Mexico's e-commerce growth rate is the fastest in the world! Where are the opportunities for cross-border e-commerce?

According to the latest data from the Mexican Online Sales Association (AMVO), Mexico is one of the top five countries with the fastest e-commerce growth in the world in 2022. For three consecutive years, Mexico has maintained the top spot in global e-commerce growth, with the country's e-commerce sales increasing by 27% year-on-year in 2021.

Data shows that in 2021, the top five countries with the highest e-commerce sales growth rates in the world include Mexico (27%), India (27%), Brazil (26.8%), Russia (26.1%), and Argentina (26%), all exceeding the global average (16.3%).

So in the Mexican e-commerce market, what are the gold-digging opportunities that are worthy of cross-border sellers’ attention?

Holiday shopping is explosive, and popular categories are announced

During the Mexican e-commerce hot sale " HotSale2022 " from May 23 to 31 this year, e-commerce sales increased by 25% year-on-year to 23.14 billion pesos. Compared with 2019, sales figures doubled (at that time, a total of 11.082 billion pesos), and the categories with the highest purchases were fashion, electronics, and beauty and personal care.

In this event, 52% of people participated, an increase of 42%, and statistics show that this proportion will grow further in the next few years. In Mexico, the number of online shoppers in the 25-44 age group increased from 30% to 32%, and they are the group with the highest willingness to shop online.

Overall, the categories Mexican consumers buy the most include:

Food: 77

Fashion: 64%.

Electronics: 55

Culture: 52

Toys: 51

Beauty and personal care: 49%

The World Cup is a bright spot for Mexico's peak sales season, with 76% of people participating

This year, the World Cup will be held for the first time during the holiday season, a period during which Mexico will hold shopping events such as BuenFin. A MercadoLibre study showed that 70% of Mexicans intend to shop online during BuenFin, which will be held from November 18 to 21 this year.

The World Cup has a huge influence in Mexico. According to information released by the Mexican Association of Online Sales (AMVO), Mexico was the second largest consumer during the last World Cup held in Russia in 2018, with a total spending of more than $1 million. This year's World Cup will be held on November 20.

A survey conducted by MercadoAds in partnership with Ipsos showed that 76% of Mexicans intend to buy some World Cup-related products during this year's BuenFin, with the majority of them buying the official jerseys of the Mexican national team.

In addition, consumers also plan to purchase party and decoration items such as flags (77%), disposable cups, plates and cutlery (71%), horns and whistles (60%), balloons, confetti and posters (53%).

The same study showed that 96% of Mexicans plan to watch the World Cup at home, so demand for home appliances is growing. 43% are likely to buy a new TV with a screen larger than 50 inches, and demand for supporting products such as streaming devices and sound systems will also increase.

Additionally, Mexicans will enjoy food and beverages while watching the game, with 56% of consumers planning to purchase some cooking appliances, particularly grills, microwaves and deep fryers.

Editor✎ Ashley/

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