ANTAD sales grew by 1.2% in July

Mexico City. Sales at the National Association of Department Stores (ANTAD) in July increased by 1.2 percent at comparable stores, i.e. those that have been in operation for more than a year, a figure that showed a slowdown for the second consecutive month.

Despite the various sales campaigns launched by the country’s various retail chains during the summer, the firms affiliated with the organization have failed to attract the attention of consumers.

The association indicated that sales through the seventh month of 2024 amounted to 905.9 billion pesos.

The lower growth rate observed in July, just as the vacation period for basic education levels begins, was not only lower than the 3.3 percent reported in June, but also compared to the 6.3 percent recorded in the seventh month of 2023.

Although last year sales in comparable stores in the same season performed well, they also showed a slowdown compared to the same period in 2022, when sales grew 11.7 percent.

The data for July 2024 represents two consecutive periods with lower sales dynamism, as ANTAD sales in May were 8.1 percent.

Total store sales, which include all stores opened in the last 12 months, grew 4.0 percent compared to the same month in 2023.

The data also showed less dynamism compared to June 2024, when ANTAD reported annual growth of 6.4 percent.

The seventh month result was also lower compared to the 9.2 percent reported in the seventh month of 2023 and the 14.2 percent growth recorded in the same period of 2022.

The association commented that by the end of 2023, the commercial chains that make up ANTAD together group more than 48 thousand stores.

While the total sales area of ​​these establishments amounts to more than 22.1 million square meters.

It is worth noting that the Monthly Indicator of Private Consumption (IMCP) for May showed a monthly decline of 0.4 percent, while the annual rate showed an advance of 2.8 percent.

The most recent data show that household consumption has been less dynamic in recent months, although the appreciation of the dollar, which occurred last June, has also had an influence, since the local currency strengthened in the first five months of the year.