Wide Range of Payment Methods, Major Use of social media with quality internet infrastructure and High Levels of Cross-Border Spending is Key to Success in Mexico's E-Commerce Market: Ken Research

Driven by the rising internet infrastructure, wide range of payment methods available, flexibility in cross-border shopping and receptive consumers to contribute in the ample growth of ecommerce market potential in the coming years.

The market size and growth of Ecommerce in Mexico: Enjoying a rapid annual growth rate of ~ %, the Mexican business to consumer e-commerce market is worth $~ Bn. That said, e-commerce has a long way to go before it unseats bricks-and-mortar sales as the dominant commerce channel in the country. Online shopping accounts for just ~ % of the country's overall retail market. Consumer electronics and travel are the most popular online shopping categories. Private investment is being complemented by the efforts of the Mexican government. Internet penetration has risen by ~% after reforms to telecommunications regulation made domestic internet packages cheaper and more readily available.

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Straightforward customs procedure is key to Mexico's e-commerce growth: Cross-border shopping is a significant part of the Mexican e-commerce market, taking a quarter of total sales. Some ~% of Mexican e-consumers have shopped from an international site, suggesting international merchants hoping to break in to this market have a good chance of finding receptive customers. Mexico has a streamlined imports and customs clearing procedure which may also account for the popularity of cross-border shopping.

Mexico's e-commerce payment options: Card is the dominant payment method in Mexico worth $~ billion in sales. Debit card penetration is high compared to credit cards. Cash and digital wallets tie as the second-most used payment method, each taking ~% share of the overall e-commerce payments market. The high use of cash, which is often used to settle payment on delivery, can be attributed to Mexico's large unbanked population.

Analysts at Ken Research in their latest publication "Mexico E-commerce Market Outlook to 2027F- By Type of Product (Electronics, Fashion, Furniture, Food, Health and personal care, Toys and Others), By Geography (Domestic, Cross-border), By Payment Method (Card, Cash, Bank Transfer, Digital wallet and Others), By Sales Channel (Online, Offline) and By Age Group (18-24, 25-34, 35-44, 45-54 years)." observed the potential of the Ecommerce market in Mexico. A large number of ecommerce companies are operating in the Mexico Ecommerce Market. These companies compete on various parameters such as pricing of the product offered, payment method, product delivery time, presence on social media platforms, cross border sales etc. The Mexico Ecommerce Market is expected to grow at CAGR of ~% over the forecasted period i.e., 2022-2027F.

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Key Segments Covered in the report: -
Mexico E-commerce Market
By Type of Product:
• Electronics
• Fashion
• Furniture
• Food
• Health and personal care
• Toys

By Geography:
• Domestic
• Cross-border

By Payment Method:
• Card
• Cash
• Bank Transfer
• Digital wallet
• Others

By Sales Channel:
• Online
• Offline

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By Age Group:
• 18-24 Years
• 25-34 Years
• 35-44 Years
• 45-54 Years
• 55+ Years

Key Target Audience
• E-Commerce Companies aiming to establish in Mexico
• Mexico's E-Commerce logistics industries
• E-commerce startups
• Ecommerce Vendors
• Logistics industry
• Shipping companies
• Warehousing Companies
• E-Commerce end users
• Investors
• Industry Associations
• Consulting Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report:
• Historical Year: 2017-2022P
• Base Year: 2022P
• Forecast Period: 2022P- 2027F

Companies Covered:
• Amazon Mexico
• Walmart Mexico
• Liverpool
• Coppel
• Shein Mexico
• Home Depot Mexico
• Apple
• Sam's Club
• Elektra
• Grainger Mexico
• Costco Mexico
• Sears Mexico
• El Palacio de Hierro
• Bodega Aurrera
• Nike
• Privalia
• Adidas Mexico
• Suburbia
• Sanborns

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Key Topics Covered in the Report
• Overview of E-Commerce Market in Mexico
• Internet Penetration Rate and Number of Media Users in Mexico
• Ecosystem of Major Entities in Mexico E-Commerce Market
• Market Size of Mexico E-Commerce Market
• Average Ticket Size of E-Commerce
• Mexico E-Commerce Market Segmentation
• Trends and Developments in Mexico E-Commerce Market
• Issues and Challenges in Mexico E-Commerce Market
• Porter 5 Forces Analysis of Mexico E-Commerce Market
• Government Regulations in Mexico E-Commerce Market
• Impact of COVID-19 on Mexico E-Commerce Market
• Cross Comparison of Major E-Commerce Players
• Strengths and Weaknesses of Major E-Commerce Players
• Company Profiles of Major E-Commerce Players
• Future Market Size of Mexico E-Commerce Market
• Mexico E-Commerce Market Future Segmentation
• Analyst Recommendations
• Industry Speaks
• Research Methodology

Related Reports by Ken Research: -
https://www.kenresearch.com/technology-and-telecom/it-and-ites/india-social-e-commerce-market-outlook-to-2027/574448-105.html

https://www.kenresearch.com/technology-and-telecom/it-and-ites/taiwan-e-commerce-market-outlook/321673-105.html

SECTOR 49 GURGAON

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.