Post by sumaiyasumi8855 on Oct 28, 2024 21:41:53 GMT -8
El Buen Fin is a commercial event held in Mexico that has become one of the most important sales initiatives in the country. This year, it will take place from November 17 to 20 and its objective will be - as every year - to stimulate the economy through special promotions and discounts on a wide range of products and services.
Considered by many as the beginning of the season where sales increase exponentially within the last quarter of the year, Mexican companies usually focus most of their efforts on designing marketing strategies that optimize their sales and promotion channels to meet consumer purchasing trends.
This is why at Elogia we developed our Buen Fin 2023 Study: Purchasing Trends in Mexico, where we expose the main elements that consumers will demonstrate when making purchases during this event, from their purchasing plans to the product categories that bulk sms marketing will be seen most frequently in their searches. We invite you to continue readin
Shopping moments during the Buen Fin
Influential in the purchasing process
Top selling product categories
Average spending of Mexicans during the Buen Fin
Online and Offline Shopping: The Perfect Mix
Physical stores or department stores vs Marketplaces
Elogia, your ideal digital partner for Q4
The Buen Fin 2023 Study: Purchasing Trends in Mexico , conducted through the analysis of 602 anonymous surveys, collects a representative sample of Mexican Internet consumers in their purchases, both in physical stores and online, regardless of the channel in which they buy or the way of formalizing said purchase; in this way we avoid possible biases by monitoring only buyers from a specific channel or those who need to financially leverage their purchases.
Below we share the main discoveries:
Shopping moments during the Buen Fin
86% of Mexican Internet users say they will make purchases during the Buen Fin 2023, especially the young population (up to 34 years old) as was the case in 2022.
Likewise, 35% of those who will buy during Buen Fin say they will buy more than last year vs. 24% who will not increase their purchases and 41% who do not yet know what they will do.
Based on this, we found that Buen Fin shoppers plan their purchases in advance just like in 2022:
48% of people write down the prices of the products they are interested in in advance to ensure that they really have a good discount, especially the 45 to 54 year-old population.
42% look for the best deal on the products they really want, especially men, and 10% are swayed by the bargains they find.
86% wait for the Buen Fin to arrive to buy a product or service that they liked, 44% regardless of the product and 42% for certain products that are expensive, especially for seniors , and 39% look for information to buy during the Buen Fin more than a month in advance up to two or three weeks before.
82% say that Buen Fin price discounts are misleading, meaning that product prices are raised to offer discounts.
Influential in the purchasing process
6 in 10 (same as in 2022) say that their purchases will be influenced by advertising on those dates, especially women and younger people.
The most influential advertising will again be that coming from Social Media , especially for women and younger consumers, followed by television, especially among men.
On the other hand, Buen Fin promotions are mainly made known through online advertising (internet; 56%), Social Networks (TikTok, Instagram, Facebook, etc.; 47%), especially among those aged 18 to 44, and through information on the brand's website and online stores (45%).
Top selling product categories
As last year, the categories expected to have the highest penetration are technology (45%), household appliances and home (43%) and fashion (35%).
Technology: especially among the male target (56%) and younger people (54%).
Appliances and Home: the youngest (47%) and middle-aged (47%) stand out.
Fashion: especially among women (42%), younger people (44%) and middle-aged people (36%). However, this category is expected to rise to first place in Christmas shopping.
Average spending of Mexicans during the Buen Fin
This year, more Mexicans believe they will spend more at Christmas than at Buen Fin.
38% will spend more at Christmas, 36% will spend similarly on both dates, and 26% more on Buen Fin. Likewise, the estimated spending on Buen Fin is around $2,526 MXN ($200 MXN more than in 2022). It was also found that men will spend more than women ($2,676 MXN men vs. $2,381 MXN women), especially in older populations .
Online and Offline Shopping: The Perfect Mix
The Buen Fin purchasing process will combine online and offline channels. Information will be searched for mainly online, but more purchases will end up being made in person.
4 out of 10 will look for information in an online store and buy in the physical store.
3 out of 10 will look for information in the online store and end up buying in the online store.
2 out of 10 will look for information in the physical store and buy in the physical store.
1 in 10 will look for information in the physical store and end up buying in the online store.
The search for information will be carried out mainly through search engines such as Google with 42%, followed by sites such as Amazon, Ebay, AliExpress or similar with 39% and directly through the websites that interest them with 38%, especially among people aged 35 to 44.
The study also found that:
4 out of 10 people who buy online will do so primarily via smartphone or tablet, especially women.
7 out of 10 online shoppers reject online shopping because they consider that delivery times are longer or because home delivery or other delivery points are eliminated, as was the case in 2022. On the other hand, only 3 out of 10 do not have any logistical problems that prevent them from buying online.
Physical stores or department stores vs Marketplaces
Shopping in physical stores or department stores remains the preferred option for Mexicans, followed by marketplaces (Amazon, MercadoLibre, Privalia, Linio, etc.), websites of major brands in third place and finally on social networks (only 7%).
The Marketplaces option is chosen mainly by people aged 35 to 44 to find cheaper prices, but also to take advantage of a greater variety of products, not having to go to the store and because of their good previous shopping experiences.
On the other hand, the first position is taken by Mercado Libre , with a penetration of 79%, followed by Amazon (78%). On Mercado Libre, men, younger people and middle-aged people stand out. Also, the podium is completed by Walmart with 45% and far behind is Aliexpress (17%) which stands out among the youngest (18-34 years).
Elogia, your ideal digital partner for Q4.
As you can see, Buen Fin is a time full of great challenges, so it never hurts to have a couple of extra hands to contribute to the success of your brand, and what better than from Full Digital Commerce specialists whose skills have paid off since the first edition of this event in 2011 .
This is why at Elogia we are eager to meet you. We are sure that we will be able to apply our expertise in the most effective way to your brand!
Considered by many as the beginning of the season where sales increase exponentially within the last quarter of the year, Mexican companies usually focus most of their efforts on designing marketing strategies that optimize their sales and promotion channels to meet consumer purchasing trends.
This is why at Elogia we developed our Buen Fin 2023 Study: Purchasing Trends in Mexico, where we expose the main elements that consumers will demonstrate when making purchases during this event, from their purchasing plans to the product categories that bulk sms marketing will be seen most frequently in their searches. We invite you to continue readin
Shopping moments during the Buen Fin
Influential in the purchasing process
Top selling product categories
Average spending of Mexicans during the Buen Fin
Online and Offline Shopping: The Perfect Mix
Physical stores or department stores vs Marketplaces
Elogia, your ideal digital partner for Q4
The Buen Fin 2023 Study: Purchasing Trends in Mexico , conducted through the analysis of 602 anonymous surveys, collects a representative sample of Mexican Internet consumers in their purchases, both in physical stores and online, regardless of the channel in which they buy or the way of formalizing said purchase; in this way we avoid possible biases by monitoring only buyers from a specific channel or those who need to financially leverage their purchases.
Below we share the main discoveries:
Shopping moments during the Buen Fin
86% of Mexican Internet users say they will make purchases during the Buen Fin 2023, especially the young population (up to 34 years old) as was the case in 2022.
Likewise, 35% of those who will buy during Buen Fin say they will buy more than last year vs. 24% who will not increase their purchases and 41% who do not yet know what they will do.
Based on this, we found that Buen Fin shoppers plan their purchases in advance just like in 2022:
48% of people write down the prices of the products they are interested in in advance to ensure that they really have a good discount, especially the 45 to 54 year-old population.
42% look for the best deal on the products they really want, especially men, and 10% are swayed by the bargains they find.
86% wait for the Buen Fin to arrive to buy a product or service that they liked, 44% regardless of the product and 42% for certain products that are expensive, especially for seniors , and 39% look for information to buy during the Buen Fin more than a month in advance up to two or three weeks before.
82% say that Buen Fin price discounts are misleading, meaning that product prices are raised to offer discounts.
Influential in the purchasing process
6 in 10 (same as in 2022) say that their purchases will be influenced by advertising on those dates, especially women and younger people.
The most influential advertising will again be that coming from Social Media , especially for women and younger consumers, followed by television, especially among men.
On the other hand, Buen Fin promotions are mainly made known through online advertising (internet; 56%), Social Networks (TikTok, Instagram, Facebook, etc.; 47%), especially among those aged 18 to 44, and through information on the brand's website and online stores (45%).
Top selling product categories
As last year, the categories expected to have the highest penetration are technology (45%), household appliances and home (43%) and fashion (35%).
Technology: especially among the male target (56%) and younger people (54%).
Appliances and Home: the youngest (47%) and middle-aged (47%) stand out.
Fashion: especially among women (42%), younger people (44%) and middle-aged people (36%). However, this category is expected to rise to first place in Christmas shopping.
Average spending of Mexicans during the Buen Fin
This year, more Mexicans believe they will spend more at Christmas than at Buen Fin.
38% will spend more at Christmas, 36% will spend similarly on both dates, and 26% more on Buen Fin. Likewise, the estimated spending on Buen Fin is around $2,526 MXN ($200 MXN more than in 2022). It was also found that men will spend more than women ($2,676 MXN men vs. $2,381 MXN women), especially in older populations .
Online and Offline Shopping: The Perfect Mix
The Buen Fin purchasing process will combine online and offline channels. Information will be searched for mainly online, but more purchases will end up being made in person.
4 out of 10 will look for information in an online store and buy in the physical store.
3 out of 10 will look for information in the online store and end up buying in the online store.
2 out of 10 will look for information in the physical store and buy in the physical store.
1 in 10 will look for information in the physical store and end up buying in the online store.
The search for information will be carried out mainly through search engines such as Google with 42%, followed by sites such as Amazon, Ebay, AliExpress or similar with 39% and directly through the websites that interest them with 38%, especially among people aged 35 to 44.
The study also found that:
4 out of 10 people who buy online will do so primarily via smartphone or tablet, especially women.
7 out of 10 online shoppers reject online shopping because they consider that delivery times are longer or because home delivery or other delivery points are eliminated, as was the case in 2022. On the other hand, only 3 out of 10 do not have any logistical problems that prevent them from buying online.
Physical stores or department stores vs Marketplaces
Shopping in physical stores or department stores remains the preferred option for Mexicans, followed by marketplaces (Amazon, MercadoLibre, Privalia, Linio, etc.), websites of major brands in third place and finally on social networks (only 7%).
The Marketplaces option is chosen mainly by people aged 35 to 44 to find cheaper prices, but also to take advantage of a greater variety of products, not having to go to the store and because of their good previous shopping experiences.
On the other hand, the first position is taken by Mercado Libre , with a penetration of 79%, followed by Amazon (78%). On Mercado Libre, men, younger people and middle-aged people stand out. Also, the podium is completed by Walmart with 45% and far behind is Aliexpress (17%) which stands out among the youngest (18-34 years).
Elogia, your ideal digital partner for Q4.
As you can see, Buen Fin is a time full of great challenges, so it never hurts to have a couple of extra hands to contribute to the success of your brand, and what better than from Full Digital Commerce specialists whose skills have paid off since the first edition of this event in 2011 .
This is why at Elogia we are eager to meet you. We are sure that we will be able to apply our expertise in the most effective way to your brand!