- Index hide1 If we see figures within the “Palacio de Hierro Group – Annual Report 2021”in this research it is noted that the main income is the sale of clothing and footwear.2 Entities like Just have warned in an exclusive interview for Merca2.0, the impact of inflation on consumption.3 Based on an estimate of ecommercedbEl Palacio de Hierro is the fourth store with the highest number of sales within the segment of online stores in Mexico.
If we see figures within the “Palacio de Hierro Group – Annual Report 2021”in this research it is noted that the main income is the sale of clothing and footwear.
Entities like Just have warned in an exclusive interview for Merca2.0, the impact of inflation on consumption.
Based on an estimate of ecommercedbEl Palacio de Hierro is the fourth store with the highest number of sales within the segment of online stores in Mexico.
iron palace is one of the leading brands in department stores and an interesting experience took place inside the chain, where a consumer got some tennis of 19 thousand pesos, which he managed to pay only with points for using your credit card, demonstrating the importance of knowing how to use inflation credit or knowing how to take advantage of promotions.
The use of credit in Mexico has important figures and many of these show a relevant aspect in retail, which is the use of plastic to pay and in what proportion.
Numbers of study “Global Payments Report 2022” explain that during 2021, cash was the most used payment method in Mexico, with an index of 41 percent; followed by the debit card, with a preference of 24 percent and credit card 22 percent.
Payment by credit card is the least common of the forms of payment with this format, especially if we consider creative elements that have become key to understanding common elements, such as those warned by the story of this note, where a consumer demonstrated how through points it was made of a luxury product.
There are very important purchasing habits to consider today in the Mexican market, especially if we take into account inflation, which has triggered changes in consumer behavior.
In Mexico there is a great impact of inflation on the consumer market, as warned by Eliud HernandezMexico Country Manager of Justo.
“During inflation what we have seen is a greater behavior towards looking for our promotions and discounts; the Mexican consumer is comparing more and looking for the best option, quality and price for his family”, she explained in an exclusive interview for Merca2.0.
While this is happening in the retail supermarket segment, we see other trends at the door such as luxury consumption in inflation, so we can identify an interesting habit that we will detail now.
Pay luxury with points amid inflation
In the midst of the inflation that exists in Mexico, paying for luxury with points seems like an experience that no one expected to see, but that the use of credit cards with benefits allows to carry out.
Paulina Anguiano reported it in your account TikTokwhere he shows how he got a pair of Bottega Veneta tennis shoes at Noches Palacio, thanks to the points he had accumulated.
According to the suggestions that are made in the video by users, they recommend making a large purchase as soon as the credit is acquired at El Palacio de Hierro, for the points that this provides to the card.
This experience is an excellent benchmark in the market, of how important communication with the consumer has become and, most importantly, of the importance of understanding the correct use of plastic.
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