If you're interested in eCommerce in Mexico, be sure to check out the Mexican edition of Marketing4eCommerce ;).
The online sales market in Mexico
- Top eCommerce in Latin America: the online stores with the most traffic in Argentina, Chile, Colombia and Mexico (SEMrush)
According to We Are Social's 2023 Digital Report, there are approximately 94 million internet users in Mexico—14 million more than in 2019—representing 73,4% of the total population. In this context, online searches are crucial for Mexicans when deciding where and what to buy.
The digital consumer continues to choose online shopping not only because of price, but primarily because they recognize the benefits of home delivery, avoiding trips to physical stores and having access to exclusive inventories, promotions and discounts from the digital channel.
According to a Tiendanube report, 7 out of 10 Mexicans perceive online shopping as a safe activity (compared to 6 out of 10 in 2020). Furthermore, 8 out of 10 shoppers report being satisfied with their online shopping experience.
While the pandemic boosted online shopping among Mexicans, Euromonitor's "The Future of Retail" study, developed for Google, predicts that this trend will continue to rise at least until 2025, accumulating a growth of 226% in the 2020-2025 period. If this holds true, the online sales sector would come to represent 24% of total retail sales in Mexico.
The marketplaces most chosen by Mexican online consumers
Based on the recent Mexico Marketplaces Study 2023 produced by Tandem Up, the 54% of Mexicans online shoppers aged between 18 and 65 (approximately 71 million) have you ever bought from a marketplace.
According to the same study, 7 each 10 Mexican online shoppers They search for information on the web Before making a purchase, 50% of Mexicans research online, and 50% finalize the purchase through this channel. Furthermore, when asked about websites where to buy, marketplaces are top of mind for Mexicans, and one in two consider them their primary source of product information, especially for... Amazon and Free market.
El Top marketplaces with the highest spontaneous brand awareness Among Mexicans they are:
According to Similarweb data, as of February 2023 marketplaces with the highest number of visits were:
- Mercadolibre.com.mx
- Amazon.com.mx
- Walmart.com.mx
- Amazon.com
- Liverpool.com.mx
According to Statista data, Mercado Libre was the most visited website in Mexico between January and September 2021, with nearly 1.300 billion visits. Amazon, the second most visited eCommerce site by Mexican internet users, received more than half the number of visits registered by Mercado Libre.
Every day, marketplaces are gaining strength in the Mexican market by offering a greater variety of models and products, as well as providing easy payment options.
The Buen Fin event boosts eCommerce in Mexico
eCommerce in Mexico has also gained momentum due to its own discount days, such as The good endwhich takes place a week before Black Friday and has gained much more strength as one of the most important online shopping events in the country.
As reflected in the data provided by AMVO and relating to 2022In that edition, El Buen Fin generated 134,4 billion Mexican pesos (approximately 6,85 billion euros) in total sales. The contribution of The digital channel accounted for 18% of total sales of the campaign, generating 23,7 billion pesos (about 1,21 billion euros)And the device par excellence for browsing and buying products was once again the smartphone with 61%.
Furthermore, that year Card payments reached 76%.This is mainly due to the use of credit when making purchases, which demonstrates greater consumer confidence in this payment method. Another noteworthy fact is that The use of cash decreased by almost half in 5 years.
Fashion: the most sought-after items by Mexican consumers
In order to detail the purchasing habits in the fashion sector via eCommerce in Mexico, AMVO, in collaboration with Elogia and Netquest, presented its 2019 Online Fashion Sales Study, in which we can find very interesting insights:
Liverpool positions itself as the leader among the preferred online stores for Mexicans to purchase fashion.since practically 1 in 4 respondents said they purchased from this eCommerce platform, followed by Mercado Libre (18%) and Amazon (18%). The average spending on fashion by Mexicans is 1,567 pesos (just over 73 euros), while the preferred form of payment is the debit card (57%).
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The profile of the Mexican buyer
According to a survey conducted in 2021, more than half of online shoppers in Mexico are between 25 and 44 years old, while only 5% are over 64 years old.
Regarding gender, while more than half of online shoppers are women, the difference with men is only six percentage points. As for region of residence, more than a third of Mexican online shoppers live in Mexico City.
While the e-commerce market in Mexico was already growing before the COVID-19 pandemic, this trend has intensified since the outbreak. It is estimated that both the number of digital users and the percentage of Mexicans who shop online will increase steadily in the coming years. By 2025, it is expected that Nearly 78 million consumers in the country make their purchases online.
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