eCommerce is rapidly growing worldwide. One study shows that it currently accounts for 12% of global retail sales, and by 2021, this figure will increase to 17.5%.
With Mexico being the US' second-largest export market, and with over 100 million potential customers, there's definitely opportunity for online sellers who are interested in tapping into the Mexican eCommerce market.
The growth of online shopping in Mexico
There's been a considerable increase in revenue in online shopping – so far in 2018, Mexico's online market has brought in approximately $10,270 million. This number is projected to rise to $16,857 million by 2022, an increase of 13.2%.
User penetration stands at 45.9% and by 2022, this is expected to increase to 51%. eCommerce adoption remains relatively new, with online shopping accounting for a mere 2% of Mexico’s approximately $203 billion annual retail sales.
Presently, there are approximately 37.9 million online purchasers in Mexico, with this number projected to reach over 55 million by 2020.
What Mexicans Like to Buy Online
Demographics-wise, these online shoppers are mostly millennials between the ages of 22 and 34, and make up approximately 39% of all online shoppers. Many are tertiary-educated and very passionate about cross-border purchases, largely preferring US products. At the moment, these shoppers skew slightly male (approximately 54%) and are employed full-time.
The following retail categories are popular in eCommerce:
- Computer equipment
Online Purchasing Preferences in Mexico
They also appreciate flexible payment options and mobile-friendly websites, as buying via mobile is popular.
Also consider offering flash deals, discounts, and special holiday deals to increase sales.
The Best Times to Sell Online in Mexico
Online sales peak during the full-weekend promo “El Buen Fin,” similar to Black Friday in the US. This usually falls within mid-November.
There's also the “HotSale” period. During this time, significant discounts are offered to customers over a 3 to 4 day timeline. This usually takes place from late May through early June. Add in Mother’s Day, Father’s Day, Christmas, Julio Regalado, and Cyber Monday holidays and you are good to go!
Important Restrictions to Note
As with all international shipping, there will always be prohibitions and restrictions for each country, and Mexico is no exception. Before you start shipping to Mexico, here is a short list of items that are prohibited or restricted:
- Electronic cigarettes
- Alcoholic beverages
- Precious metals
*As chocolate is native to Mexico, naturally they are very protective of this industry. If you're offering pure chocolates or products containing chocolates, you will need to obtain authorization through the Mexican Secretary of Commerce to sell it legally.
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