Leo Burnett Mexico and Vitalis Encourage Consumers to “Spend For Retirement”
The new campaign unites brands, pension funds, and consumers so that Mexicans can save for their retirement while they spend.
Worldwide pension systems are in crisis, and Mexico is no exception. A sustained disruption to the economy in COVID-19 and job uncertainty has made saving imperative for all Mexicans, especially older citizens.
In fact, an estimated 70% of Mexicans will not collect their pensions, and organizations such as the OECD have already warned about the need to reform the pension system.
Faced with this reality but rising to the challenge to change it, Leo Burnett and Vitalis partnered to launch the “Spend For Retirement” campaign—known in México as “Millas® para el Retiro”—a financial mobile app where brands and pension funds collaborate to allow Mexican consumers to save for retirement while they spend money on everyday needs.
The app invites brands to contribute a percentage of their product prices as a credit on the shopper’s retirement account—and brands such as Grupo Alsea, Domecq and several more have already signed on to this solution for Mexicans to live a dignified life post-retirement.
The service connects to all pension funds in Mexico and consumers register directly on the platform to instantly receive their credit.
“For the first time, we are facing a real solution to the problem of poverty in old age,” says Federico Russi, Leo Burnett Mexico CCO. “It’s a collaborative solution and evidence that the union between creativity, innovation, and technology to improve people’s lives is the only way forward.”
The app already has 100,000+ users, and has been recognized by several global organizations, including the UN and World Pension Summit. It’s also estimated that by 2027, the total voluntary savings accumulated thanks to “Spend for Retirement” will be $350M USD—supporting Mexican customers into the future.
Regional Creative Chairman
Chief Creative Officer
Executive Creative Director
Marketing Comms Director Mexico/ Iberia
Juan Pablo Camargo
Chief Strategy Officer