Mexico, like most countries, has been hit hard by the COVID-19 global pandemic. Although the number of confirmed cases in Mexico is still relatively low compared to the United States, the impact of containment measures on the economy has been severe. With just over one full month of shutdown behind us, financial institutions are already projecting 2020 GDP growth for Mexico in the range of -9% and potentially worse. Facing this outlook, retailers are scrambling just to stay in business first, and then to plan for an extended period of bleak near to mid-term consumer spending. Continue reading Mexican retail scrambling under COVID-19
In recent years, The Mexican market for fashionable kitchen, tabletop and other products for the home has registered important growth in size and quality. The entry into the market by Wal-Mart in the late 1990s increased the prevalence of foreign products on store shelves in Mexico. Wal-Mart’s aggressive expansion has also driven its top competitors such as Comercial Mexicana, Soriana and Chedraui to step up their game with greater variety and innovation in their product lines, including housewares.
Upscale department store chains such as Palacio de Hierro and Liverpool have long featured departments offering expensive lines of kitchen gadgets, tableware and home décor items in Mexico, as have stores such as Sears and Sanborns. Regional department store chains such as Chapur in the southeast, Dorian’s in the northwest and La Marina in the central west also offer similar product lines. An important new trend is the recent emergence of specialty stores exclusively focused on products for the home.
Read more about how Mexico’s growing middle class is driving new markets for consumer goods in our post for Mexico Today.