Market Size of Mexico Retail Sector
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 94.40 Billion |
| Market Size (2029) | USD 122.70 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Retail Market Analysis
The Mexico Retail Market size is estimated at USD 94.40 billion in 2024, and is expected to reach USD 122.70 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
In Mexico, consumers have a massive desire for modern retail stores rather than traditional ones because of the growing economic trend and rising socio-demographic shifts, which boosted the growth of retail stores. Since digital platforms play an essential role, companies focus on enhancing websites to improve customer experience. Social media platforms also contribute to the growth of the market.
- Consumer spending in Mexico is increasing due to rising disposable income and retail growth. Due to the presence of small independent retailers in Mexico, the retail industry is spread all over the country.
- Developed economies in Mexico have well-established retail sectors while developing economies are experiencing rapid growth. Fashion, apparel, and electronics are vital sectors experiencing growth in Mexico.
- With the growing penetration of smartphones and the availability of internet services, e-commerce is a growing sector in Mexico. Hence, suppliers adapt to consumers' buying behavior by improving online sales. Due to the increased government policies and FDI regulations, there is increased competition among retailers in Mexico. The tourism sector also contributes to the retail market's growth, particularly in the luxury hotel sector, which relies on international air connectivity and transport infrastructure.
