Industry trends – “Mexico” e-commerce “blue ocean” mode

The epidemic has dramatically changed the way Mexican people go shopping. Even they don’t like online shopping, however, while the stores are closed, Mexicans start to try and enjoy online shopping and home delivery.

Before the big lockdown due to COVID-19, Mexico’s e-commerce had been on a solid upward trend, with one of the highest growth rates of e-commerce in the world. According to Statista, in 2020 nearly 50% of Mexicans shopped online, and amid the epidemic, the number of Mexicans shopping online has exploded and is expected to rise to 78% by 2025.

Cross-border shopping is an important part of the Mexican e-commerce market, with about 68 percent of Mexican e-consumers shopping on international sites, up to 25% of the total sales. According to a study by McKinsey Consultancy, 35 percent of consumers expect the epidemic to improve until at least the second half of 2021, and they will continue to shop online until the epidemic is over. Others believe that even after the outbreak, they will still choose to shop online because it has become a part of their lives. It is reported that home furnishings have become the focus of Mexican online shopping, with nearly 60 percent of consumers buying home furnishings, such as mattresses, sofas and kitchenware. In the face of the epidemic continues to spread, household trends will continue.

In addition, the popularity of social media has also brought opportunities for e-commerce development in Mexico, as more and more shoppers click through to shopping websites through social media platforms. Mexican citizens spend nearly four hours a day on social media, with Facebook, Pinterest, Twitter and others the most popular in the country.

The main challenges for e-commerce in Mexico are payment and logistics, as only 47 percent of Mexicans have bank accounts and Mexicans are very concerned about account security. In terms of logistics, although the current logistics companies have a mature distribution system, but Mexico’s terrain is relatively special, in order to achieve the “last kilometer” distribution, a large number of stations need to be set up.

But the problems that have hampered e-commerce in Mexico are being addressed, and the country’s vast pool of potential e-commerce users is making sellers eager to try. It can be predicted that with the emergence of more “new blue oceans”, the world’s e-commerce territory will continue to expand.

Post time: May-26-2021