The Mexican economy is booming. Wealth from the country’s extensive natural resources, such as silver and copper, and many other successful industries (textiles, agriculture and tourism) is contributing to a region which, along with Brazil and Chile, is bucking the great recession that continues to affect many other parts of the world. Where Europe is languishing, Latin America is saying Arriba!
As such, it’s a great time for retailers. New Malls and stores are opening countrywide. In Mexico City itself, the biggest and most complete mall, Centro Santa Fe, has added a big new extension that will open in 2013. New brands will include American Eagle, Benetton, Sears, Gap and Sephora which will be joined by flagship stores for premium International brands including Pink, Hackett, Facconable, Dolce & Gabbana, Chanel, Coach and Ferragamo.
Local retailers are implementing exciting plans too. The biggest department store chain, ‘Liverpool’, has just opened an exciting Food Court – yes that’s right, exciting and food court in the same sentence! Known as; ‘Gourmet Experience’, this combines a restaurant and deli quality food with international take-home groceries, available to eat in or take away and set within a distinctive contemporary environment. It is reminiscent of Selfridges opening in the Birmingham Bullring, although this venture is all together on a much grander and more impressive scale.
One thing that was also noticeable was how Mexican retailers are embracing digital technology – not just in a small way, but as whole concepts within retail environments. The results of this were dramatic and mesmerising. Digital media is applied to whole walls, focal points, window displays and signage – bringing brand campaigns to life in a way that 2D printed matter simply cannot compete with.