Overview of Retail Sales Performance in July 2025
According to the National Institute of Geography and Statistics (Inegi), retail sales increased by 0.1% in July 2025 compared to June, reflecting an annual growth of 2.2%. This is a decrease from the previous month’s annual growth rate of 3%.
Monthly and Annual Growth Breakdown
During July, 11 out of the 22 merchandise categories and sales channels measured by Inegi through its Monthly Survey of Retail Businesses (EMEC) experienced monthly declines.
- Used items (-5.1%)
- Perfumery (-4.4%)
- Furniture and computer accessories (-3%)
- Leisure items (-2.4%)
- Footwear (-2.2%)
On the other hand, the following categories saw gains:
- Interior decoration (+6.3%)
- Motorcycles (+3.2%)
- Online and catalog sales (+1.9%)
- Home furnishings (+1.6%)
- Pets and gifts (+1.1%)
Consumer Spending Cautious Amid Low Confidence Levels
Economists Janneth Quiroz and Rosa Rubio from Grupo Financiero Monex suggest that the modest advance in retail sales reflects consumer spending caution in a low confidence environment.
“There are signs of reduced in-store spending, as weakness is observed in some consumption-related services such as food and beverages, as well as leisure, indicating less spending by families.”
– Janneth Quiroz and Rosa Rubio, Grupo Financiero Monex
Year-to-Date Comparison and Historical Context
Cumulatively, retail sales have grown by 1.5% through July. This is a positive comparison to the -0.1% decline observed in the first seven months of 2024. However, it lags behind the 4.8% growth seen in 2023.
Key Questions and Answers
- What was the monthly growth rate of retail sales in July 2025? The retail sales increased by 0.1% in July compared to June.
- Which categories experienced monthly declines in July? Used items, perfumery, furniture and computer accessories, leisure items, and footwear all saw declines.
- Which categories showed gains in July? Interior decoration, motorcycles, online and catalog sales, home furnishings, and pets and gifts experienced growth.
- Why are economists suggesting consumer spending caution? There are signs of reduced in-store spending, with weakness observed in some consumption-related services like food and beverages, as well as leisure activities.
- How does the year-to-date retail sales growth compare to previous years? Retail sales have grown by 1.5% through July, which is a positive comparison to the -0.1% decline in the first seven months of 2024. However, it is significantly lower than the 4.8% growth seen in 2023.
