Mexicans will spend 600 pesos on Christmas gifts – El Sol de México

After confinement, Mexicans want to celebrate Christmas with their loved ones and pamper them, so they plan to spend between 400 and 600 pesos on gifts compared to last year, a study by Kantar revealed.

On average, this expense will be distributed into eight gifts, which is two more than in 2020, the company added.

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According to the consultant, 86 percent of Mexicans plan to celebrate Christmas and invest in gifts and dinners.

In a survey, the company found that Mexicans would allocate Christmas bonuses primarily to clothing, shoes, gifts, and Christmas parties or dinners, with about 70 percent of spending. To a lesser extent, between 25 and 40 percent, they will spend on trips, services or family payments.

“These are moments of celebration, family union and the pampering of our loved ones, so the average Mexican spending on Christmas gifts will increase this year,” said Marion Tangaci, Vice President of Business Development for Cantar Mexico.

The advisory report highlights that with the lifting of health restrictions, two-thirds of Mexican consumers will primarily make their Christmas purchases in physical stores, while 34 percent will do so online.

A WorldRemit report published this week indicated that Mexico is one of the countries that spend the most on Christmas.

Among the 14 countries the payment company observed, it highlighted that Mexican families spend an average of 148 percent of their monthly income on these dates.

The figure is much higher than what is spent in the United Kingdom and the United States, for example, where families at this time spend nine and 14.4 percent of their income, respectively.

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According to the company, Mexican families spend just over 19,500 pesos, including 4,000 pesos on food, around 7,000 pesos on decorations and 8,600 pesos on gifts.

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