Insights into the growth of Mexico’s ecommerce profiling payment methods, target audiences, shopping events, social media, and the economy
Mexico is home to 130 million people with a total GDP of US$1.04 trillion and is ranked as the 12th richest country, according to the World Bank GDP per capita rankings. Mexico’s GDP per capita is currently US$8,402 and expected to reach US$9,651 by 2025.
Check out other exciting Latin American markets like Argentina and Brazil.
Digital User Insights
There are currently 57.5 million ecommerce users in Mexico, with an additional 20.4 million users expected to be shopping online by 2025.
Total Mexican ecommerce revenue across all product categories is US$21 billion and is expected to grow to US$24 billion by 2025. Electronics and Media is currently the leading product category in Mexico, worth US$6.4 billion then Fashion at US$5.2 billion.
By 2025, Electronics and Media will still be the most purchased online category, with a value of US$7.1 billion, and Fashion will have an expected worth of US$6.4 billion.
In 2018, Mexico was ranked 51st in the World Bank Logistics ranking.
Preferred Online Payments
Cards are the most popular payment method in Mexico currently,although declining in popularity as other payment methods become available. In 2021, cards were the preferred payment option by around 61%, but that’s estimated to reduce to 47% by 2025. E-wallets and bank transfers are becoming more popular payment methods.
What are the big shopping events in Mexico?
The main event is still Christmas, however, El Buen Fin takes slight precedence over Black Friday.
Internet and Device Usage
Internet penetration in Mexico is currently at 65% and expected to reach 70% by 2025. Smartphone penetration is at 64% and expected to increase to 70% by 2025.
Mexico currently has a social media network penetration of 64%. Facebook leads the way, almost tripling the popularity of Instagram.