The household expenditure on home goods in Mexico has demonstrated a consistent upward trend from 2013 to 2023. In 2023, the total expenditure stood at 1409.7 billion Mexican Pesos. Over the last two years (2022-2023), the year-on-year variations were 9.56% and 5.5%, respectively. The estimated CAGR over the previous five years (2018-2023) is approximately 6.56%, indicating stable growth.
Looking forward, forecasts predict continued growth with an estimated CAGR of 3.58% from 2024 to 2028, leading to a cumulative growth rate of 19.22% over this period. The projections indicate that by 2028, the expenditure will reach 1767.8 billion Mexican Pesos.
Future trends to watch include potential impacts of inflation and economic policies on consumer spending, technological advancements in home goods increasing compound growth, and evolving consumer preferences towards sustainable and smart home products influencing expenditure patterns.