By Francisco Olivares*
El Buen Fin marked the beginning of the year-end shopping season and the behavior of the Mexican consumer shows how it has changed in response to current economic challenges; showing to be more informed and cautious in the face of a challenging economic environment. These dates, which have historically represented moments of indulgence and mass consumption, are now marked by conscious planning to ensure products that are considered key to be able to acquire at this time.
The start of Christmas shopping since November highlights this trend. The majority of consumers have chosen to get ahead, prioritizing product availability and seeking to get the most out of the value of their purchases. Only a minority wait until December, and some have even started shopping weeks ago, indicating a need to get their hands on the products before the promotions grab everyone’s attention. This phenomenon also reveals a latent anxiety about the availability of specific products, particularly in high-demand categories such as technology and electronics.
In giving is receiving
Among gift preferences, Mexicans have expressed a marked interest in products that align quality and sustainability. Clothing and accessories top the list of what is most preferred to receive, reflecting a mix of practicality and interest in taking advantage of sales. However, food and beverages are positioned as the preferred gifts, with a growing emphasis on organic options and sustainable productions. The Mexican consumer is not only concerned with fulfilling the gift, but rather seeks a greater meaning, so we can expect gifts with a purpose to increase: minimizing waste, supporting local production, being more sustainable. It’s not just a purchase; It is a declaration of values.
This context is also reflected in how and when it will be spent on technology and electronics. Here, Mexicans patiently wait for sales, but, paradoxically, they are willing to pay full price if necessary for gifts they consider essential. He is a consumer who, although he continues to expect discounts, is not afraid to prioritize quality and convenience when the situation warrants it.
Diversification rules
Carefully planned savings, “buy now, pay later” options and the use of credit are the preferred strategies for paying for these purchases. Mexican consumers have learned to balance their finances precisely, while still taking advantage of the opportunities that the season offers.
And what does this mean for the Mexican consumer? Without a doubt, people are transforming the holiday shopping season into something more than just an obligatory expense: it is an expression of values, strategic planning and a balance between offers and quality. This evolution leaves us thinking about the complexity of modern decisions and what that means for the future of commerce. Thus, for companies that want to adapt to these new trends, it will be essential that they prioritize quality and transparency, since consumers are demanding safe and sustainable experiences.
Against this backdrop, responsible innovation will be what will differentiate brands that last.
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*Francisco Olivares is Deputy Lead Partner of Consumer Affairs, EY Latin America.
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.
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