Analysis of consumption characteristics in the Mexican market: installment payment, hot sales of 3C products and the influence of social media

Consumer behavior in Mexico is multi-influenced by economic level, cultural background and market environment. The following is a detailed analysis of its main characteristics.

Hobby installment plan

When Mexican consumers choose products, price is usually the most important consideration. Similar to consumers in some other regions, Mexicans are more likely to seek high-quality products at low prices. Installment payment has become a common settlement method when purchasing large items. In order to adapt to this trend, many department stores and supermarkets offer installment services of 2 to 4 months.

Due to the high inflation rate in the past few years, Mexicans have gradually formed the habit of spending as quickly as possible rather than saving. This tendency puts them at risk of overspending to a certain extent. Therefore, both online sellers and offline retailers need to bear the risk that consumers cannot repay in time within the deadline.

3C products are the most popular

In the Mexican market, 3C electronic products (computers, mobile phones, electronic games and accessories) are the most popular types of goods. The popularity of mobile phones has reached 86.7%, which makes consumers increasingly dependent on 3C products. Specifically, tablets and video games are in particular demand. In addition, Mexican consumers’ demand for traditional media such as books, DVDs and CDs is also growing, including a resurgence of vinyl records.

When selecting products, Mexican e-commerce sellers should pay special attention to cultural taboos. For example, purple is considered a taboo color, yellow is associated with death, and red is considered to be related to spells.

The powerful influence of social media

Mexico has more than 50 million active Facebook users, which provides a good environment for e-commerce marketing. E-commerce sellers can advertise products through social media and develop exclusive websites and brand applications to better attract consumers’ attention and purchases. Making full use of existing social media platforms can help sellers entering the Mexican market expand their business scope.

Through the above analysis, it can be seen that the trends shown by Mexican consumers in the shopping process, such as preference for installment payments and demand for 3C products, are key factors worthy of merchants’ attention, and the popularity of social media has opened up new opportunities for marketing. new avenues.