Mexicans spend more on basic consumption

MEXICO CITY (El Universal).— Mexican households spend approximately 68% of their income on basic needs, with rising food and beverage prices being their main concern, according to the NielsenIQ (NIQ) consulting firm.

According to the firm, although in recent months there has been a closing of the gap between these prices and the inflation rate, consumption has not yet reached pre-Covid levels, evidencing a gradual recovery.

According to the survey, there has been a change in the way households spend, driven by the inflationary context, which has generated trends in the purchasing habits of the different socioeconomic strata of the country.

Thus, in the case of the high-income segment, more planned and coarse purchases are made, oriented towards the performance of the home, with which in general they allocate 33.5% of their expenses to the purchase of small and large groceries.

“People in this category can choose from multiple channels and expand their spending, including purchases in non-basic categories such as hygiene and beauty,” NIQ explained.

Middle-income people, on the other hand, diversify their shopping channel options more, meaning they visit more channels in search of savings, and tend to choose between small purchases of 2 to 5 products or, on the contrary, larger grocery purchases. In this sense, they tend to give more opportunity to emerging channels in the hope of finding better deals.

On the other hand, the low-income segment, significantly affected by inflation, spends its income only on acquiring what is necessary, mainly on small purchases, sometimes reaching 80% of its expenses.

According to NIQ, these consumers tend to benefit primarily from traditional and discount channels, seeking to maximize their purchasing power in a challenging economic environment.

The consultancy firm emphasized that only with a deep and empathetic understanding of the different realities of Mexican consumers, companies will be able to build strong and sustainable relationships with their customers, thus contributing to greater inclusion and equity in the country’s commercial landscape.