eCommerce market in Mexico

Mexico is the 15th largest market for eCommerce with a predicted revenue of US$42,238.8 million by 2024, placing it ahead of Brazil. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 20.7%, resulting in a projected market volume of US$89,527.1 million by 2028. With an expected increase of 26.9% in 2024, the Mexican eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Mexico, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Mexican eCommerce market. Electronics is the largest market and accounts for 23.4% of the Mexican eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 21.0%, Furniture & Homeware with 11.2%, DIY with 8.8%, Care Products with 8.5%, and Grocery with the remaining 6.0%.

Monthly revenues

Monthly revenues in the Mexican eCommerce market

The monthly eCommerce revenue of the Mexican eCommerce market was US$4,361 million in November 2024. This refers to a growth of 16.2% compared to October 2024. Within the last 12 months, the monthly revenue share was the highest in December 2023 with 10.8% of the total 2023 revenue of the Mexican eCommerce market and the lowest in February 2024 with 7.0% of the total 2024 revenue.

Revenue Last Month

US$4,361.4m

The eCommerce revenue grew by 16.2% from October 2024 to November 2024.

11-2024+16.2%

Monthly revenue shares in the last 12 months

in %
0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)14.423.735.687.448.140.877.760.960.984.843.492.5

Market development

eCommerce revenue development in Mexico

Mexico is the 15th largest market for eCommerce with a predicted revenue of US$42,238.8 million by 2024, placing it ahead of Brazil. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 20.7%, resulting in a projected market volume of US$89,527.1 million by 2028. With an expected increase of 26.9% in 2024, the Mexican eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Mexico, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Mexican eCommerce market. Electronics is the largest market and accounts for 23.4% of the Mexican eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 21.0%, Furniture & Homeware with 11.2%, DIY with 8.8%, Care Products with 8.5%, and Grocery with the remaining 6.0%.

eCommerce revenue development in Mexico

in million US$

eCommerce revenue growth in Mexico

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)10.215.084.148.181.267.678.88.7

Online share

eCommerce online share in Mexico

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Mexican retail market, the online share is 10.3% and will increase by an average of 7.0% to 13.4% by 2028.

eCommerce online share in Mexico

in %
20202021202220232024202520262027
Online share (in %)60.6%76.7%5.8%35.8%16.2%84.2%16.4%70.4%

Top stores

Top five online stores in Mexico by net sales 2023

The biggest player in the Mexican eCommerce market is amazon.com.mx. The store had a revenue of US$3,544.3 million in 2023. Store rankings include every store that generates revenue in Mexico. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Mexico was considered.

eCommerce net sales generated in Mexico in 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Payment Methods

Top 5 offered payment methods in the Mexican eCommerce market

With 86.1% VISA the most commonly offered payment method of all online stores in the Mexican eCommerce market in 2023. Like VISA Mastercard with a share of 85.6% and American Express with a share of 73.9% the payment type Cards is the most common used by online retailers in in the Mexican eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 80.0% and Bank transfer/cash in advance (Bank transfer) with 52.8% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Mexican eCommerce market

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Mexican eCommerce market

Despite Estafeta's dominant position with 48.8% of online stores opting for its services, the Mexican eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including FedEx, DHL, Own delivery service, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Mexican eCommerce market

in %

Shop Software Solutions

Top 5 used shop software solutions in the Mexican eCommerce market

Although Shopify holds a commanding lead with 25.4% of online stores using the shop software solution, the Mexican eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including VTEX, Magento, WooCommerce, and Salesforce Commerce Cloud, which collectively hold a significant share of the market.

Top 5 used shop software solutions in the Mexican eCommerce market

in %