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Report
Mexico E-commerce Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)
Market Report I 2022-06-01 I 100 Pages I Mordor Intelligence
The Mexico e-commerce market is expected to register a CAGR of 16.8% during the period 2022-2027. The Latin American e-commerce market has been recording robust growth over the last few years, thereby offering exciting opportunities for online retailers across various sectors. Mexicoance is one of the major consumer markets in Latin America, and it is also an important e-commerce market.
Key Highlights
In Mexico, social media is widely used. The most popular social media platform is Facebook, which WhatsApp and Instagram follow. When it comes to making purchases, Mexican shoppers are heavily influenced by social media. By 2025, Conversational Commerce, or C-commerce (sales via Facebook or WhatsApp), is predicted to account for 40% of all eCommerce sales in Mexico.
The Mexican eCommerce market grew by 18 percent in 2021, contributing to a global growth rate of 29 percent. eCommerce sales are continuing to rise. New markets are forming, and established markets have the potential to grow even more. Over the next few years, global growth will continue.
Debit cards and personal credit cards are the most popular payment methods. On the other hand, many online businesses provide payment options such as cash purchases at convenience stores. According to the Mexican Online Sales Association, cybersecurity threats are barriers to expanding eCommerce usage, with 80 percent of eCommerce users concerned about electronic fraud and 74 percent hesitant to provide financial information online.
In Mexico, the COVID-19 pandemic has accelerated the adoption of eCommerce. The Mexican Online Sales Association estimates that the domestic eCommerce business will be worth USD 15.8 billion in 2020, up 81% from 2019. In 2020, Mexico had 50.7 million eCommerce users, up 9% from 2019.
Key Market Trends
Adoption of online mode of purchasing
In Mexico, online marketplaces such as www.mercadolibre.com.mx and www.amazon.com.mx are popular. With 128 million monthly views, Mercado Libre was the most popular e-commerce site in 2020, followed by Amazon with 64 million monthly visits (Statista).
Furthermore, several brick-and-mortar retailers have had great success growing their e-commerce sales. Walmart Mexico's internet sales increased by 13% in 2020, whereas Liverpool's online sales soared by 26%. Amazon announced a USD 100 million investment in 2020 to establish two new distribution centers and 12 delivery stations in Mexico as a result of e-commerce expansion.
Mexico's market expansion is likely to continue in the coming years. Product sales in Mexico have increased, particularly in categories such as hardware, cosmetics, and video games. Another sign of market saturation is Mexico's 36 percent online penetration, which means that in 2021, 36 percent of the Mexican population will have purchased at least one product online.
International companies seek to increase their global footprint and stake a claim in the expanding Mexican e-commerce industry, increasingly targeting Mexico. Alibaba, the Chinese e-commerce powerhouse, is one such example. It is investing in the creation of 'digital communities' in each of Mexico's 32 states in order to increase online spending.
Competitive Landscape
Mexico's e-commerce market is moderately fragmented in nature. Key major players include ZAmazon, Shein, Walmart, and Zegna. These major players account for a considerable percentage of online sales in the region and actively participate in partnerships and product innovations to gain more market share.
January 2022 - Walmart de Mexico y Centroamerica, through its Board of Directors, announced that it is considering strategic alternatives regarding its operations in El Salvador, Honduras, and Nicaragua, focusing efforts and capital on its main businesses and geographies. These alternatives could include but are not limited to possible joint ventures, partnerships or strategic alliances, a sale, or other transactions.
December 2021 - Walmart de Mexico y Centroamerica inaugurated a new Distribution Center (Cedis) located in Mexicali, Baja California. With an investment of 986 million pesos, the new Cedis will have the capacity to process the entry and exit of nearly 5 million boxes per month to supply Bodega Aurrera (24), Mi Bodega Aurrera (10), and Walmart Supercenter stores. (15), and thus meet omnichannel purchase orders in the states of Baja California and Sonora.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness-Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Key market trends and share of e-commerce of total Retail sector
4.4 Impact of COVID-19 on the e-commerce sales
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Adoption of online mode of purchasing
5.2 Market Challenges
5.2.1 Rise in Cybercrime
5.3 Analysis of key demographic trends and patterns related to ecommerce industry in Mexico (Coverage to include Population, Internet Penetration, ecommerce Penetration, Age & Income etc.)
5.4 Analysis of the key modes of transaction in the ecommerce industry in Mexico (coverage to include prevalent modes of payment such as cash, card, bank transfer, wallets, etc.)
5.5 Analysis of cross-border ecommerce industry in Mexico (Current market value of cross-border & key trends)
5.6 Current positioning of country Mexico in the ecommerce industry in Latin America region
6 Market Segmentation
6.1 By B2C ecommerce
6.1.1 Market size (GMV) for the period of 2017-2027
6.1.2 Market Segmentation - by Application
6.1.2.1 Beauty & Personal Care
6.1.2.2 Consumer Electronics
6.1.2.3 Fashion & Apparel
6.1.2.4 Food & Beverage
6.1.2.5 Furniture & Home
6.1.2.6 Others (Toys, DIY, Media, etc.)
6.2 By B2B ecommerce
6.2.1 Market size for the period of 2017-2027
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Amazon
7.1.2 Walmart
7.1.3 Shein
7.1.4 Zegna
7.1.5 Coppel
7.1.6 Liverpool
7.1.7 Costco
7.1.8 Sam's club
7.1.9 El Palacio de Hierro
7.1.10 Grainger
8 Investment Analysis
9 Future Outlook of the Market
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