Spending decreased by 28% year-on-year! Mexico's spending power declined significantly during the 2021 Christmas season!

According to a survey conducted by online platform Tiendeo, Mexican consumers spent 28% less this Christmas than the same period last year. On average, each consumer spent 3,260 pesos on Christmas this year, which is significantly lower than 4,500 pesos in 2020.

According to Tiendeo, the factors that influence Mexican consumers not to shop during the Christmas season include:

• Price increases (55%)

• Discounts are not strong enough (42%)

• Product shortage (20%)

In addition, Tiendeo pointed out that Mexican consumers spent more in the following four categories this Christmas season:

• Party food (40% of the budget)

• New clothes and gifts (26% of the budget)

• Alcohol (14% of the budget)

• Decorations (10% of the budget)

Mexico is also experiencing inflation due to supply chain issues, with prices for essential items such as food and groceries (17.8%) and non-essential items such as toys, clothing and footwear (6.86%) increasing to varying degrees.

Editor ✎ Nicole/

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