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The New Mexico
The Mexican economy is the eleventh in the world and gross domestic product per capita stands at nearly $14,000 dollars a year, placing it among one of the largest in Latin America. However, Mexico still has significant economic challenges.
Mexico like many other countries, experiencing major changes in the composition of the population pyramid. The increased life expectancy of Mexicans and the increasingly late postponement of childbearing has been a change in the age trend of the country that serves as a reference for the analysis of future demands of the population in education, employment, housing, health, social security and consumption.
The rate of decrease in mortality has slowed substantially in recent years. The National Population Council (CONAPO) states that life expectancy at birth increased 1.5 years from 1995 (72.4) to 2000 (73.9) and 0.7 years in 2005 (74.6).
In the 70s, the total fertility rate in Mexico was about six children per woman, but last year stood at 2.08, slightly below the generation replacement level.
The Council considers that the current level of 5.8 million adults over age 65 will total 25.9 million in 2050.
Data such as these imply that an increasingly older population will demand new services and products and even a reshaping of urban architecture and housing.
Conapo indicates that in 2050 children and young people will have been reduced significantly, while adults between 25 and 64 whom now account 48.2 million will continue to grow until the fourth decade of the century, when it reached its peak of 65.2 million.
Just as the population pyramid has been changing, so has the country's socioeconomic structure. There are a lot of Mexicans that despite the recession have been widening their purchasing power and are beginning to demand new services and products.
They are few more than 32 million Mexicans whose family income is from $3,500 to $7,000 pesos, whom for years have been virtually ignored by major consumer products companies and by the government.
These changes in population, the rapid annexation of Mexicans to the Internet and the economic recession have led to an increasingly demanding consumer. Half of consumers in Mexico are not satisfied with the services they receive, according to Global Consumer Survey 2009 of the consultancy Accenture.
Regarding consumption, Mexicans are in a state of volatility, looking for better services and products. The document reveals that 54% are in the process of searching and open to change providers and that only 29% are satisfied with their current suppliers.
Mexicans seek to maintain or increase their purchases, that their suppliers are focused on four key areas: the high quality of products and services (42%), innovation (35%), wide range of products and services (38%) and a high level of confidence (39%).
Referring to specific industries, Mexican consumers have a greater passion and real interest in Internet service, greater behavior of "search for better options" in the banking sector, gas and electricity, higher level of satisfaction in the areas of cable / satellite TV and fixed telephony and wireless; high expectations for a qualified workforce in wire lines and wireless, retailers sales and gas and electricity, and high interest in sustainable business practices in banking , electronics, retail, gas, and electricity.
These data indicate that companies are at a crucial time for the acquisition of new customers in a potential market of 108 million people, offering better conditions, better communication and more aggressive promotions.
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