Avellaneda Avenue in Buenos Aires has become a popular destination for those seeking fashion bargains. Many of those looking for discounted clothes are visiting this area for the first time, eager to snap up items for a fifth less than at shops in the more upmarket Santa Fe Avenue district. Lines of up to 100 people form at stalls with people buying trendy imitations, parallel imports, bulk goods and even black-market pieces in an attempt to help them make ends meet. Avellaneda Avenue has become the shopping destination for a middle class in crisis.
Over the past five years, Argentina has been subject to some of the highest inflation rates in Latin America due to currency exchange controls and economic instability, with the Covid-19 pandemic only exacerbating the situation. The fashion sector has been hit particularly hard. According to the National Institute of Statistics and Census of Argentina (INDEC), nationwide apparel prices increased by 118 percent in the past year, while headline inflation grew by 83 percent.
Yet puzzlingly, the fashion market in Argentina is expected to grow by an ostensibly impressive 8.1 percent from $11.4 billion in 2023 to $12.3 billion in 2024, according to market research provider Euromonitor International.
The apparel and footwear market in Colombia rebounded faster than in Brazil or Mexico, but Chile and Peru may not recover to pre-pandemic sales levels for years. Read the full story about where the region’s next growth opportunities are. #linkinbio
#LatinAmerica #EmergingMarkets
Over the past five years, Argentina has been subject to some of the highest inflation rates in Latin America due to currency exchange controls and economic instability, with the Covid-19 pandemic only exacerbating the situation. The fashion sector has been hit particularly hard. According to the National Institute of Statistics and Census of Argentina (INDEC), nationwide apparel prices increased by 118 percent in the past year, while headline inflation grew by 83 percent.
Yet puzzlingly, the fashion market in Argentina is expected to grow by an ostensibly impressive 8.1 percent from $11.4 billion in 2023 to $12.3 billion in 2024, according to market research provider Euromonitor International.
The apparel and footwear market in Colombia rebounded faster than in Brazil or Mexico, but Chile and Peru may not recover to pre-pandemic sales levels for years. Read the full story about where the region’s next growth opportunities are. #linkinbio
#LatinAmerica #EmergingMarkets
