Mexico's economic prospects continue to deteriorate.The INEGI has just published the data of the timely indicator of the Economic Activity (IOAE) of the month of December 2021 and these suggest that the national economy fell again in that month.It is estimated that between December 2020 and the same month of 2021, economic activity fell -0.2%, as a result of the fact that although industrial activities grew 0.4%, commerce and services backed -1.3%. With this preliminary data, the mostIt is likely that the Gross Domestic Product (GDP) of Mexico has retreated -0.2% annualized in the fourth quarter of 2021 and that then the result of all 2021 is an increase in GDP of just 4.6%, far from the goal of the goal of theSecretariat of Finance and Public Credit (SHCP) of a growth of 6.3 percent.
In terms of the evolution of the manufacturing industries, we have to accumulated as of November 2021, compared to the same months of 2019, the value of production has already been recovered in real terms.In fact there are already 13 manufacturing activities that have a production value greater than that they had in 2019, but there are 8 very damaged activities that have not been able to recover.The most lagging manufacturing activities in their recovery are (in parentheses the fall percentage compared to 2019): Manufacture of textile inputs and textile finish (-8.5%);Manufacture of transport equipment (-13.5%);Manufacture of clothing (-21.2%);Tanned and leather and skin finish, and manufacture of leather products, skin and substitute materials (-21.2%);and manufacture of computing, communication, measurement and other electronic equipment, components and accessories (-26.2%).
All these data, and many others, confirm the difficulties that the economic recovery process is going through;They are very important, but this time (at the request of several of my readers) I prefer not to address the macroeconomic problem but to focus on positive things and that can serve for decision making.
Thus, this time I propose some business opportunities based on an editorial article by Ann-Marie Alcántara, published in the Wall Street Journal on January 17, and entitled “Ten trends that will shape the way we buy,We eat and live this year. ”While the article is focused on the American and European consumer, it seems to me that there are very rescuable things that apply in the case of broad segments of Mexican or Latin American consumers, and that is why it seems pertinent to present the most relevant points.
In the Ann-Marie Alcántara writing, it states that in 2021 we must prepare for a new type of moderation by consumers, as many change their consumption habits buying more second-hand items and the problems of the problems of the supply chain.
The author takes as a reference the annual trends report of the market research firm Euromonitor International, which indicates that this year consumers will become more moderate and more aware of their spending behaviors, looking for alternatives to buy products fromLess traditional forms.She forecasts what consumers value more and more and how companies must adapt to these behaviors.This year, consumers will change their expenses subtle and even experiment with metovers.
Alison Angus, head of lifestyles of life in Euromonitor said "we see that the middle class is in a reset period and thinks more its expenses, but we see that this goes much further: everyone is much more moderate."
Below are the 10 Euromonitor consumption trends by 2022:
1. Alternative solutions of the supply chain
Product shortage and interruptions in supplies supply and finished products, have caused consumers to use subscription services or buy second -hand products to find what they are looking for.Companies must adapt to the tastes of these people offering alternatives to articles.Virtual rows systems have an opportunity for buyers to get a place in line and wait to receive a product.Offering products for rent or reconditioned is another opportunity to loyalty customers, as well as tempting them with exclusive or presale items.
2. Climate change becomes the most important
The 26th Conference of the Parts of the United Nations Framework Convention on Climate Change, also known as COP26, made consumers think of their daily actions in relation to climate change.People seek to reduce food waste, reduce plastic use and recycle more.67% of consumers surveyed by Euromonitor said they tried to do something every day to have a beneficial impact on the environment.Climate change and sustainability are trends that will continue to evolve since previous years, but in 2022, younger consumers will have a greater impact on their peers, parents and grandparents.
3. Older people optimize their digital life
Pandemia forced many people to adjust their behaviors, such as buying edible online for the first time.That trend was especially popular among older people.Now, this group of consumers wants to continue with their digital use, and companies must respond accordingly by offering training, support and manufacturing products that are easy to use.For some companies, it can mean that an application (app) or that its website works in the same way in all types of devices, such as a laptop or a smartphone.
4. Take control of finance
Pandemic instability caused many consumersReduce the collection of commissions.
5. Prioritize personal values and objectives
34% of people in the 2021 survey preferred to spend money on experiences instead of products, compared to 27% in 2015. Companies must address change being flexible to what consumers want, whether theseare working or in search of a new job opportunity."Last year, we talked that consumers reconsider their priorities and how they want their life to be," said Mrs. Angus. "This year ... they are actually making the changes."
6. Metaverso changes from experiment to reality.
Consumers who were forced to lead their life online through videoconferences or chats are now changing their behavior to interact with digital worlds and communities.Virtual concerts, non -fungible tokens sales (NFTS) and clothing avatars are behaviors that consumers are taking advantage of, and some companies are knowing their customers there, the research firm said."No company can afford not to think about this," said Mrs. Angus."Because it is happening and consumers go there."
7. Second -hand items lose stigma
Buying second -hand items is no longer stigmatized.It has become an option sought by consumers who want to have unique items or are buying with a limited budget.Options such as gift cards or repurchase programs that promote second -hand purchasing behaviors by consumers are being successful schemes.Companies must meet this demand, also attending to consumers who want to return their items to the store in exchange for a coupon or request repair.
8. City residents opt for suburban and rural advantages
The people who stayed in the cities and did not flee to the suburbs during the pandemic now want some of the advantages of living outside a city, such as having access to green spaces.Others want more services closer to their homes, and many still work from home, the investigation firm said.Companies should aim to bring stores and services closer to consumers."Make everything accessible to consumers in 15 minutes."
9. Indulgence in self -care and happiness.
56% of consumers expect to be happier in the next five years, said the firm.To achieve that Nirvana, people are buying products that help their mind and body, such as cannabis products or meditation courses.Personalized purchase experiences, which can predict the needs of a consumer, will become a key component to reach these people.
10. Socialization hybrid approaches
As the pandemic continues, consumers fragment: those who want to return to their normal life and participate in social activities, and those who remain cautious.This means that hybrid possibilities, such as digital visits or not collecting cancellation rates, can address the needs of different consumers.Products and services must become multifaceted and fluids to serve this divided consumer base.
As I mentioned in introductory comments, these trends can be useful to adjust some of the business strategies and thus improve sales performance.Given the complicated economic environment in which we are, it is our responsibility to find and implement actions that allow us to have a better performance than that of the competition.
GAEAP General Director*
Alejandro@gaeap.com
On Twitter: @alejandrogomezt
