Retail electronic commerce in Mexico had an annual rebound of 23% at the end of 2022with which it reached a market value of 528,000 million pesos, revealed this Thursday a study by the Mexican Association of Online Sales (AMVO).
Pierre-Claude Blaise, president of AMVO, explained that this increase occurred despite expectations of a reduction in the last year due to a complex global outlook and high prices, which placed Mexico in fourth place in the world market for online sales.
In this sense, he stated that AMVO, which represents 75% of retail companies that sell online, maintains optimism for the next three years.
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Although he acknowledged that “the economic situation has an impact,” he pointed out that there are other encouraging factors such as internet access, because they expect 15 million new people to connect to the networkbeing the middle class the one that can give the greatest boost to the digital sales channel.
There are many efforts from all companies to reach the middle class, which is the heart of Mexico, the reality”, he commented.
E-commerce triples profits
With the close of 2022, the market value of retail sales in Mexico through online channels almost tripled the amount of 2019before the covid-19 pandemic, when 184,000 million pesos were obtained.
According to the “Online Sales Study 2023”, During 2022, more than 63 million Mexicans purchased products or services on the Internet.which means that nine out of 10 Internet users over the age of 18 bought online.
This volume is almost double that of 2018, when there were only 37 million digital buyers in Mexico.
By regions, Mexico City concentrates the largest volume of digital purchases with 33%followed by the West-Center with 18%, and the Southeast region with 16%.
Likewise, the study showed that the age segment with the highest number of purchases is located in the range of 25 and 34 years, who made a third of the transactions.
The greatest motivation that encouraged digital purchases was receiving purchases at home (58%), saving time traveling to stores (49%), making purchases from anywhere (42%), availability of products that are not in physical stores ( 41%) and the possibility of finding more promotions and discounts (36%).
Meanwhile, the main categories of online consumption were food (68%), fashion (62%), beauty and personal care (46%), electronics and toys (40%).
While in the preferred services, the following stood out: banking services (78%), subscription services (74%), payment of services (69%), telecommunications (59%) and urban mobility (58%).
The AMVO study also revealed that in 2022 the level of returns was maintained, since 3 out of 10 buyers returned a product, mainly in categories such as fashion and sports.
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