In recent years, the Mexican e-commerce market has ushered in rapid development.
According to the latest research data from EBANX, a Latin American cross-border e-commerce payment platform, e-commerce sales in Mexico are expected to grow by 32% in 2022, and the overall market size will reach $50 billion.
With the increasing number of Internet users in Mexico, the e-commerce market has shown a booming trend, and female buyers have become the main driver of the development of the Mexican e-commerce market.
According to Statista’s research data, women account for 53% of buyers in mexico’s online market in 2021.
In addition to shopping sites, social media is also the main channel for mexican women to shop online. The data shows that there are also many female users of social media in Mexico, with 56% of women accounting for 56%.
Mexican female buyers often search online for information about health products, clothing, parenting and family education before shopping online, while also paying great attention to the security of e-commerce platforms.
Judging by the demand for online shopping, Mexican women often buy electronics that help with their daily work, while also buying health products for themselves and their families.
On Amazon and the Mercado Libre platform, the categories that women buyers buy the most are clothing, shoes, accessories, and beauty products.
In the current market environment, the competition in mature cross-border e-commerce markets such as Europe and the United States is becoming increasingly fierce, and many sellers have begun to turn their attention to the emerging blue ocean market in Latin America.
As the second most populous country in Latin America, Mexico has developed particularly rapidly in recent years.
According to statistics, Mexico’s total e-commerce revenue in 2021 has reached 23 billion US dollars. It is expected to grow at a COMPOUND annual growth rate of 6.5% over the next two years, and the Mexican e-commerce market is expected to reach $27.4 billion by 2024.
According to the survey data of Ecommerce DB, the three platforms with the highest revenue in the Mexican e-commerce market in 2021 are Amazon, Walmart and Shein, of which Amazon has an annual revenue of $1.7 billion, Walmart has an annual revenue of $1.1 billion, and Shein has an annual revenue of $918 million.
The pandemic has changed the consumption habits of Mexican consumers in the past, allowing more and more consumers to switch from offline to online. And consumers in Mexico spend more time online than in other countries with more developed e-commerce markets.
It is worth mentioning that more than 50% of online shopping users in Mexico are young people aged 15-34, and the acceptance of cross-border goods is very high.
Therefore, for cross-border sellers, they can grasp the blue ocean market of Mexico, do a good job in product layout, and seize the current market opportunities.