Good End: the level of consumer confidence grows

During the last year, the consumer industry has shown a good level in adapting to new market conditions, where customers had limited mobility, and where cleaning of stores, home deliveries, digital platforms and attention to the safety of buyers, are some of the key factors that are defining the new strategies in sales.

In the framework of the presentation of the study “Consumption prospects for the end of 2021”, Ángel Estrada, partner of EY-Parthenon, indicated that in Mexico there is a very positive outlook for consumption and more thinking about the next high season, where a favorable trend is expected in the part of spending and consumer confidence.

“According to the results of the study, the adoption of online shopping maintains a constant growth given the preference of the population in Mexico. On the other hand, the indicators show greater consumer confidence and an increase in physical visits to supermarkets, retail stores and points of consumption and recreation, ”says the specialist.

“These factors show a positive outlook for upcoming events such as El Buen Fin and the end of the year. This situation will also generate opportunities for manufacturers of consumer goods, the retail channel, as well as the ecosystem of platforms and applications for logistics and last mile ”.

Likewise, he points out that in Mexico consumption is heading for constant growth, where consumers are beginning to regain confidence in planning their expenses after restrictions due to the pandemic.

Ángel Estrada explains that according to the EY-Parthenon study, it was found that more than 30% of the people surveyed indicated that they would like to return to carry out activities outside the home, maintaining the sanitation protocol.

“This will have an impact on the growth of consumption in the category of non-food products; giving higher priority to the purchase of those products that were stopped consuming in previous months. For example, respondents indicated that they would consider consuming 40% more on vacations and 34% on restaurant meals and shopping in malls ”.

The EY-Parthenon partner points out that the end of this year can look much more like 2019 with a significant increase in consumption as people choose to start doing more activities outside the home and therefore consume more.

Online trading

For his part, Juan Felipe Arango, partner at EY-Parthenon, indicated that electronic commerce has shown continuous growth since the beginning of the pandemic, reaching its maximum level in March of this year with a penetration rate of 38% for non-edible products. and 23% in groceries.

However, as confinement ceases, the use of online shopping platforms could decline in the coming months with the younger generation of consumers reducing their use, which could go from 34% to 25%. hundred.

“Although electronic commerce will not have an accelerated growth of 40% as it showed from 2019 to 2020, an exponential growth of approximately 20% per year is expected in the next 5 years. Mexican consumers discovered the ease of purchase offered by this channel and the advantage of avoiding physical contact, so it will continue to have greater market penetration, “he said.

Juan Felipe Arango warns that in the following months of peak consumption season, companies must prepare to attract customers who are willing to go out and buy more. As recovery and vaccination progress, the consumer industry You must adapt your practices to improve your digital channels and implement omnichannel strategies (that the customer can buy physically or digitally).

“We see a very positive outlook, the consumer in Mexico has a better level of confidence, traffic has returned due to less restrictions on mobility and operation of the chains where the consumer carries out their activities.”

Ángel Estrada added that since these penetration levels will continue to rise in online purchases, these new trends will be an opportunity to capture more customers, generate more sales and obtain better profitability.

In such a way that in the coming months new growth opportunities will be generated for the sector.

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