Food, technology and beauty, the favorites

If there is something that Mexicans love, it is food, all the gastronomic offer available in the country, as well as drinks. In addition, they are lovers of technology such as gadgets, video games and other services, and are increasingly concerned about their personal care and the order of the house. Therefore, it is not surprising that if you want to start a business, the best bets are for these sectors.

From May 2019 to July 2021, 1.2 million of micro, small and medium enterprises were born in Mexico, 12% more than in previous years, being the sectors of tradewhere the areas of food, technology and personal care belong, the most demanded, according to data from the National Institute of Statistics and Geography (Inegi).

“The Business Demographics Study (EDN) 2020 estimated that they were born 619,443 establishments and definitively closed 1 million 010,857; while the EDN 2021 estimated that 1 million 187,170 were born and 1 million 583,930 closed”, the report indicates.

start with gastronomy

The economic units of the restaurant industry represent 12.2% of all businesses in the country and generate just over two million jobs, according to the Inegi, so everything related to this topic represents a great opportunity to undertake.

Of these, 96 out of every 100 economic units are micro-enterprises with up to 10 employees, and they are the ones that offer jobs to 70 out of every 100 people employed in the sector. In addition to generating profits for the entrepreneur, the Mexican economy is favored with the generation of jobs. At least, one in 5 young people has his first work experience in a restaurant, indicates the National Chamber of the Restaurant and Spicy Food Industry.

Online, this category is also one of the most significant, as it is what is most requested, especially in mobile applications, according to the Mexican Association of Online Sales. During the sixth wave of Covid-19, the one registered in January of this year, the preference for home delivery was 53%, while in the fifth wave (October 2021), it grew by 55 percent.

The challenge that these businesses are facing is the rise in costs due to inflation, so they are looking for menu strategies such as changing brands or buying in bulk to offer more affordable prices.

Technology

Technological progress is in all areas, with cell phones that Mexicans increasingly seek to obtain the latest trend, as well as with accessories or elements that allow them to make life easier and entertain themselves.

In this category you can market with software, gadgets, video gamesdigital and cellular services, or other devices.

Online, this category represented 33% of purchases in January 2022, and 36% in October 2021, when the fifth wave of Covid-19 was experienced.

In relation to the video gameMexico is positioned as a leader in Latin America, as there are 55.8 million gamers On average, they allocate more than 1,000 million dollars a year. Globally, the country ranks 12th place and it has become one of the countries that export the most animation, video games and software, reveal data from Newzoo, an esports analysis provider.

Personal articles

One of the products that has grown most in popularity in this category are those of beauty and personal care. Despite the fact that in 2020 the sector had a drop in annual sales of 4.5%, in 2021 the sales rose 8%achieving a favorable recovery, indicates the Mexican Association of Direct Sales.

The best-selling products are skin caremakeup and that are sustainable and cruelty free.

In addition to this, this category of personal items includes products for the home and pets, the latter being the ones that have grown in importance with food, accessories and care, beauty and health services. In e-commerce, consumers of pet products grew 9% during a pandemic, as well as food and products with 27%, says the AMVO.