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Mexicans will take the lead in purchasing trends during 2023.
Companies will be able to implement new strategies figital to get ahead of the competition.
Public and private works will mean new jobs and more income in the transportation industry.
2022 meant the consolidation of new purchasing trends, however, 2023 appears to be a disruptive year in every way. Platforms and specialized agencies have already begun to identify what will be those key elements for brands that will make them stand out from the rest. For consumers, creatives, fintech, among many others, the new year will also have many opportunities.
The evolution of the market in Mexico
2022 has served to understand that the strategies prior to the pandemic have evolved and are increasingly pointing towards a digitized world. However, it should also be understood that although the issue of Covid-19 is still recent, the low rate of infections in the world and the high level of vaccinations have allowed this issue to continue in constant growth. The market is now capable of exceeding the response to the needs of a cloistered market and can now turn towards new horizons.
For example, a study conducted by Statista Digital Market Outlookshared that the growth of digital commerce in Mexico is much larger than it was before 2020. Before the pandemic, the value of this was 29 thousand 40 million dollars, however its value became worth 38 thousand 800 million US dollars in 2021. Currently the value of this sector could be 45 thousand 700 million dollars.
To a large extent, these numbers are a reflection of the global suffering that occurred during the pandemic. A) Yes, Sean Summers, EVP of Market Ads & Chief Marketing Officer Free Market commented to Merca2.0 that the digital market in Mexico and Latin America has been able to anticipate 2022 and even 2023, pointing out that their consumers have been able to quickly adapt to digital:
“From the creation of digital tools that have facilitated transactions, a natural conversation has been generated in the ecommerce. The penetration of ecommerce e-mail in Mexico is still well below the rest of the world. There is an opportunity to continue attracting new users. I am convinced that the acceleration of Mexico, which has always been the sleeping giant in the last five years, has finally woken up as a market“.
Added to this, the Mexican Association of Online Sales (AMVO) shares that the digital market in Mexico increased a 27 percent between 2020 and 2021. As a result, consumer behavior has also taken a 180-degree turn. A few years ago, consumers were reluctant to use other types of methods, however, little by little the digital infrastructure has allowed these changes to influence not only the institutions, but precisely the clients.
The diversification and democratization of payment methods has given a positive result in terms of digital development. Consequently, this has also been positive for events such as the Good End. With this, the issue of inclusive payments becomes increasingly relevant for brands and will be a topic of main attention for companies.
In addition to this, Manuel Quintana, commercial director of Almacenes Ánfora commented in an exclusive interview for Merca2.0 that it is the responsibility of a brand to provide its customers with any payment method. This is achieved with the help of a banking institution, which will be behind each purchase. In fact, he considered that part of the low percentage of bank access in Mexico is due to the fact that an efficient information method has not been implemented for all consumers.
Despite this, he points out that the numbers do not lie, and in the company of Victor Galicia, who is head of marketing of Openpay by BBVA, comment that not only can the effectiveness of a business grow by a large percentage, but even billions of pesos are lost by not considering these alternatives.
New year, new shopping trends in 2023
For buyers, the path will also be much more defined in their foray into the digital world. One of the worldwide trends will be the growth of ecommerce. In Mexico, the rate of internet purchases is increasing every time. To mention something, during 2022 it increased from 30 to 32 percent in an age range of 25 to 44 years, who are also the main audiences. As an immediate response, the consolidation of the websites and marketplaces.
According to data from Pakke, an online platform that allows you to send products anywhere in Mexico, 95 percent of digital commerce users buy products and 78 percent access services. Buyers search, on average, four sources of information before making a decision. While 95 percent use digital media, and 66 percent are based on traditional.
With this, it will be practically a fact that buyers, who are already involved in a large part of their purchase process, will increasingly seek to be more conscious buyers.
Against all odds, the most optimistic of digital will have to wait if they plan for physical purchases to fall by mutating to digital. According to what specialized platforms show, the commercial sector will still have a great weight and a higher confidence index, however, digital tools will be increasingly useful, especially to buy a price within this wide range of options.
Finally, we can take into account that although consumers were increasingly limited economically due to inflation and the crises of the war and the pandemic, the truth is that both 2023 and 2024 are shown to be years of recovery and profit, since Both in the private initiative and in the public sector, new opportunities are coming up.
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Plagiarism in a thesis? Fear not, analysts confirm that there will be no repercussions