McKinsey Mexican consumer survey: some categories are clearly moving towards online shopping

Recently, McKinsey released the results of its 2023 Mexican Consumer Survey, which surveyed more than 1,000 Mexican consumers from different income groups in early 2023. The survey showed that due to rising prices, Mexican consumers are more likely to look for cheaper goods through online shopping, and the online shopping trend is obvious in some categories.

The survey results cover five aspects of Mexican consumers, including consumer confidence, spending levels, online shopping and category trends.

Consumer sentiment is optimistic

The survey showed that 30% of Mexican consumers expect their financial situation to be better this year than last year. The Mexican economy also showed signs of improvement. Data showed that although Mexico's inflation level reached the highest level in more than 20 years in 2022, the unemployment rate has returned to the pre-epidemic level.

According to data from the National Institute of Statistics and Geography (INEGI), real consumer spending in Mexico increased by 6.5% year-on-year in 2022. Overall, the proportion of consumers who are optimistic about Mexico's recent economic prospects has increased to 46%, a significant increase from 44% in 2021 and 31% in 2020.

Consumption downgrade trend is obvious

The survey showed that among the consumers surveyed, 67% cut their spending in the past 12 months, which is more than 20% higher than before the epidemic. In addition, 23% of the respondents are downgrading their consumption, compared with 20% in 2021.

According to the survey, the trend of consumption downgrade is seen in almost all categories, but it is more obvious in the category of necessities, including household cleaning products, laundry supplies, rice, pasta and bottled water. This trend is in stark contrast to 2020 and 2021, when the number of people upgrading their consumption exceeded the number of people downgrading their consumption.

More people are shopping online to find low-priced goods

After the epidemic, online shopping is no longer the main shopping channel for Mexican consumers, but the proportion of online shopping consumers is still higher than before the epidemic. 17% of respondents said that most or all of their shopping is done online, compared with 15% before the epidemic.

Many respondents said they chose online shopping mainly because of lower prices and that it was easier to compare product prices online. In addition, they also had many concerns about e-commerce shopping, such as receiving damaged or defective goods, goods not matching the pictures and texts, and high shipping and delivery costs.

The trend of online shopping for some categories is more obvious

The survey shows that compared with the pre-epidemic period, the proportion of online purchases in almost all categories has increased, and this is more obvious in some categories, such as cosmetics, consumer electronics, toys and baby products. These trends are similar to those in developed countries.

Willing to pay a premium for health

The survey shows that Mexican consumers have formed healthier living habits after the COVID-19 pandemic, such as eating at home more frequently, and 25% of respondents are buying more low-sugar and sugar-free foods. In addition, 60% of respondents said they are willing to pay a premium for healthier products, 48% are willing to pay a premium of 1% to 10%, and 12% are willing to pay a premium of more than 10%.

These findings suggest that the COVID-19 pandemic has had a lasting impact on consumer behavior in Mexico, with consumers continuing to reduce spending and increase online shopping. As consumer optimism about the economy rises, businesses will need to remain agile and respond quickly to meet customers' changing needs.

Editor✎ Ashley/

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