Jan
Strategic Insights into Mexico’s E-Commerce Market
Latest update: January 2025
In this article, PCMI shares an overview of the Mexican e-commerce market, with the latest insights from our Latin America E-commerce Data Library, along with curated info from external sources.
For a visual summary, you can download the infographic PDF below. Also, you can check out our other country reports of LatAm by accessing our gallery.
Unlock Key Insights
Current State of E-commerce in Mexico
With a 2024 volume of US$97 billion, Mexico is clearly the second-largest e-commerce market in Latin America (Brazil is #1), according to PCMI proprietary data. E-commerce has seamlessly been integrated into daily life in Mexico, reaching a 74% penetration among adults.
However, there is a modest 49% penetration of bank accounts in Mexico among the adult population (aged 15 and older),1 but this only highlights a huge potential for the coming years. In fact, we forecast that e-commerce in Mexico will grow at a compound annual growth rate (CAGR) of 24% from 2024 to 2027, reaching a volume of US$184 billion by the end of that period.
Profiling the Mexican Online Buyer
While the overall landscape is important, understanding the dynamics of the Mexican online consumer is equally essential. According to data from the Asociación Mexicana de Venta Online (AMVO):2
85% of Mexican consumers purchase products by combining physical and digital channels
4 out of 10 make online purchases once a week
Nearly 8 out of 10 Mexican online shoppers have purchased products from international websites
The typical age range of the Mexican online shopper is 25 to 34 years old
Mexico E-Commerce Payment Methods and Devices
According to PCMI’s E-commerce Data Library, the primary payment methods for e-commerce in Mexico, by share of volume, are:
- Debit card — 38%
- Internationally enabled credit card — 29%
- Digital wallet — 10%
- Others* — 7%
- Cash payments — 6%
- Bank transfers — 6%
- Domestic-only credit cards — 2%
- Buy Now Pay Later — 2%
*Includes gift cards, pay-on-delivery, and other miscellaneous payment methods.
The total may not sum up to 100% due to rounding.
It is also important to track the device usage for e-commerce shopping:
- 78% of the e-commerce volume in Mexico in 2024 came from purchases made using mobile devices
- The remaining 22% came from online purchases in Mexico made using computers
Unlock Key Insights
Top-Selling Categories in Mexico and Top Online Stores
This is the ranking of the best-selling products online in Mexico, based on sales growth during Q3 2024 compared to Q3 2023 (AMVO, 2024):3
- Home care — 64%
- Photography — 56%
- Garden — 48%
- DIY — 41%
- Fragrances and cosmetics — 38%
Regarding the leading e-commerce stores in Mexico, based on their web traffic in November 2024 (Semrush, 2024), we have:4
- Amazon — 167 million
- Mercado Libre — 116 million
- Walmart — 55 million
- AliExpress — 47 million
- Liverpool — 47 million
Key Insights into the Mexican E-commerce Market
Lastly, there are some key insights about e-commerce and payments in Mexico, according to PCMI data:
Retail is the most important vertical in Mexico: it captures 75% of online sales
Travel is the second most important vertical: it captures 11% of sales
Domestic stores account for 79% of total e-commerce sales in Mexico
The cross-border market projects a 41% growth in 2025
Next Step:
The PCMI E-Commerce Data Library
The data provided in this report is part of PCMI’s Latin America E-commerce Data Library. The Library covers not only Mexico but also 14 other countries in Latin America, featuring e-commerce market data such as:
- Historical volume of Mexico’s e-commerce market for 2023, 2022 and further back
- Projections of Mexico’s e-commerce market volume for 2024-2027
- Breakdowns by merchant vertical for e-commerce in Mexico: retail, travel, ride-hailing, digital goods and services like streaming
- Data on both cross-border and domestic e-commerce purchases in Mexico for 2023 and projections for 2024 and beyond
- Breakdowns and projections of payment methods used in Mexico e-commerce (international/domestic credit cards, Buy Now Pay Later, digital wallets, Pix and others
But other key advantages make the PCMI E-commerce Data Library for Latin America a uniquely powerful tool for companies that seek a fuller understanding of e-commerce in the region:
- It’s customizable to client needs: you can obtain additional data you need for your company’s specific business concerns, beyond what the Library offers
- It’s budget-friendly: while detailed reports are available for 15 Latin American countries, you can just buy data on just 1 or save money by purchasing a country bundle
- It includes personalized guidance: every purchase of the Library entitles you to a free 1-hour consultation about the data with one of PCMI’s industry experts
- It offers unlimited sharing: there is no single-user license with the PCMI E-commerce Data Library for Latin America, so you can share it freely with your organization
Keep up to date with our e-commerce, payments and crypto insights:
Sources:
- Banco Mundial. (September 2024). Impulsar la inclusión financiera y potenciar la innovación y la competencia en el sector financiero a través de los servicios financieros digitales ↩︎
- AMVO. (February 2024). Estudio de Venta Online 2024 ↩︎
- AMVO. (2024). AMVO Ecomm Monitor by Nielsen IQ 3Q 2024 ↩︎
- Semrush. (2024). Top Retail Websites in Mexico, November 2024 [dataset] ↩︎
