May 14, 2025 – In today’s world of volatility and economic uncertainty, understanding consumers’ purchasing and spending preferences under various levels of financial constraint is critical for the food and beverage sector. Innova Market Insights reveals consumers’ spending priorities in Mexico. We explore the key areas, like income level and income expectations in Mexico, food and beverage spending changes, and core eating-related values among different income groups.
Spending Habits in Mexico
The increased cost of living, healthy lifestyle, health of the planet, technological advancements, and political factors are the global megatrend drivers affecting the spending habits of Mexican consumers.
Most of the consumers in Mexico express high concerns regarding personal finances, along with health and personal safety concerns. Yet, consumer spending trends show that 52% of them believe their financial situation will be better in the upcoming year and express a positive outlook. Across all generations, particularly Millennials have positive outlook about their economic future.
In general, consumers in Mexico have spent more on food and beverages compared to the previous year. As income levels increase, so do grocery expenditures. Consumers with high and mid-high incomes are more likely to cite an increase in grocery spending.
Generational Characteristics
All generations in Mexico have increased food and beverage spending, except Gen Z. Inflation is the most frequent reason for increased spending, followed by an improved financial situation. Meanwhile, saving money is the top priority for those who have decreased spending on food and beverages.
Consumers in Mexico are adopting various strategies to curb food and beverage spending. Cooking from scratch, purchasing in bulk, and opting for cheaper products are the most frequent measures taken by them.
The Rise of Private Labels
Private labels play a relatively minor role compared to other strategies for reducing grocery expenses. Spending trends indicate that 1 in 5 Mexican consumers have increased private label product purchases. They rate private label brands as good value for money, accessible, and having product variety and diversity. Cost perceptions are the primary factor influencing the purchase of private label items.
Private label brands are winning in comparison to name brands when it comes to value for money and accessibility. On the other hand, name brands are outperforming private label brands in most aspects, including quality, nutritional value, and indulgence.
Consumer perception regarding private label brands is increasingly positive, with 65% of Mexican consumers indicating that the product quality of these store brands has been improving.
Product Quality is Important
Health and wellbeing are the top eating-related values for Mexican consumers. Equality and sustainability are other top values related to eating. These top choices are consistent across all genders, generations, and income groups.
Healthy products that are nutritionally superior are considered good value for money among individuals across all income levels. Consumer spending trends reveal that lower-income groups place greater emphasis on appropriate quantities in order to avoid waste. On a generational level, Boomers and Generation X care more about fitting quantity than younger generations. Conversely, higher-income groups, along with Millennials and Generation Z, focus more on premium quality.
Spending Priorities
Health and wellbeing, followed by holidays, are the highest-ranking spending priorities. This highlights the significant value that consumers place on physical and mental wellness as well as experiences, surpassing food and beverage-related activities.
Savings and investments play a big role in Mexican spending priorities as well, highlighting the importance of personal finances in spending. Consumers are willing to spend extra on convenience, freshness, and locally produced product features.
What’s Next in Spending Priorities Trends?
Consumers in Mexico have an optimistic outlook on their financial situation. They believe good value for money means products with health benefits and nutritionally superior ingredients. This presents an opportunity for brands to win over consumers with high-quality products, focusing on healthy, nutritious food and beverages, even during economic downtime.
Locally sourced products are of high importance for Millennials and Generation X. Manufacturers and companies can offer products that resonate with these generations by highlighting the sourcing or use of local ingredients on packaging.
Consumer spending trends research shows that store or supermarket brands are well received for good value for money and perceived as equal in terms of accessibility. Consumers are more likely to stay loyal if they feel satisfied that the products are producing good value for money. Brands are likely to focus on nutritious and high-quality ingredients, local sourcing, and affordable pricing to resonate with changing consumer preferences.
This article is based on Innova’s Now & Next in Spending Priorities of Consumers in Mexico report. This report is available to purchase or with an Innova Reports subscription. Reach out to find out more
