Brand Loyalty and Mexican Consumers
The poll of 2,200 shoppers from Mexico and 1,000 from America found 70% of the former had trimmed their spending since the beginning of the downturn. By comparison, only 45% of the latter had done so.
The key difference would appear to be in restaurant spending. Some 66% of Mexican consumers noted they have reduced the amount of food they consumed outside the home vs. 47% of U.S. consumers.
Among those ordering food for takeout, 63% of Mexican consumers had reduced their spending, compared with 43% of Americans, and 60% of Mexicans had cut their prepared food purchases, as opposed to 34% of Americans.
In the grocery store, however, Mexican consumers have largely retained their shopping patterns. Only 4% had switched to less-expensive alternatives within the previous 12 months. Just 6% of Mexican consumers chose more-affordable carbonated beverages during that time, and 3% opted for lower-priced rice. Some 13% of Americans chose less-expensive options in those areas.
Only 1% of Mexican consumers opted for less-expensive candy options. In the U.S., 8% of American consumers traded down for less-expensive confections.
“The food category exemplifies how Mexican consumers have, overall, remained loyal to their brands,” McKinsey & Co.’s study contends.