Undoubtedly, one of the most important traditions in Mexico is that of the Three Kings, a date on which heavy spending is allocated and, in a context of inflation and rising prices, we are also talking about a time of great uncertainty.
Officially, it can be said that the holiday season is behind us, being one of the most anticipated by a large number of people around the world and Mexicans, in this sense, usually celebrate it in a big way.
According to the macro survey Global Consumer Survey Special: Christmas and Holiday Season According to Statista, made to a significant group of Mexicans, 57 percent of those surveyed revealed that clothing, textile products, and footwear are the gifts they most expect to receive this season.
It should be noted that 35 percent said they preferred the smartphones, tablets and accessories, while 34 percent chose cash or transfer as something they would be delighted to receive.
Chart of the day: How much do the Three Wise Men spend in Mexico?
In short, we are talking about a fairly high shopping period, starting with the expenses of Christmas, Santa Claus, New Year and, of course, the Three Wise Men.
Today, January 6, 2023, Three Kings Day is celebrated, a festivity more focused on children, but where, in the same way, Mexicans allocate a large part of their income.
Let us remember that 2023 has also arrived in the midst of a context of uncertainty due to inflation that, according to experts, will begin to subside in 2024.
A study carried out by Ipsos announced that nine out of ten respondents say they feel stressed by the impact of rising prices and 55 percent are more so than last year.
This impact has undoubtedly affected the Three Wise Men, since in days of inflation and rising prices, expenses will also be reduced. According to data from a survey carried out between the end of 2019 and the beginning of 2020, around 17.2 percent of Mexicans stated that they allocate between 501 and 1,000 Mexican pesos to Three Kings Day gifts.