ANTAD Reports a 1.7% Decline in Retail Sales, First Since 2021

Retail sales at the same stores in Mexico fell 1.7% in February 2025 compared to the same month in 2024, marking the first decline in four years, according to data from the National Association of Supermarkets and Department Stores (ANTAD). The last recorded drop occurred in February 2021, when sales declined 1.5% due to the COVID-19 pandemic.

Department stores, including Liverpool, El Palacio de Hierro, Sears, and Coppel, reported a 2.5% decrease in same-store sales and a 1.3% drop in total sales. Supermarket chains such as Soriana, La Comer, and Chedraui saw a 1.8% decline in same-store sales but managed a 0.9% increase in total sales. The specialty retail sector, which includes pharmacies and other retail chains, experienced a smaller 0.5% decline in same-store sales while achieving a 2.9% growth in total sales.

For the first two months of 2025, same-store sales decreased 0.2%, whereas total sales grew 2.4%.

Analysts attribute the decline to weakened consumer spending amid an economic slowdown, declining formal employment, and decreased consumer confidence. Additional uncertainty stems from US tariff and immigration policies, which have contributed to cautious spending behavior.

Mexico’s gross domestic product (GDP) shrank 0.6% in the fourth quarter of 2024 compared to the previous quarter, although the economy grew 1.2% for the full year.