MXN$45 million revenue forecast for Mother’s Day

With gifts ranging from MXN$500 to MXN$1,300, sons and daughters are expected to treat their mothers this Thursday for Mother’s Day .

A significant sale increase is expected for businesses in Mexico on this special occasion, particularly for restaurants, chocolates, clothes, electronics, perfumes, jewelry, and cosmetics, according to Mexico’s Confederation of the National Chambers of Commerce (CONCANACO) and the Chamber of Commerce, Services and Tourism in small (CANACOPE) .

The chairman of CONCANACO, José Manuel López Campos assured that, on mother’s day, the sales in formal businesses will show an increase of 3% around the country, with a profit of MXN$45,400 million.

The most sold products will be candy, chocolate, clothes, accessories for women, perfume, jewelry, and cosmetics, with an increase of 4.2% in sales, although restaurants will expect a 2.8% increase in annual revenues. In this regard, the president of the CANACOPE in Mexico City, Ada Irma Cruz Davalillo , explained that the forecast is based on a survey made from 16 to 23 April of the present year, to 200 business owners and managers. The study shows an increase in positive sales for restaurants, bars, cantinas and coffee shops, among other businesses that specialize in food and entertainment such as flower shops, record stores, electronics, chocolates, accessories, clothes, and shoes.

Since 10 May will be Thursday, six of every 10 citizens of Mexico City claim that they will celebrate on that very day, while the rest will wait for the weekend, which will be good for the commercial sector.

“For this year, the estimated individual budget to celebrate mother’s day will be of MXN$1,100 , depending on whether or not the woman will be celebrated at a house reunion or at a restaurant; as for the gifts, the estimated expense will range between MXN$500 and MXN$1,300. Which gives us hope for an economic revenue of around MXN$1,780 million in Mexico City; 6.5% above the revenue from last year. This is mostly due to factors such as inflation, variations of the US dollar, and an increase in the demand for related products and services,” José Manuel López Campos explained.

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