Insights into the growth of Mexican eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Mexico is home to 127.5 million people with a total GDP of 1.05 trillion USD and is ranked as the 11th richest country, according to the World Bank GDP per capita rankings. Mexico’s GDP per capita is currently 8,959 USD and expected to reach 10,765 USD by 2021.
Digital User Insights
There are currently 37.3 million eCommerce users in Mexico, with an additional 11.2 million users expected to be shopping online by 2021. Four years from now, these 48.5 million eCommerce users will spend an average of 306.64 USD online.
Dividing internet usage into age groups gives a better picture of the Mexican eCommerce market – 84% of 16-24 year-olds, 84% of 25-34 year-olds, and 73% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 75% and 80% daily penetration rate, respectively.
Total Mexican eCommerce revenue across all product categories is 8.53 billion USD, and is expected to grow to 14.88 billion USD by 2021. Fashion is currently the leading product category in Mexico, accounting for 2.26 billion USD market share, followed by Electronics & Media which generates 2.48 billion USD in sales.
By 2021, Fashion will still be the most purchased online category, with a value of 4.16 billion USD, and second favourite, Electronics & Media will have an expected worth of 3.89 billion USD.
Where does Mexico buy from?
The US supplies Mexico with 188 billion USD in imports – ranging from vehicle parts to computers. Mexico’s other key import partners are China (64 billion USD), Japan (15.5 billion USD), South Korea (13.6 billion USD) and Germany (13.1 billion USD).
Internet and Device Usage
Internet penetration in Mexico is currently 58.1%, and should reach 67.2% by 2021. Smartphone penetration is a lot less (39.8%), but is projected to grow to 53.1% in the next four years.
75% of online shoppers in Mexico buy via desktop, a stark contrast to the amount of smartphone (15%) and tablet (6%) shoppers.