What: The Pogen Index reports an 8% increase in foot traffic across Mexican shopping centres during the first quarter of 2024 compared to the same period in 2023.

Why it is important: This increase indicates a recovery and stabilization in the retail sector following years of turbulence. It underscores a shifting consumer behaviour, with physical retail regaining strength even amidst the rise of e-commerce. This trend provides retailers insights into consumer preferences and highlights the enduring appeal of in-person shopping experiences.

The retail landscape in Mexico shows signs of positive momentum in 2024, as evidenced by an 8% rise in shopping center foot traffic in the first quarter, according to the latest Pogen Index. This uptick is primarily attributed to holiday-driven shopping during March, which saw a 16.8% increase due to the Easter holidays and the Benito Juárez birthday long weekend. While the growth is not as high as the double-digit increases seen in 2022 and 2023, it represents a welcome stabilization in the sector. Major cities like Mexico City and Monterrey experienced significant foot traffic gains, with increases of 9% and 9.2%, respectively. Meanwhile, beach and border cities saw more modest rises, suggesting robust beach tourism. Retail categories such as jewellery and sportswear recorded notable increases, highlighting specific areas of consumer interest and spending. This resurgence of in-store shopping signals a balanced retail growth alongside the continuing expansion of online commerce.

Influx to shopping centers and stores advances in Mexico this 2024