For the second year in a row, Argentinean supermarkets finished the year in recession. During November of 2000, supermarket sales were up 1.1% from one year earlier, yet they were off 4.8% from October. Diminished consumer power hit sales of discretionary and luxury items the most.
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According to Argentina’s national statistical institute, the strongest sales were basic food items, off brands, and sale items. Through the first ten months of 2000 there was a cumulative decline in supermarket sales of 3.7%. Supermarket sales for the period were valued at US$1.191bn.
Depressed sales levels are attributable to a combination of weak demand and declining prices in the food sector. So far in 2001 there has been no sign of relief from Argentina’s recession and it is likely to linger through most of the year.
By Steve Lewis, just-food.com correspondent
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