It’s not a secret that 2020 was a difficult year, and that the economy suffered a great recession, but like many cases in history this difficult situation brought the beginning of a new era. Especially in the case of ecommerce in Mexico, this unfortunate situation that is happening around the globe due to the corona virus brought the push that was much needed to thousands of start-ups, companies and businesses, that were mainly offline to bring their business to the online world.
How did the country adapt to e-commerce?
In the beginning, many businesses were shaken by the instability of the situation and the new normal that required minimal personal contact, this especially affected those businesses that handled everything entirely in person, and that still did not have an online business model. They were left in a position with only two choices: stay the same and slowly lose clientele and probably even close, or get onboard with the necessities of the customers, which meant turning to e-commerce and joining the technological world.
Consumers were not all that adapted to the e-commerce either before the pandemic, but due to the restrictions the electronic commerce was the best alternative for people that wanted to keep their shopping style at the same level without leaving their homes, or for those that had the necessity of getting day to day items without risking going out. Amazon, and Mercado libre, as well as online stores, and delivery food apps saw a considerably high increase in its users. After almost a year of adapting, consumers and companies are trusting e-commerce more and more. A proof to these is that 5 in every 10 companies in Mexico are duplicating their growth by being online.
It took changes not only in the way the business were being made but also in how it reaches their customers, social media strategies, and digital marketing are booming and bringing an enormous number of buyers every day, the companies no longer need to look outside for the consumers, they only need to reach the right ones and they will come to them, or they can use platforms like Amazon, or Mercado libre to sell their products.
How much did e-commerce in Mexico grow in 2020?
Although in 2020 the economy in Mexico took a hit from the pandemic, and the restrictions that came along with it, the one winner of the year was e-commerce. According to a German market and consumer data company Statista online sales were projected to outreach $18.8 billion USD, which is almost 32% higher than the sales reached by e-commerce in Mexico in 2019 which were a total of $14.26 billion USD.
This year Statista projected that the online sales will reach $21.2 billion USD which would represent a total of 12.8% increment over the 2020 forecast. It is said that by 2025 the e-commerce market will have 77.9 billion Mexicans shopping online and a total of $24.6 billion USD could be reached.
All the changes that have pushed the growth of e-commerce are here to stay, it’s not just a passing effect, as the number of new buyers continues to grow, while users accustomed to online purchases continue to diversify their behaviour, and new and sophisticated online sales channels continue to emerge. If you are interested in bringing your business, or creating one in Mexico to take advantage at an early stage of this situation, do not hesitate to contact us, we can advise you on all the requirements and process, including the new requirements for selling on digital platforms in Mexico.