Strong Growth in Mexican Retail Sector

Oasis Shopping Centre, Mexico City
[Oasis Shopping Centre, Mexico City]
This July, nominal sales for retail outlets that have been operating for over one year increased by 10%, while the increase for all outlets (including those that have opened in the last 12 months) increased by 13.5% compared to the same month in 2015. July now represents the 22nd consecutive month of growth in the retail sector and the largest year-on-year increase since 2011.

This positive result can be attributed to an increase in the real minimum wage of 1.8% in June along with accelerated growth in credit available to consumers (12.3%).

Aggregated sales for 2016 (up to July) grew to $833,900m MXN (approx. £35,903m).

The rise was led by department stores (including Sears, Liverpool and Palacio de Hierro) that grew by 12.4%, followed by supermarkets, including Chedraui, Soriana, Comercial Mexicana and Walmart – the latter the being largest supermarket in terms of sales thanks to its aggressive pricing, marketing and e-commerce.

Sources:
El Economista; Tiendas de la ANTAD tienen su mejor julio en ventas desde 2006 (10/8/16)
El Financiero; Ventas de la ANTAD saltan 10% y estiran buena racha (10/8/16)
ANTAD Press Release: http://www.antad.net/documentos/ComPrensa/2016/JULIO2016.pdf