Sales for Father’s Day 2024 registered a drop of 10.2 percent compared to last year, measured at constant prices, according to a survey prepared by the Argentine Confederation of Medium Enterprises (CAME).
The traditional celebration in honor of parents, this year was not spared from the impact of the recession on the Argentine economy, so despite the fact that “63% of businesses carried out special promotions”, sales had a sharp decline compared to to the 2023 celebration.
From the union-business entity, they stated that “there were interest-free installments in many businesses and good discounts for cash payments, but people were still measured” and indicated that “a highlight of the date were the collective purchases, among several members of families, to save.
The average ticket amounted to 31,574 pesos, doubling last year but in the face of much higher inflation, which in May reached an interannual variation of 276.4 percent, as recently revealed by the National Institute of Statistics and Censuses (INDEC).
The CAME analysis provided that “for retail trade it did not help that the date coincided with a long weekend” and highlighted that “77% of the businesses consulted said that the celebration will help to have better sales in June although, probably , will not be enough to avoid a decline compared to 2023.”
The performance of each sector
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-Footwear and leather goods: Sales fell 4% in real terms compared to Father’s Day 2023, with an average ticket of $40,657.
Cosmetics and perfumery: Sales sank 37.4% compared to last year, at constant prices, with an average ticket of $24,429.
-Appliances, household appliances and audio and video equipment: The decline was 6.1%, always at constant prices and compared to Father’s Day 2023, with an average ticket of $43,032.
Equipment, peripherals, accessories and cell phoness: sales collapsed 29.2% in real terms with a ticket close to $30,104.
-Dress: Sales rose 11.1% in real terms compared to the previous Father’s Day, with an average ticket of $29,379.
-Bookstores: Operations decreased 11.9%, compared to the same celebration in 2023 and at constant prices, with an average ticket of $18,233.
