Mexico - eCommerceMexico - eCommerce
According to the Mexican Internet Association’s latest available data, the Mexican eCommerce market had a value of USD 17.6 billion in 2016 and grew at an annual rate of 28.3 percent. The market will continue growing because of improvements in connectivity, enhanced financial inclusion, more streamlined logistics, and increased digital literacy. Multichannel brick-and-mortar (brick-and-click) retailers have reportedly seen their online sales grow to account for 25 percent of overall sales. In 2017, there were 79 million internet users, representing 67 percent of the population over the age of six. Surveys conducted by the Mexican Internet Association in 2018 indicate that 75 percent of internet users report engaging in eCommerce within the previous three months.
Apparel and accessories lead the categories of reported online purchases, followed by digital downloads, event tickets, and travel. PayPal, debit cards, and personal credit cards are the preferred methods of payment. However, due to a low rate of financial inclusion, many online retailers offer payment alternatives such as cash payments at convenience stores. The top incentives for online shoppers are secure payment options, free shipping, interest-free monthly payment plans, and a guaranteed return policy. There is a growing trend towards purchasing through mobile devices.
Mexican buyers report being highly influenced by social networks when making their purchases. Shoppers go online to conduct price comparisons, research product features, or find nearby stores before making purchasing decisions.
Retailers report the highest number of eCommerce sales during the December holiday season. The second largest event is ‘Hot Sale,’ an initiative of the Mexican Association of Online Retailers where eCommerce vendors offer significant discounts over three to four days. It is held in late May/early June. The third largest online shopping event is ‘El Buen Fin,’ a full-weekend promotion adopted by most Mexican retailers modeled in part after Black Friday in the United States and held in mid-November. Other major buying holidays are Cyber Monday and Mother’s Day.
Mexico eCommerce Industry Trade Development and Promotion eCommerce