“Complicated” summer for retailers due to the elections

The elections on June 2 will cause greater caution in the spending of Mexican consumers.

According to Getin, a Mexican company that offers an intelligent scientific traffic counting system in retail establishments, with the presidential elections they are expected to experience a low purchase conversion in June and July, which can become a complicated summer for physical stores.

Based on consumer behavior data collected since July 2018, the year in which the most recent federal elections were held, and combined with information from 2023, the firm estimated that the trend of low spending among Mexicans could extend to the two months after the election, with a significant impact in July, the most affected month.

“Although it is expected that footfall at points of sale will not decrease drastically, the conversion of these visits into effective purchases probably will.

Without being statements written in stone, we hope that people go out for a walk, but with the difference that it could be a difficult summer for physical stores, given the low willingness to buy. Knowing this information, brands are the ones that have the power to reverse this trend.said Francisco Álvarez, director of operations and co-founder of the Retail Analytics platform.

At the end of the election cycle, around September, Getin anticipated a normalization of consumer behavior, providing a window to recover and potentially increase sales attraction toward the end of the year.

Predictions seek to mitigate impacts

This approach based on real data and advanced analysis is essential to help the clients of the leader in analytics for the sector retailto navigate successfully in these uncertain times.

The company stressed that these data should be taken as predictions and do not determine the final results, nor are they absolute certainties. However, they seek to mitigate short-term impacts and also strengthen operations.

That is why the electoral period can be faced by applying promotions or generating exclusive events to motivate purchases; implement strategies marketing personalized to transform the intention of “walking” into effective purchases, such as offers for those who participate in the vote.

During the week, the National Chamber of the Restaurant and Seasoned Food Industry (Canirac) presented the sector’s initiative to promote citizen participation in free and secret voting on June 2.

“This campaign called ‘Free Coffee to those who vote’, invites the sector to recognize customers who exercise their right to vote, granting them a courtesy or other promotions,” highlighted Daniela Mijares, executive president of Canirac.

Predictive analytics allows brands to anticipate and respond effectively to changes in consumer behavior, adjusting their product offerings and reinforcing loyalty campaigns to maintain relationships with customers.