Market Size of Mexico E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 28.95 Billion |
| Market Size (2029) | USD 53.97 Billion |
| CAGR (2024 - 2029) | 13.27 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico Ecommerce Market Analysis
The Mexico E-commerce Market size is estimated at USD 28.95 billion in 2024, and is expected to reach USD 53.97 billion by 2029, growing at a CAGR of 13.27% during the forecast period (2024-2029).
The Latin American e-commerce market has recorded robust growth over the last few years, offering exciting opportunities for online retailers across various sectors. Mexico is one of Latin America's major consumer markets and a critical e-commerce market.
- In Mexico, social media is widely used. The most popular social media platform is Facebook, which WhatsApp and Instagram follow. When making purchases, Mexican shoppers are heavily influenced by social media. By 2025, Conversational Commerce, or C-commerce (sales via Facebook or WhatsApp), is predicted to account for 40% of all e-commerce sales in Mexico.
- The Mexican eCommerce market grew by 18% last year, contributing to a global growth rate of 29%: E-commerce sales are continuing to rise. New markets are forming, and established markets have the potential to grow even more. Over the next few years, the growth will continue. Debit cards and personal credit cards are the most popular payment methods. Further on the other hand, many online businesses provide payment options such as cash purchases at convenience stores.
- In Mexico, the COVID-19 pandemic has accelerated the adoption of e-commerce. The Mexican Online Sales Association estimates that the domestic eCommerce sector was worth USD 19.7 billion last year, an increase of 27% over 2020. There were 57.5 million users of Mexican eCommerce in the previous year, up 11% from the prior year.
- However, many online retailers offer payment alternatives such as cash payments at convenience stores. According to the Mexican Online Sales Association, impediments to increased e-commerce usage include cybersecurity risks, with 80 percent of e-commerce users noting concerns over electronic fraud and 74% lacking confidence in providing banking information online. This could hinder the market growth rate during the forecast period.
