Hot Sale 2022 Is Here: How Much Do Mexicans Spend?By Antonio Gozain | Wed, 05/25/2022 - 13:13
The 2022 edition of Hot Sale kicked off on May 23, 2022, attracting millions of users to shop online. Mexicans spend between MX$11,000 (US$550) and MX$35,000 (US$1750) in e-commerce during this season, according to a study by Fintonic.
During Hot Sale 2021, Mexicans aged between 35 and 44 were the ones who spent the most, with an average of MX$38,000 (US$1,900), followed by people aged 25-to-34, who spent MX$21,000 in average (US$1,050). People between ages of 18 and 24 spent an average MX$11,400 (US$570), says the study. Mexicans’ favorite category during Hot Sale 2021 was sports, with an average expenditure of US$515, followed by electronics (US$500), hotels (US$350), home (US$325) and clothes (US$158).
Hot Sale has become one of the favorite seasons to shop for Mexicans due to the offers and promotions given to acquire merchandise through e-commerce, reported Milenio. The initiative was introduced in 2014 by the Mexican Association of Online Sales (AMVO) to foster e-commerce in Mexico through several discounts and promotions at affiliated businesses.
The Hot Sale 2021 webpage received over 10 million visits and more than 11.6 million Mexicans participated in at least one transaction, while online search grew by 55 percent year-on-year, according to AMVO. Website visits to affiliated companies amounted to 567 million, a 35-percent increase year-on-year and almost 12 million purchase orders were registered.
For this year’s edition, AMVO expects a 16 percent growth in users interested in buying products. People between ages 25-44 will represent 67 percent of Hot Sale users in 2022. “The young population's proximity to technology products allows them to take advantage of all the benefits of the digital world first hand,” wrote for MBN Karen Herrera, PR and Editorial Manager, Kueski.
Fintonic’s study revealed that the most used banks for transactions during Hot Sale 2021 were Citibanamex, Santander, American Express, BBVA and Scotiabank. Meanwhile, banks that saw less transactions were HSBC, Inbursa and Banco Azteca. Mexicans preferred debit card (405,817 transactions) over credit cards (271,699 transactions), the study added.
The pandemic boosted e-commerce adoption and growth in Mexico. In 2020, online shopping grew by 81 percent, according to AMVO. In 2021, e-commerce grew by 27 percent. “This year, more people are expected to make their first purchase online or make this their favorite purchase method,” wrote Herrera.