Mexico

Mexico

General Information

  • Population 128.9m
  • Population 15 + 95.7m
  • Online Population 91.5m
  • Area 1,972,550 km2
  • Currency MXN
  • GDP 1,076.2bn USD
  • GDP per Capita 8,421 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"47"},{"label":"Cash-based payments","value":"8"},{"label":"Bank transfer","value":"10"},{"label":"Wallets","value":"27"},{"label":"Other","value":"8"}]
Banked population
  • Mexico 37%
  • South & Central America 56%
  • World 67%
Credit card penetration
  • Mexico 10%
  • South & Central America 18%
  • World 19%
Internet penetration
  • Mexico 71%
  • South & Central America 70%
  • World 62%
Smartphone penetration
  • Mexico 68%
  • South & Central America 71%
  • World 70%

Mexico’s annual shopping bonanza Hot Sale which lasts up to 11 days in May 2021 showed an increased retail growth rate of 24% for those sellers who are purely online compared to 2020. In total, when adjusted for the shorter selling period this year, 2021 showed an increase of 15%.

In 2020 Amazon made the decision to allow Mexican shoppers to pay online using OXXO. An invoice with a barcode is created which can be paid for at any one of the 19,000 OXXO stores across Mexico.

The Mexican economy is forecast to grow by 5% in 2021 and 3.2% in 2022 helped by a strong recovery by the United States as well as growing manufacturing exports.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 33.5
2022 40.3
2023 47.9
2024 55.1
2025 62.8
E-Commerce spending per capita ($US)
2021 261
2022 311
2023 366
2024 417
2025 470
E-Commerce spending as % of GDP
2021 2.8
2022 3.1
2023 3.5
2024 3.9
2025 4.2

Mexico

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 61% | 27%
  2. Electrical Goods: 9% | 20%
  3. Health & Beauty: 9% | 16%
  4. Toys, DIY, & Hobbies: 8% | 12%
  5. Homeware & Furniture: 5% | 11%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 31%
  2. Value of cross-border e-commerce ($US billion) – 9.6
  3. % of online shoppers who have shopped cross-border – 47%

Top 3 cross-border shopping origin markets

  1. USA: 43%
  2. China: 35%
  3. Japan: 4%
E-commerce % of total retail
  • Mexico 6%
  • South & Central America 4.9%
  • World 20%
E-commerce completed on a mobile device
  • Mexico 53%
  • South & Central America 47%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local schemes
  • Other
[{"label":"Visa","value":"19"},{"label":"Mastercard","value":"12"},{"label":"Local schemes","value":"67"},{"label":"Other","value":"2"}]
  • E-commerce market size ($US billion) 31.3bn USD
  • E-Commerce spending per capita ($US) 246 USD
  • E-commerce spending as % of GDP 2.7%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Mexico

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High OXXO Type Cash Regions South & Central America Market relevance High OXXO Pay Type Cash Regions South & Central America Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mercado Pago Type Wallet Regions South & Central America Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SPEI Type Bank transfer Regions South & Central America Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High todito Cash Type Wallet Regions South & Central America Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Amex LOCAL Type Local payment card Regions South & Central America Azteca Type Bank transfer Regions South & Central America Banorte Type Bank transfer Regions South & Central America BBVA Type Bank transfer Regions Middle East & Africa, North America, South & Central America + 1 BBCA Bancomer Type Bank transfer, Cash Regions South & Central America BBVA Bancomer Type Bank transfer, Cash Regions South & Central America BBVA Wallet Type Wallet Regions North America, South & Central America Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 MasterCard LOCAL Type Local payment card Regions South & Central America Market relevance High NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Santander Domiciliación Type Buy Now, Pay Later Regions South & Central America Santander Mexico Type Bank transfer, Cash Regions South & Central America Visa LOCAL Type Local payment card Regions South & Central America Market relevance High Santander Super Digital App Type Prepaid card Regions South & Central America Market relevance High Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

Search for another region or country