Argentina: impact of COVID-19 on SME retail sales 2020-2021

According to a survey of small and medium-sized enterprises (SME), Argentina registered major drops in retail sales in April 2020, as a result of the onset of the coronavirus pandemic and the ensuing lockdown measures. That month, nine out of twelve retail categories surveyed saw a decrease of over 60 percent in sales volumes, compared to April 2019. In July and October, small and medium-sized retailers experienced smaller sales declines, but the volumes still did not pick up to the quantities registered in the previous year. Most notably, luxury sectors such as jewelry and watches experienced the largest losses, with negative growth rates of up to 36 percent in October. Argentina's poverty levels also worsened during this time. By April 2021, all categories presented a positive growth.