Miércoles, 24 de Abr, 2024
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E-commerce in Mexico on the Rise

By Goodrich, Riquelme y Asociados

The 2024 Study on Online Sales in Mexico, published by the Asociación Mexicana de Venta Online (AMVO), reveals that e-commerce in Mexico continues to grow at a rapid pace.

Key findings of the study:

Market value: The value of the e-commerce market in Mexico reached USD 31 billion in 2023, a growth of 27% compared to the previous year.

Growth: Mexico continues to be the leader in e-commerce growth worldwide.

Penetration: 66 million people in Mexico have made at least one online purchase, representing 18% growth compared to 2022.

Reasons to buy online: The main reasons for buying online are to find products that are not available in physical stores (44%), find better prices (42%), save time (38%), and avoid crowds (36%).

Most popular products: The most popular product category to buy online is Fashion (42%), followed by Electronics (37%) and Home Goods (34%).

Payment methods: The most used payment method for online purchases in Mexico is the debit card (88%).

Security: 72% of Mexican consumers feel safe buying online.

The study also highlights some challenges for the e-commerce industry in Mexico, such as:

-Fraud: Fraud is still a concern for some consumers.
-Logistics: Last-mile delivery is a challenge for some e-commerce companies.
-Competition: The e-commerce market in Mexico is becoming increasingly competitive.

Despite these challenges, the future of e-commerce in Mexico looks bright. The AMVO study predicts that the market will continue to grow in the coming years, reaching USD 50 billion by 2025. This growth will be driven by a number of factors, including:

Increasing internet penetration: The internet penetration rate in Mexico is expected to continue to grow in the coming years.

Growing middle class: The Mexican middle class is growing, and this is leading to increased demand for e-commerce products and services.

Government support: The Mexican government is supportive of the e-commerce industry and is working to create a more favorable regulatory environment.

Goodrich, Riquelme y Asociados

Goodrich has a long tradition of standing alongside its clients when helping them make their business objectives a reality. By means of a cross-practice among service areas and industry teams, our carefully trained lawyers achieve an innovative approach towards the rendering of contemporary legal services tailored to the demanding business community worldwide.

We ensure that our clients are competently represented wherever their businesses take them. This is why, in addition to our network of correspondents in Mexico and our own office in Paris (since 1971), Goodrich actively participates as founder firm of the Bomchil Group, an association of independent law firms with offices in practically every Latin American country. Today, Goodrich has a professional and administrative staff of over 250. In our firm we are constantly striving to renew ourselves and in being prepared to face the ever-changing legal challenges that lie ahead. We are a firm of young lawyers with the highest professional and ethical standards.

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