“Tarjetazo” the savior of Mexicans in hot sales | Economy

Buyers in Mexico are ready to borrow in the tenth edition of Hot Sale, the e-commerce initiative organized by the Mexican Association of Online Sales (AMVO), in which more than 600 companies are expected to participate, being retailers and services the main protagonists of this virtual event.

But borrowing through credit cards seeks to steal the stage in this event. according to Hot Sale 2023 Forecast Survey Prepared by AMVO, 83% of users who plan to make a purchase will do so with credit cards, while in 2022 this group represented 70%.

“I make little, so I made a 36-month interest-free purchase,” says Alberto, a consumer who bought a refrigerator last year but kept paying down his debts. “I would like to buy this year, but I haven’t decided yet,” he says.

The interest-free monthly payment system received particular attention among the regulars of this initiative, with 18% of the preferences choosing the payment system over cash or a one-time payment. According to data from Hot Sale, during the 2022 edition, more than 12 million people made a purchase ConnectedSales totaled 23.2 million pesos, up 25% over the previous year.

In this regard, the National Committee for the Protection and Defense of Users of Financial Services (Condusef) and the Federal Consumer Advocate Office (Profeco) called on buyers to avoid buying products immediately without first checking personal or familiar financial condition. “It is suggested to make a budget, make a list of needs and review offers and promotions, as well as buy on secure pages, check that they have complete information and return policies, and know guarantees and delivery times,” the agencies recommend.

The level of debt that buyers can access is also a red flag. While last year the average purchase amount was 1,629 pesos (nearly $100), this year AMVO expects a ticket The average is around 5,000 pesos (about $280).

Consumers aren’t exempt from a good headache over a bad purchase, cancellation, or failed merchandise. Last year, Profeco received 68 hot-selling complaints, with unjustified purchase cancellations and breach of offers as the main reasons for complaint. The suppliers that received the highest number of complaints were Huawei, Walmart, Amazon, Liverpool, Elektra, Office Depot, Soriana, and Sears.

Tips to improve your shopping experience during Hot Sale

Condusef and Profeco have issued a series of recommendations so that internet users can make their purchases in a safe and informed manner and get the best deal.

• Set a budget, make a planned purchase and avoid falling for pop-up ads.
• Compare on several pages the price and characteristics of the good or service you wish to purchase.
• Verify that web pages are secure, that the browser displays a padlock symbol, and that the web address begins with “https”.
• Review comments from other buyers.
• Avoid using public networks or opening Wi-Fi connections.

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