eCommerce market in Mexico
Mexico is the 15th largest market for eCommerce with a predicted revenue of US$42,157.4 million by 2023, placing it ahead of Spain. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 13.7%, resulting in a projected market volume of US$70,436.4 million by 2027. With an expected increase of 21.5% in 2023, the Mexican eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Mexico, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Mexican eCommerce market. Food & Personal Care is the largest market and accounts for 27.1% of the Mexican eCommerce revenue. It is followed by Electronics & Media with 25.4%, Furniture & Appliances with 18.4%, Fashion with 16.2%, and Toys, Hobby & DIY with the remaining 13.0%.
Market development
eCommerce revenue development in Mexico
Mexico is the 15th largest market for eCommerce with a predicted revenue of US$42,157.4 million by 2023, placing it ahead of Spain. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 13.7%, resulting in a projected market volume of US$70,436.4 million by 2027. With an expected increase of 21.5% in 2023, the Mexican eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Mexico, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Mexican eCommerce market. Food & Personal Care is the largest market and accounts for 27.1% of the Mexican eCommerce revenue. It is followed by Electronics & Media with 25.4%, Furniture & Appliances with 18.4%, Fashion with 16.2%, and Toys, Hobby & DIY with the remaining 13.0%.
eCommerce revenue development in Mexico
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 69.5 | 40.3 | 50.8 | 46.8 | 44.6 | 13.1 | 41.7 | 85.5 |
| AOV (in US$) | 94.7 | 38.6 | 25.4 | 51.7 | 85.3 | 46.9 | 51.5 | 66.1 |
| CVR (in %) | 69.5 | 40.3 | 50.8 | 46.8 | 44.6 | 13.1 | 41.7 | 85.5 |
Top stores
Top five online stores in Mexico by net sales 2021
The biggest player in the Mexican eCommerce market is amazon.com.mx. The store had a revenue of US$2,588.7 million in 2021. amazon.com.mx is followed by walmart.com.mx and coppel.com as the second- and third-largest stores with US$901.7 million and US$816.6 million, respectively. Altogether, the top three stores account for 36.4% of the top 100 online stores' revenue in Mexico. Store rankings include every store that generates revenue in Mexico. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Mexico was considered.
eCommerce net sales generated in Mexico in 2021
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ecommerceDB analysis
| no-access-0 | no-access-1 | no-access-2 | no-access-3 | no-access-4 | |
|---|---|---|---|---|---|
| Filtered revenue (in mUS$) | 900.0 | 550.0 | 470.0 | 430.0 | 370.0 |
| Share of global revenue (in %) | 20.7 | 12.0 | 3.9 | 20.6 | 20.7 |
| Global revenue (in mUS$) | 8,300.0 | 4,600.0 | 1,190.0 | 2,122.0 | 1,814.0 |
| Growth global revenue (in %) | 8.3 | 12.4 | 33.6 | 18.0 | 12.6 |
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