Rising inflation and the prospect of future economic downturns have led Mexican consumers to spend only on essentials, try new brands to cut costs, and buy more secondhand items, according to a survey conducted by EY.
According to the most recent study by the audit, tax, consulting, strategy, and transaction services firm EY Future Consumer Index, there has been a dramatic shift among consumers in Mexico seeking to prioritize affordability and health, whereas previously there was more interest in putting the planet first, health, and experience.
Health was the most important priority for 32 percent of Mexican respondents, followed by affordability (24 percent); the planet (21 percent); society (13 percent); and experience (10 percent).
In October 2022, 34 percent of respondents nationwide prioritized putting the planet first; 21 percent prioritized health; 16 percent prioritized experience; 15 percent prioritized affordability; and 14 percent prioritized society first.
Meanwhile, 55 percent of those who indicated that health comes first have strong concerns about their mental health. Similarly, 49 percent say they are very concerned about having access to quality healthcare.
