What: Despite inflation, earthquakes, and global tensions, Mexican customers continue to shop amid new store and mall openings.

Why it is important: Following relaxed health restrictions and the end of lockdowns, Mexican consumers have increased their shopping in-store. Malls continue to open at an increased pace with forecasts for 30 new locations by 2025.

El Palacio de Hierro recently opened an opulent location even after having suffered damages from the recent earthquakes one week before opening. They continue to see strong demand like Liverpool and Suburbia.

Boutiques selling men’s tailored fashion on the other hand are struggling as consumers’ buying habits move towards casual looks and international brands. Still, Mexican designer brands such as Benito Santos are performing strongly. Concept stores are also popping up in trendy quarters such as La Roma or in La Juarez, giving a chance to young talent to showcase their work.

Unfortunately, such buoyant sales are unlikely to last as a large portion of the country’s population remains poor or is living in extreme poverty. Inflation in Mexico is running at 8.7%.

Mexican retail booms