Number of empty shops soars in capital amid consumption woes

Ongoing consumption woes are taking their toll on retailers in the capital, a new survey shows.

According to a report carried out by the Argentine Chamber of Commerce (Cámara Argentina de Comercio y Servicios, CAC), the number of empty shops in May and June in the main commercial areas of Buenos Aires City increased 40 percent when compared with the same two months last year. 

A total of 238 shops for sale, for rent or closed down were detected in the surveyed areas. When measured against the previous two months when there were 2012 empty shops, an increase of 12.3 percent was verified.

Analysing exclusively the shops offered for sale or rent, the latter were 4.3 percent down when compared to the previous period (March-April) while increasing 18.9 percent as against May and June last year. 

As for shops for sale, there was no change from the previous two months but an increase of 37.5 percent by comparison with May and June last year.

The Chamber of Commerce survey includes the city’s main shopping arteries.

Losses over the last two months were registered in Av. Córdoba (4000-5300), Av. Rivadavia (2000-2800, 4900-5400; 6300-7400; 11000-11600) and the Florida pedestrian precinct while there were advances in the same period in the avenues Cabildo (4800-5500), Corrientes (200-6800), Santa Fe (700-5300), Avellaneda (2800-3800) and Pueyrredón (0-1200).  

La Plata

Data from the FEMAPE (Federación de Mayoristas y Proveedores del Estado de la Provincia de Buenos Aires) grouping wholesalers and retailers supplying the Buenos Aires Province government points to a similar shift in the provincial capital.

Last May and June, in comparison with the same months surveyed last year, the number of inactive shops – whether sold, rented out or simply closed down – in the main shopping areas of La Plata grew by 50 percent, while up 100 percent from the previous two months (last March and April).

During last May and June a total of 18 shops without commercial activity in the surveyed areas were detected.

–  TIMES/NA