Online GMV reaches $18.8 billion, Mexican e-commerce is booming

In 2020, although Mexico's economy was hit hard by the COVID-19 pandemic and related restrictions, its e-commerce has seen great development. Relevant data show that in 2020, Mexico's online sales reached US$18.8 billion, a figure that is nearly 32% higher than the US$14.26 billion in 2019.

Mexico's e-commerce GMV is expected to reach US$24.6 billion in 2025

According to Statista, in 2020, nearly 50.7 million Mexicans made online purchases, which is an increase of 8.8% compared to 2019. The market penetration rate in Mexico is expected to increase from 36.5% last year to 39.3%.

In fact, nine out of ten people who shop online for the first time shop online again soon after, which has led to rapid growth in Mexican e-commerce in the short term . Statista predicts that by 2025, Mexican e-commerce revenue will reach $24.6 billion and 77.9 million Mexicans will shop online.

Among the items purchased by the public, fashion items purchased online will have the highest spending, expected to reach US$4.52 billion ; spending on toys , hobbies and DIY products is expected to be US$3.44 billion ; spending on furniture and home appliances is expected to be US $3 billion ; and more than US$1.93 billion is expected to be spent on online food and personal care.

Security issues and logistical challenges constrain e-commerce growth

Even after the pandemic ends and people are no longer under health threats, online sales will continue to grow because consumers have noticed the convenience of online shopping, said the enterprise sales manager of Magento Commerce , an e-commerce website creation platform .

The COVID-19 pandemic has accelerated the growth of e-commerce in Mexico, with data showing that online sales of many Mexican companies have increased by 300% to 400%. However, despite the growth of e-commerce in Mexico in 2020 , relevant people said that security issues and logistical challenges are important factors restricting the development of e-commerce .

Indeed, data from a survey by the Mexican Online Sales Association showed that 48 % of people believe that online shopping is unsafe. In fact, if the Mexican e-commerce market is to usher in a major development, these constraints must be resolved, otherwise they will to some extent restrict the development of Mexican e-commerce.

Mexico

GMV

E-commerce