Discounts, interest-free months and refunds, how to use them in the Hot Sale

As 90% of internet users are interested in additional benefits from banks and financial institutions, it’s clear that incentives like discounts, interest-free installments, and cashback play a crucial role in driving purchases. The tenth edition of the Hot Sale, running from May 15 to 23, promises significant opportunities for shoppers, with seven out of ten internet users planning to buy something during this event.

Financial Control Amid High Interest Rates

Despite the attractive deals, the current high-interest environment necessitates careful financial planning to avoid overspending. According to the Pulso Hot Sale 2024 study, 90% of users cite discounts and financial benefits as their primary motivators for shopping during the Hot Sale. However, without proper financial management, these perks can quickly lead to debt.

Interest-Free Installments: Benefits and Risks

A significant 85% of shoppers intend to purchase items with interest-free installments. While this feature is advantageous for credit card users, it’s essential to be mindful of existing credit obligations. Failure to pay within the stipulated time can negate the interest-free benefit, leading to additional interest charges and late fees. Therefore, it’s crucial to budget these monthly payments separately from other credit commitments to avoid over-indebtedness.

Maximizing Additional Benefits

Apart from discounts, 78% of potential buyers expect cashback or bonuses when using their credit cards or digital wallets. To maximize these benefits, identify which cards offer the best rewards and review the associated stores and cashback percentages on the financial institution’s website or app. Additionally, explore loyalty programs and other reward schemes that may offer year-round perks like 2-for-1 movie tickets or discounted insurance.

Pedro Rivas, CEO of Mercado Pago, emphasizes that users can enjoy financial benefits not just during the Hot Sale, but throughout the year. He encourages consumers to explore and take advantage of the various offers available in the market.

Price Monitoring and Consumer Protection

As the Hot Sale approaches, the Mexican Online Sales Association (AMVO) and the Federal Consumer Protection Agency (Profeco) work together to prevent «false discounts» by ensuring retailers do not inflate prices just before the sales event. Pierre-Claude, director of AMVO, urges consumers to report any such practices to Profeco to maintain fair pricing and a positive shopping experience.

Conclusion

To make the most of the Hot Sale 2024, consumers should focus on smart financial planning, leveraging interest-free installments responsibly, and maximizing additional benefits like cashback. By staying vigilant against deceptive pricing practices, shoppers can ensure a rewarding and cost-effective shopping experience.