Department Stores To Tackle Slowdown With Aggressive Marketing
News: Mexican department stores have started implementing aggressive marketing tactics to attract consumers amid slowing demand. 'Point-of-sale campaigns are also more aggressive, and the department stores are definitely going to increase their marketing investment this year and next,' said Marisol Huerta, a retail analyst with brokerage firm Banorte-Ixe (WWD). Huerta added that the slowdown was likely to continue until 2015 and that consumers' purchasing power is set to be curtailed by increased rates of income tax, capped at 35% by a fiscal reform passed by Congress. Departmental store sales are expected to go up by 8-10% in 2013, compared with an average annual rise of 10-15% since 2008.