eCommerce market in Mexico
Market development
eCommerce revenue development in Mexico
Mexico is the 16th largest market for eCommerce with a predicted revenue of US$32,584.5 million by 2024, placing it ahead of Poland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 20.7%, resulting in a projected market volume of US$69,045.8 million by 2028. With an expected increase of 26.8% in 2024, the Mexican eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Mexico, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Mexican eCommerce market. Electronics is the largest market and accounts for 23.4% of the Mexican eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 21.0%, Furniture & Homeware with 11.2%, DIY with 8.9%, Care Products with 8.5%, and Grocery with the remaining 6.0%.
eCommerce revenue development in Mexico
eCommerce revenue growth in Mexico
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 38.5 | 20.1 | 62.3 | 62.7 | 38.7 | 55.9 | 57.6 | 34.4 |
Top stores
Top five online stores in Mexico by net sales 2023
The biggest player in the Mexican eCommerce market is amazon.com.mx. The store had a revenue of US$3,544.3 million in 2023. Store rankings include every store that generates revenue in Mexico. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Mexico was considered.
eCommerce net sales generated in Mexico in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Mexican eCommerce market
With 86.5% VISA the most commonly offered payment method of all online stores in the Mexican eCommerce market in 2023. Like VISA Mastercard with a share of 85.9% and American Express with a share of 74.6% the payment type Cards is the most common used by online retailers in in the Mexican eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 79.5% and Bank transfer/cash in advance (Bank transfer) with 51.9% of stores offering that payment method to the clients.
Top 5 offered payment methods in the Mexican eCommerce market
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Shipping Service Provider
Top 5 offered shipping providers in the Mexican eCommerce market
Despite DHL's dominant position with 44.7% of online stores opting for its services, the Mexican eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including FedEx, Estafeta, Own delivery service, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.
Top 5 offered shipping providers in the Mexican eCommerce market
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