With a population of 126 million, Mexico is the most populous Spanish-speaking country in the world. The Mexican e-commerce market has, in terms of growth, undergone a fantastic development during the recent years. As much as 40 percent of consumers shop online once a week. In 2017, the total revenue of the e-commerce market was USD 10 billion. In 2022, it reached USD 38 billion. The forecast for 2025 is an impressive USD 72 billion. One of the main explanations for this development is the rapidly growing number of active internet users. In 2019, the internet usage rate was 59 percent, in 2022 it reached 75 percent, and for 2028 it is forecasted to reach 91 percent.
Another potential growth factor for Mexican e-commerce is the age distribution among consumers. 75 percent of the online shoppers are between the ages of 15 and 44. It’s an international trend that also older people have started to shop more online. This phenomenon is partly an effect of the Covid pandemic. If Mexico follows this trend, it will have a big impact on how fast e-commerce will continue to grow.
Mercado Libre, founded in Argentina in 1999, is the most popular e-commerce site in number of visitors in Latin America. It has a very strong position in Mexico, but so does Amazon. The US e-commerce giant launched in Mexico in 2015 and has since continued to show year-on-year growth. Most Mexican online consumers shop from both Mercado Libre and Amazon, but the purchase frequency seems to be higher at Amazon. The company has also managed to build strong loyalty among their customers through Amazon Prime. According to a study by International Post Corporation, more than 70 percent of Mexican online consumers are Prime members.
Olof Källgren, Market Information Manager, Direct Link