The Three Wise Men usually set aside between 1,500 and 4,000 pesos to purchase gifts for each child, and this year the market will be online.
In Mexico the most common gifts for Día de los wise menAccording to a survey by the Chamber of Commerce, Services and Tourism in Small Mexico City (Canacope Servytur) on January 5th and 6th, it is about toys, smartphones, devices and electronics as well as clothing and sporting goods. .
The three wise men mainly have to bear the cost of this date: assign part of their salary (16%), apply for a loan (15%), take advantage of previous promotions like the Good End (12%), make use of credit card (10%) , sell some things (10%), work overtime (9%), take advantage of the Christmas bonus (9%), save in advance (8%) and mortgage some things (5%), according to data from the same survey.
According to the National Institute of Statistics and Geography (Inegi), it found that the value of toy sales in the first nine months of 2019 was 300.8 million pesos, which is the 40% contraction caused by COVID-19.
Another fact to consider: the three wise men usually set aside between 1,500 and 4,000 pesos to purchase gifts for each child. This puts an economic burden on the trading sector of 2,500 million pesos just for this holiday of the year. According to an opinion poll by the Chamber of Commerce, Services and Tourism in Small (Canacope) of Mexico City, 99% of the capital’s children receive a gift from the wise men this January 6th.
The majority of toy consumers are infants under the age of 12 who receive these types of gifts not just for Christmas and New Years. You also need to count child’s day, birthdays, baptisms, first communions, etc.
The first advantage of this business model is that you can set it up in a physical format (with a commercial store), mobile (a booth that can be in squares, fairs or bazaars) and even online (via a portal) from the Internet). Whichever option you choose (or combine), you need to find good quality legal toy suppliers that offer you a wide variety as well as competitive pricing and credit.
The fact that this is a point of sale does not mean that there is old or defective inventory, but rather toys that never go out of style: from tricycles, balls and dolls to racetracks to educational games. Make sure you invest between $ 100,000 and $ 150,000 to add variety to your customers. Add an additional $ 100,000 to rent and customize a building, or to develop a website (rich in photo material).
A good strategy to make yourself known is to attend school fairs or bazaars. Such events meet fathers who will win you over with two important added value services: price and quality.
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