Kueski Pay to Sponsor Hot Sale For Second Consecutive Year

Kueski will sponsor the Hot Sale, which will celebrate its 10th edition, for the second consecutive year. Kueski will allow both businesses and clients to take advantage of promotions and pay for products in 15-day increments without using cards through its buy-now-pay-later program. 

The Hot Sale, which will take place from May 29 to June 6, is the largest online sales event in Mexico. Participating companies will offer exclusive discounts on their products and services. Kueski's participation in the Hot Sale, as its official sponsor, aims to promote new ways to drive the economy by expanding access to credit among Mexicans. “The fact that Kueski Pay is the main sponsor of this great event is a milestone for e-commerce in Mexico, since it is a great way to fight the financial gap that we are experiencing in the country – not only for users but also for businesses, as it helps build a more modern and fairer Mexico,” Lisset May Cervantes, Vice President of Sales, Kueski, tells Mexico Business News. 

The 2022 edition of the Hot Sale generated sales of over MX$23 billion (US$1.2 billion) and brought together over 670 companies. Meanwhile, Kueski Pay has been used by nearly 10,000 online and physical stores in recent years. Moreover, 65% of Kueski Pay users report a preference for using this option despite having a credit card. Transactional sales on Kueski’s platform increased by 417% during last year’s Hot Sale compared to the previous weeks, reports the company. Between April and June 2022, 106 new merchants became affiliated with the platform, equivalent to a 64.2% increase, according to Kueski’s official press release. 

Additionally, over 63 million internet users in Mexico purchased products and services through digital channels last year. Among the favorite categories for online shopping are: food delivery, which was selected by 68% of those surveyed; fashion, selected by 62%; beauty and personal care, selected by 46%; electronics, selected by 40%; and toys, selected by 40%.

One of the main recommendations for businesses to take advantage of this event, according to May Cervantes, is to “choose strategic allies for your e-commerce. The growth of online sales has grown unbridled and requires paying attention to each channel involved. With a friendly and capable platform, the issue of logistics and inventories become very important and diversifying your payment methods is essential, especially in a country like Mexico.” 

The Hot Sale aims to popularize electronic commerce in Mexico, which is challenging since most of the population does not use banking services. Thus, including more payment options for the unbanked population is essential to increase the penetration of e-commerce, says May Cervantes.