Mexico: Consumer Profile

September 2024

Mexico's population is set to grow steadily through to 2040, maintaining a youthful demographic led by Gen Alpha and Gen Z, yet emigration is expected to offset some of the growth. Gen Z is set to have the highest average incomes, with millennials the most prevalent in the top income band, focusing their spending on experiences. Rising internet penetration is set to continue boosting e-commerce, while Mexico’s climate change vulnerabilities are expected to drive eco-friendly practices.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.

The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Mexico report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Mexico report answers:

  • How consumers in Mexico are changing? 
  • What are key changes in Mexico population, society and generational structure and how it is affecting businesses?
  • What is the household structure in Mexico and how it is changing consumer landscape?
  • What are key income groups in Mexico? What is the outlook for the future?
  • Where consumers are  spending the money in Mexico? 
  • How is the consumer mindset in Mexico changing?
  • In Mexico, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Mexico?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in Mexico in 2023
How developments today shape the consumer of tomorrow
Today 2023: Relatively young and expanding population due to high birth rates
Mexico's population is rising moderately but growth is slowed by emigration to the US
High obesity and raised cholesterol rates due to low affordability of healthy foods
Tomorrow 2040: Younger cohorts remain dominant, yet seniors expand at the fastest rate
With ongoing population growth, younger cohorts are set to remain at the forefront
The rapid growth of cities in Mexico is leading to slum expansion
Opportunities for growth
Biocon introduces innovative treatment in Mexico to address high prevalence of overweight
Today 2023: Larger families are the norm, yet the number of childless homes is increasing
Numerous large families in Mexico experience poor housing conditions
Rising housing costs make homeownership challenging for many low-income households
Tomorrow 2040: Most Mexican households are projected to be childless
Older men are set to remain primary decision-makers among Mexican households
Internet access remains scarce in rural Mexico, but set to improve
Opportunities for growth
With home time rising, Sky Mexico launches Sky+ to cater to demand for Mexican content
Today 2023: Discretionary spending potential remains low by global and regional standards
Nearly half of Mexico's population live in poverty, causing concern over rising living costs
Gen Z to boost spending but remain key discount store shoppers due to budget constraints
Tomorrow 2040: Senior demographics are projected to record the fastest rise in income
Booming remittance flows from the US to sustain their importance in driving income growth
Accelerating US nearshoring to drive investment in Monterrey, boosting consumer spending
Opportunities for growth
Amazon shopping now more convenient and affordable with Kueski Pay's Buy Now, Pay Later
Key findings from consumer survey
Though careful with spending, Mexicans are ready to pay more for healthy and natural food
In search of value, Mexicans turn to second-hand shops more than global counterparts do
Mexico's vulnerability to climate change raises consumers’ environmental consciousness
Mexicans save more than regional peers, boosting their financial confidence and outlook
The extended working week is boosting demand for work-life balance among Mexicans
Opportunities for growth
Posadas Group launches Meaningful Travel Programme to promote sustainable tourism
Key takeaways
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