Saturday, September 30, 2023

How much do they spend and where do they buy?

These days are very important for Mexicans looking for the best prices and brands for back to school. An investigation revealed how much Mexicans spend and where they buy those things that children and young people need to get back into the classroom.

According to data released by Fintonic from the National Alliance of Small Merchants, the main cause found to be that school costs have increased significantly, since previously in 2021 an average amount of 5,375 Mexican pesos was required.

Likewise, according to the Federal Consumer Advocate (Profeco), the 2022-2023 return to school represented sales of more than 90 billion pesos, which came from the basic basket of education, including items such as shoes, uniforms and school supplies.

Based on this data, it is estimated that 33 million students will return to classes in Mexico on August 28, so this year’s expenses have increased due to various situations.

How much do Mexicans spend and where do they buy?

Mexican parents currently spend between 2,000 Mexican pesos and 6,000 pesos per student, even if 44 percent of them shop online before doing their research, according to a new analysis by Rebold, an ISPD group marketing and communications company when shopping for the best prices and spend as little as possible.

The study also revealed that the costs for starting classes break down as follows: School materials are the most expensive at 28 percent, with backpacks, notebooks and geometry games representing the highest costs

Followed by 27 percent enrollment or re-enrollment, 17 percent uniforms, and 12 percent technology.

Another piece of information detailed in the research concerned the places where Mexicans prefer to buy these products. In recent years, these have diversified “to meet consumers’ need to be able to compare prices and offer the list on different platforms”.

“So 52 percent prefer to buy in the supermarket, 48 percent in the local stationery store, 42 percent look in specialist shops, 31 percent in marketplaces, 16 percent prefer public markets, 16 percent go to the wholesaler and…” 13 percent in department stores.

“More and more brands and products are choosing to launch their back-to-school campaigns well in advance, as there are parents who prefer to anticipate purchases, such as in the case of hot sales and other sales dates with discounts.” However, between the two weeks before the course starts and the first week after the course starts when they do their shopping,” commented Diana Jiménez, Director of Intelligence at Rebold México. “It also depends on the level of education for which the materials are acquired, as it is common for the higher level, as opposed to the elementary level, to acquire what is required once they have their first grade and the teachers tell them their needs .” “The lists will be given to you well in advance,” Jiménez explained.

In summary, the study found that motivation also plays an important role in current consumers’ purchasing decisions, an element that brands must leverage to boost their sales and differentiate themselves from the competition.

World Nation News Desk
World Nation News Desk
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