Fashion market in Mexico

The Mexican Fashion eCommerce market is predicted to reach US$8,859.6 million by 2024 and accounts for 21.0% of the total eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 18.7%, resulting in a projected market volume of US$17,587.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Monthly revenues

Monthly eCommerce revenues in the Mexican Fashion market

The monthly eCommerce revenue of the Mexican Fashion market was US$950 million in November 2024. This refers to a growth of 21.9% 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 Fashion market and the lowest in February 2024 with 6.8% of the total 2024 revenue.

Revenue Last Month

US$950.0m

The eCommerce revenue grew by 21.9% from October 2024 to November 2024.

11-2024+21.9%

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 %)35.018.849.625.545.712.39.760.434.234.692.493.0

Market development

eCommerce revenue development in the Fashion market in Mexico

The Mexican Fashion eCommerce market is predicted to reach US$8,859.6 million by 2024 and accounts for 21.0% of the total eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 18.7%, resulting in a projected market volume of US$17,587.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

eCommerce revenue development in the Fashion market in Mexico

in million US$

eCommerce revenue growth in the Fashion market 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 %)96.85.759.227.850.55.799.984.5

Online share

eCommerce online share of the total Fashion market 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 Fashion retail market, the online share is 14.2% and will increase by an average of 6.8% to 18.4% by 2028.

eCommerce online share of the total Fashion market in Mexico

in %
20202021202220232024202520262027
Online share (in %)68.9%10.5%2.5%60.1%26.8%27.1%20.2%67.6%

Top stores

Top five Fashion online stores in Mexico by net sales 2023

With sales in the Mexican Fashion market, liverpool.com.mx generated a revenue of US$544.0 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Mexico is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Fashion market 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 Fashion market

With 92.7% VISA the most commonly offered payment method of all online stores in the Mexican Fashion eCommerce market in 2023. Like VISA Mastercard with a share of 90.9% and American Express with a share of 81.8% the payment type Cards is the most common used by online retailers in in the Mexican Fashion eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 85.5% and Bank transfer/cash in advance (Bank transfer) with 34.5% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Mexican Fashion market

in %

See all stores offering


Shop Software Solutions

Top 5 used shop software solutions in the Mexican Fashion market

Although Shopify holds a commanding lead with 30.8% of online stores using the shop software solution, the Mexican Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including VTEX, Salesforce Commerce Cloud, Magento, and MercadoShops, which collectively hold a significant share of the market.

Top 5 used shop software solutions in the Mexican Fashion market

in %

Market definition

Definition of the Fashion market

Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Apparel (e.g. jackets, t-shirts, joggers, underwear)
  • Footwear (e.g. sneakers, boots, sandals)
  • Bags (e.g. handbags, backpacks, suitcases)
  • Accessories (e.g. hats, sunglasses, jewelry, watches)

Out-of-scope

  • Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
  • Eye care (e.g. glasses and sunglasses with prescriptions)
  • Beauty care (e.g. make-up, fragrances)