How to market your business in Mexico

Get your expansion plans off to a great start, with our quick guide for marketers

Read the source article by Getting to Global here.

With its growing middle class and business-friendly environment, Mexico is a ready made destination for US exporters. And with 75% of the population living in urban areas with a heavy US influence, Mexico could be a prime destination for your business. But before you start exporting, let’s explore some of the factors you’ll need to consider when creating your marketing plan.

1 Shoppers

Consumer buying power has risen a lot over the last decade and will continue rising in the future. However, around 20% of the population live below the poverty line and over half (58%) in conditions deemed unstable or potentially risky.

Shoppers here are very aware of brand names, but not to the detriment of cost and benefit – and they also value strong customer service that’s individual to them.

2 Social media

Although 9 in 10 internet users in Mexico access social networks, social media is by no means the most popular marketing channel used by businesses. Direct mail and telemarketing also have a role to play, so ensure you consider the most appropriate channel for your audience.

3 Shopping categories

Over half of shoppers have purchased from international retailers, most of which are based in the US. The most popular online purchases are for apparel and accessories. While furniture, computer equipment/software, and consumer electronics are not major categories in their own right, they do lead the way in terms of consumer spend.

4 Major retail holidays

A major retail opportunity is El Buen Fin (or "the good weekend") in November. Just like Black Friday, this holiday encourages families to hit the shops, find a bargain or two, and give the economy a boost. Retailers in Mexico City alone can generate up to $12 billion in sales revenue over this four-day period – so plan early and ensure your business is ready to take its share.