Fairsavings lands a great collab with Radio Fórmula, a leading Mexican publisher
All eyes on… Mexico. That’s right, while European markets are fearing recession and the US is stacked in recent Silicon Valley Bank affairs, the Mexican market is flying high on the economic radar.
According to Statista, the country’s revenue is expected to show an annual growth rate of 13.69% (CAGR 2023-2027), resulting in a projected market volume of US$70.44bn by 2027. Their online market is also on the up: Mexican eCommerce revenue is projected to reach US$42.16bn by 2023, a remarkable feat considering that only 54.3% of the adult population currently uses the internet (this figure is expected to grow to 66.6% by 2027).
This ever-growing group of users offer marketers, brands and advertisers a golden opportunity, as they spend an average of $600 USD per year on online purchases. They’re attracted to eCommerce shopping for the same reasons as the rest of us – convenient home delivery, attractive return policies and exclusive access to deals and special offers.
Seize the opportunity with discounts, coupons and vouchers
Besides Mexico’s economic up-tick, market trends show how the buying activities of the average Mexican still tends towards finding ways to save money.
Mexican think tank AMVO recently conducted a study asking shoppers which incentives would motivate them to make more online purchases. 70% of respondents suggested offering free delivery, 61% would purchase items with a 40% discount, 44% would buy if they’d earn a discount on future purchases, 39% asked for cashback and bonus programmes and 38% were likely to become members of point-collecting loyalty programmes.
This all goes to show that discounts and vouchers can be a driving force for steady eCommerce growth in the LATAM region.
Radio Fórmula adds value to its listeners with exclusive offers and discounts
Radio Fórmula is part of Grupo Fórmula, the leading multimedia news content provider in Mexico. Spanning three national networks and more than one hundred stations, they broadcast their programming across the Republic of Mexico and the Spanish-speaking United States. A household name for Mexican nationals, expats and Mexican-Americans alike, recent years have seen Radio Fórmula grow into a multimedia platform that connects all of these groups together.
Fairsavings, a Mitgo company specialising in vouchers and contextual advertising that has so far generated more than $25million in GMV for its advertising partners, approached Radio Fórmula for a collaboration.
Radio Fórmula Cupones is now live. Powered by Fairsavings, it is an online portal that offers Radio Fórmula listeners direct access to exclusive coupons, vouchers and discount codes for some of the world’s biggest brands in the fashion, electronics, grocery and even holiday sectors.
Together, Radio Fórmula can offer their fans something extra: the ability to save money, while, at the same time, boosting the company’s revenue by monetising its social traffic.
Radio Fórmula’s coupons programme, Radio Fórmula Cupones, can be found here.
Would you like to know more about Fairsavings and other Mitgo businesses? Come and visit us in Hamburg at OMR 2023, or drop us a line here.
Stay tuned for more news and updates coming your way soon!