The economic paradox of the Christmas spirit
It seems that the economic slowdown and lower consumption are like the Grinch for Mexicans: a threat that everyone decides to ignore with cheerful self-confidence. While the headlines talk about recession, the average citizen is getting ready to spend a whopping 6,359 pesos in gifts. 15% more than last year? Of course, because nothing says “let’s tighten our belts” like increasing the budget for toys and perfumes. The consulting firm Kantar, in its study “What moves the Mexican consumer at Christmas”, reveals this gem of human contradiction: the more the crisis tightens, the more the wallet loosens. A financial strategy, without a doubt.
“Planning” or the art of justifying spending
According to the wise men of Kantar, the Mexican is now a being with better planning. He no longer waits for the bonus to pay overdue debts (how boring and sensible). No no. Now, events like The Good End are used with the precision of a military strategist to accumulate loot. Paloma Sevy, advisor to the firm, enlightens us with pearls of wisdom: “by being more planned, when they receive this extra money, they can distribute it further to December expenses.” Translation: they have already mentally separated what part of the bonus will go to dinner and what part will go to the latest iPhone. An exemplary distribution where only 27% saves, while the rest goes on household expenses (39%) and outstanding debts (34%). A model of responsibility, right?
But the real protagonist of this financial comedy is the credit card, which with a 31% preference (11 points more!) is crowned the queen of the holidays. The reason? The promotions, the points and that magical phrase “until January”. Because nothing celebrates the birth of Jesus better than postponing payment until the new year. Cash, that old-fashioned one, loses 9 points. Apparently, “spending money you don’t have” is the new Christmas carol.
The catalog of the essential (and the absurd)
And what does this money go towards? Kantar gives us a list that is a poem about priorities. They lead, with 91%, clothing or shoes. Because in December it’s cold enough to justify buying new clothes, of course. They are followed by chocolates or cookies (88%) and accessories (86%). Toys (80%) narrowly beat wines or spirits (78%), a healthy competition between childhood joy and the adult desire to forget about expenses. The most touching thing is that some plan to give 10 gifts on average. Because what is Christmas if not a logistical marathon of shopping, wrapping and delivery?
Where is this treasure acquired? 50% still prefer physical stores, perhaps for the pleasure of fighting for parking and waiting in line for half an hour. Liverpool and Walmart share the throne (50%), while Coppel (47%) and Bodega Aurrerá (32%) are the people’s favorites. But the stellar growth is for the price clubs (29%, +7 points). Because buying whiskey and ham for dinner in bulk is now as Christmassy as the tree.
In the digital world, Amazon (78%) and Mercado Libre (77%) reign. The comfort of shopping in your pajamas, with your credit card at hand and the illusion that “this doesn’t count as a real expense,” is irresistible. Liverpool online is also growing, showing that you can be traditional and modern at the same time, especially when there are promotions involved.
In short, the Mexican navigates the slowdown with a toast in one hand and a credit card in the other, carefully planning how to spend what he may not have on things he may not need, but that will undoubtedly make someone happy (or at least avoid a look of disappointment on Christmas Eve). A perfect choreography of hope, debt and festive spirit that, it must be admitted, moves the world.
Do you identify with this portrait of a Christmas shopper? Share this gem of financial irony on your social networks and discover more analysis about how we spend (and deceive ourselves) in our economy and consumption section.
