Mexico´s e-commerce will contribute 15% of retail sales in 3 years
Source：El Financiero
From：Taiwan Trade Center Mexico
Update Time：2021/01/17
In just three years, e-commerce is expected to double its weight in Mexico, going from contributing 6% of total retail sales to 15% by 2023, according to a projection by the London financial services firm, Barclays.
“This 2020, e-commerce growth accelerated for at least three years, we expected it to contribute 7% of total retail sales in 2024, today we are at 6.3%,”stated Luis Gradilla, consumer Intelligence Market Leader at Nielsen Mexico.
Barclays estimates suggest that the penetration of e-commerce in retail by 2023 will be 15%.
“E-commerce in Mexico had already a solid upward trend before COVID-19, registering one of the highest e-commerce growth rates in the world in recent times,” he said.
He added that the start of the 2020 Christmas shopping season is just a rear-view mirror, but for the rest of 2021, it is anticipated that there will be a post-pandemic recovery, which will offer an opportunity for greater internet penetration and an increase in financial inclusion in Mexico, so the potential of e-commerce will continue to increase.
Until the third quarter of 2020, the winner by penetration is Mercado Libre with 49% share, followed by Amazon with 22%, 12% for Walmart’s online channel, 10% for Coppel’s and 7% for Liverpool’s online site, according to Barclays.
So far in 2020, it is estimated that 50.7% of Mexicans buy online and this indicator will rise to 69.7% by 2023, and 78% by 2025, according to data from the Statista consultancy.
This increase is due to facilities and needs that cover online purchases, as self-service e-commerce rose 30% during the pandemic. In contrast, at the beginning of the health crisis, there was a 60% drop in the time people shopped at physical supermarket stores, going from up to 38 minutes on average to just 15 minutes, according to Todo Retail.
Source：https://www.elfinanciero.com.mx/