all expected to witness growth during the same time period.
Find out more about the Argentinean Retail Market.
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