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Accelerate your revenue with a new audience of customers throughout Mexico - without friction or complexity.
*The sale of certain products in this market may be subject to international export regulations. If you would like to learn more about selling into this market, lets chat.
Mexico is a country of contrasts: a growing and thriving middle class, but continued violence and lawlessness that stems from the cartels and cross-border drug trade. In terms of Latin America, Mexicans have been early adopters of the internet and ecommerce.
Ecommerce market is projected to reach $18.8 billion by the end of 2020, the 17th largest global ecommerce market. Top performers in Mexico include the large global ecommerce marketplaces and several local and regional ones. Strong opportunity for brands to sell direct as well through marketplaces and large e-retailers. Ecommerce revenue is expected to grow 5.5%, resulting in a projected market volume of $24.6 million by 2025. The market’s largest segment is electronics and media with a projected market volume of $5.9 million in 2020.
Payment preferences are generally reflective of a distrust in national institutions as one sees a strong statistical preference for the Mexican version of the Brazilian Boleto system. Local cards are preferred, with 35% of Mexicans choosing them over other options. Preferred payment service providers include Allpago, BanWire, Mercado Pago, and Conekta. Debit card penetration is still incredibly high, with cash on delivery and digital wallets tied as the second-most used payment method.
In Latin America, even though cash-based payments are hard to beat in ecommerce (with notoriously convenient kiosk cash payments methods such as Boleto Bancário, or OXXO setting the tone these days), central banks actively collaborate with the fintech environment and the government to create a climate of financial inclusion and offer unbanked citizens easy means of paying and purchasing online in faster and safer conditions.
Cross-Border Fulfillment: Landed Cost is Available.
In-Country Fulfillment: Not available