Department Stores in Mexico Launch Aggressive Marketing Campaigns to Increase Sales Britteny Dee - Fashion Times
go to original December 31, 2013

Milla (Reuters/Yves Herman)

As growth in Mexico's economy begins to slow down, the country's leading department stores have initiated a series of marketing campaigns to increase sales.

"[The department stores] have always launched seasonal advertising campaigns, but this year they are more intense," Marisol Huerta, a retail analyst with brokerage Banorte-Ixe in Mexico City, told WWD.

"Point-of-sale campaigns are also more aggressive, and the department stores are definitely going to increase their marketing investment this year and next."

Department store sales are slated to grow 8 to 10 percent this year, compared to the annual average growth of 10 to 15 percent since 2008.

Huerta said that this economic slowdown is expected to last until 2015. On top of the dip in the growth of sales in stores, Congress also approved a fiscal reform, which capped personal income taxes at 35 percent from 28 percent.

"We don't see a clear economic growth dynamic for next year, and Mexico is going to suffer from higher taxes," Huerta said.

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