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Shoppers in Mexico are becoming more used to dealing with e-Commerce websites says recent research. The total value of the Mexican e-Commerce market is 164bn pesos and the growth in 2013 and 2014 was 35%.
Some 750,000 websites within Latin America can be regarded as having their own e-Commerce function (defined as a financial transaction which is executed within the portal) and this represents just over 2% of all sites in the region. Brazil has the most, with 60% of all Latin American e-Commerce websites, and Mexico is in second place, with 10%.
The research also states that those websites which make full use of full e-Commerce functionality, complete with secure payment platforms, are the ones which grow and continue to trade longer. Also, because they have their own payment processing, customers view them with more confidence.
What’s more, figures from PayPal suggest the growth outlook for e-Commerce websites in Mexico is good, especially with SMEs, the fastest growing area of the sector. SMEs account for over 75% of the e-Commerce market by size of business. The five highest individual product growth areas within the Mexican market are as follows: services, retail, computers and accessories, travel, and clothing and footwear.
In 2014, there were 9.6 million digital buyers who used e-Commerce websites. By 2015, it’s expected to reach 10.9 million. Younger digital shoppers are choosing their smartphones to make online purchases. Nearly 90% of the 18 to 34 year-old age group opted to buy online using their mobiles. By 2017, in Mexico, it’s anticipated that number of smartphone users will top 54 million.
As for the habits of e-Commerce shoppers, nearly half of all online shoppers choose to go digital because of convenience and lower prices.
allpago international is the leading payment provider for the LATAM region. allpago provides the most relevant local payment methods through one API and one single platform. Allpago offers the best conversion rates ensuring state-of-the-art technology and legal advice necessary for a successful e-Commerce operation in Latin America.
allpago enables start-ups to Fortune 500 companies to offer the necessary local payment methods in the Latin American market, which account for around 80% of their revenues. Current clients include Art.com, Getty Images, Intel Security McAfee, Norton Symantec, Paylogic, Sumup, Teamviewer and many other leading payment and digital companies.
Image courtesy of Naypong at FreeDigitalPhotos.net
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