The Mexican economy needs to reactivate its domestic consumption as soon as possible and May represents an opportunity with the start of the online sales season that the Hot Sale brings and that will be held from the 23 to 31 of the current month.
During those days, about 600 stores and businesses will offer discounts on their products and services in order to consolidate the long-awaited recovery.
Before taking advantage of the offers and saving, it is important to take into account the recommendations shared by Elvira Méndez, a finance specialist from the La Salle University Business School; and Pierre Blaise, general director of the Mexican Association of Online Sales (AMVO).
“The discounts that are going to be offered in Hot Sale are very important, so for Mexican families there is a good opportunity to save, anticipating some purchases, making some purchases that will be needed during the rest of the year,” said the director of AMVO .
Safety
Just over a year after confinement began to prevent coronavirus infections, Mexicans are “quite used” to shopping using digital media, said Pierre Blaise.
The first thing to know is that all the companies that signed up for this discount program are registered at hotsale.com.mx. “The only directory is from the Hot Sale site directly. A company that is not in this directory is a fraudulent company ”, assured the general director of the AMVO.
Electronics and fashion are the categories with the highest purchase interest for this year, followed by household appliances, toys and video games, furniture and home, according to the Hot Sale 2021 expectations report.
It is worth taking into account the following recommendations before making an online purchase:
9 out of 10 potential buyers feel safe when buying online, according to the report published by the AMVO.
Watch your pocket
With offers from more than 600 participating establishments, it is not difficult to get lost, so it is important, among other things, to plan purchases and prioritize the needs of tastes and whims.
“Many times we go with the part ‘I liked it’ or ‘I want it’, but it is something that we do not need,” said Elvira Méndez de La Salle. Hence the importance of planning purchases and defining priorities.
People plan to spend between 3,000 and more than 10,000 pesos, according to the Hot Sale report, while 6 out of 10 people plan to buy the same as other editions and 2 out of 10 say they will buy more.
It is important to buy, since several establishments can offer the same product or service, agreed Blaise and Méndez.
Listen to us
Another important point is “if they are going to charge me an additional cost for shipping,” said the specialist from La Salle.
The main payment method will be the credit card (61%) and debit card (40%), highlighting digital bank cards (36%) and ewallets (26%).
On May 23 will be the Citibanamex presale and bank cardholders will have exclusive promotions. From the 24th the other banks will also offer special promotions, detailed Pierre Blaise.
In the case of paying with credit cards, it is important not to exceed the payment capacity and avoid over-indebtedness.
“We must also observe that if we use our credit card, we have several and we know that we will not be able to settle in a timely manner, use the one with the lowest total annual cost (CAT), for when the interest is calculated, we will not be paying a card that is generating a greater debt for me, “suggested Elvira Méndez.
How do I determine my borrowing capacity?
“To obtain our debt capacity, what is suggested is to consider the income of the person or the family. For example, a single person. We are going to deduct all the expenses you make during the month –services, food-, and it will give us a cash flow. From that cash flow, it is recommended to deduct an amount that represents 10% of our income, that will be our saving capacity; Once that saving capacity is subtracted, I will have the capacity to borrow ”, explained Elvira Méndez.
