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

in million US$

eCommerce revenue growth in Mexico

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)68.447.546.946.925.40.539.55.6

Online share

eCommerce online share in Mexico

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Mexican retail market, the online share is 10.3% and will increase by an average of 7.0% to 13.4% by 2028.

eCommerce online share in Mexico

in %
20202021202220232024202520262027
Online share (in %)51.8%29.1%85.9%5.6%68.9%96.2%20.5%6.9%

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

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

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

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Mexican eCommerce market

Despite DHL's dominant position with 45.9% 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

in %

See all stores offering