Fashion market in Mexico
The Mexican Fashion eCommerce market is predicted to reach US$8,299.9 million by 2024 and accounts for 21.0% of the total eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 18.0%, resulting in a projected market volume of US$16,070.5 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Monthly revenues
Monthly eCommerce revenues in the Mexican Fashion market
The monthly eCommerce revenue of the Mexican Fashion market was US$730 million in October 2024. This refers to a growth of 24.2% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 11.1% of the total 2023 revenue of the Mexican Fashion market and the lowest in February 2024 with 6.8% of the total 2024 revenue.
Revenue Last Month
US$730.0m
The eCommerce revenue grew by 24.2% from September 2024 to October 2024.
Monthly revenue shares in the last 12 months
| 0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Monthly revenue share (in %) | 73.0 | 75.4 | 1.7 | 61.8 | 56.0 | 84.3 | 69.3 | 36.8 | 34.2 | 99.8 | 51.4 | 58.6 |
Market development
eCommerce revenue development in the Fashion market in Mexico
The Mexican Fashion eCommerce market is predicted to reach US$8,299.9 million by 2024 and accounts for 21.0% of the total eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 18.0%, resulting in a projected market volume of US$16,070.5 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
eCommerce revenue development in the Fashion market in Mexico
eCommerce revenue growth in the Fashion market in Mexico
Net eCommerce revenue split by sub-category
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 9.8 | 92.8 | 61.3 | 47.5 | 64.2 | 19.4 | 24.9 | 74.6 |
Top stores
Top five Fashion online stores in Mexico by net sales 2023
With sales in the Mexican Fashion market, liverpool.com.mx generated a revenue of US$544.0 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Mexico is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.
eCommerce net sales generated in the Fashion market 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 Fashion market
With 92.7% VISA the most commonly offered payment method of all online stores in the Mexican Fashion eCommerce market in 2023. Like VISA Mastercard with a share of 90.9% and American Express with a share of 81.8% the payment type Cards is the most common used by online retailers in in the Mexican Fashion eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 85.5% and Bank transfer/cash in advance (Bank transfer) with 34.5% of stores offering that payment method to the clients.
Top 5 offered payment methods in the Mexican Fashion market
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Shop Software Solutions
Top 5 used shop software solutions in the Mexican Fashion market
Although Shopify holds a commanding lead with 30.8% of online stores using the shop software solution, the Mexican Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including VTEX, Salesforce Commerce Cloud, Magento, and MercadoShops, which collectively hold a significant share of the market.
Top 5 used shop software solutions in the Mexican Fashion market
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Market definition
Definition of the Fashion market
Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Apparel (e.g. jackets, t-shirts, joggers, underwear)
- Footwear (e.g. sneakers, boots, sandals)
- Bags (e.g. handbags, backpacks, suitcases)
- Accessories (e.g. hats, sunglasses, jewelry, watches)
Out-of-scope
- Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
- Eye care (e.g. glasses and sunglasses with prescriptions)
- Beauty care (e.g. make-up, fragrances)
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