Filipino exporters worried about the tightening regulatory constraints and stiffer tariffs in their traditional markets like the United States can expand into other key markets such as Mexico, according to a resource speaker at a recent trade conference in Makati.
Mexico, the southern neighbor of the US, is a promising export destination for many Philippine products as long as exporters make an effort to study this market thoroughly, says a presenter at a Department of Trade and Industry-sponsored convention in Makati recently.
To tap this market, exporters should keep in mind the key consumer trends in the country, among which are health-promoting and natural ingredients, personalization and sustainability in beauty and personal care, climate change awareness, value beyond price, emotional and social connection, environmental nostalgia and heritage, and financial optimism amid strain.
Trendy products in terms of skincare and cosmetics include those underlining sustainability and innovation. One brand boasts the plastic-free quality of its makeup products, while another offers sustainable skincare lines named after emotions to highlight the connection between emotional wellbeing and skincare. Yet another brand provides products designed for Latin skin types, especially those prone to oiliness and acne.
At the same time, becoming popular are products that are personalized and community-driven. For example an app has been developed by a company intended to help friends organize get-togethers, reflecting the trend to facilitate real-life connections. Another brand makes co-created fragrances that entails involving consumers in product development, which leads to unique fragrance launches.
Meantime, riding the heritage and environmental nostalgia trend, one firm is selling a range of beans at risk of disappearing so as to appeal to nostalgia and the desire to preserve traditional Mexican flavors.
Multifunctional homecare products are also growing in popularity, with one producer creating a multipurpose cleaner that has insect-repellent properties and uses natural and biodegradable ingredients.
Collaboration with influencers and local icons is likewise on the rise, resulting in special-edition footwear inspired by Mexican cuisine and pop culture. This movement specifically targets Gen Z and millennials seeking self-expression and authenticity.
The trend for premium and craft goods, meanwhile, is exemplified by ready-to-drink premium cocktails created by renowned mixologists, highlighting the value of human craft and local ingredients.
For those interested in accessing the Mexican market, they are encouraged to look into the potential distribution channels for their products.
Major retailers in the country include Walmart de Mexico, large supermarket chain Soriana, and dominant convenience store chain OXXO.
Other possible distributors include specialty stores, department stores, discount stores, shopping centers, markets, and corner stores.
Exporters may also look at e-commerce and social media as other avenues to promote their wares.
As a trading partner, Mexico is the 26th export market of the Philippines, with annual exports of about US$403 million or a 0.32% share of Philippine exports. The Latin American nation is the Philippines’ 15th import supplier, with its imports amounting to $881.55 million or around 1.2% share of Philippine imports.
