The United Mexican States is a federal republic located in north-central America. Mexico has a population of over 120 million people, making it the most populous Spanish-speaking country in the world. Mexico’s economy is ranked 15th in the world in terms of GDP per capita and dominated by its services industry. In 2015, Mexico reportedly exported goods worth nearly US$264 billion, making it one of the largest exporters in the world.
Mexico’s main exports are oil and gas, cars, machinery and computers, among others. It also has a significant agricultural sector that produces crops such as tomatoes, corn, beans and chili peppers for domestic consumption or for export. As a developing country, there is still a large percentage of the population living below the poverty line. This is evidenced by high levels of malnutrition among children and adults suffering from poor diets, which are attributed to low income levels where up to 50 percent or more of household income is spent on food. . However, this situation has improved in recent years, with the economy growing at over 3% per year due to major investments in infrastructure, energy reform and structural changes.
The Mexican online retail market was worth US$13 billion in 2015 and is expected to grow at an average rate of 7% over the next five years until 2020, reaching a value of US$17 billion. Top-selling items include consumer electronics such as smartphones, computers, tablets, mobile accessories, toys, sports equipment, and home appliances, among other items. Additionally, a growing number of Mexican shoppers are turning to online shopping as a convenient alternative to physical stores or catalogs.
In 2016, Mexico’s e-commerce market is expected to grow from US$12 billion in 2015 to nearly US$18 billion by 2020, at an average annual growth rate of 7% over the next five years. This increase can be attributed largely to the growing use of the Internet among Mexicans as well as efforts by businesses and governments to move towards digitalization processes, creating opportunities for businesses operating in this space. Mexican President Enrique Peña Nieto actively pushed for structural reform where he made significant changes related to telecommunications and energy laws that opened new opportunities for all industries. His plan aims to boost competition, investment and growth in Mexico.
Here is the list of the best-selling products in Mexico online 2024
Table des matières
1. Mobile phones
The mobile phone market in Mexico is currently one of the fastest growing markets and has shown a consistent growth rate. This can be attributed to the newly introduced products which have better features and technological improvements which have created an increase in demand for this product. In 2015, more than 95 million mobile phones were sold and around 22 million people used smartphones. The number of people using these devices will continue to increase as Internet usage spreads across different regions and social classes. Sales are expected to reach nearly 117 million units by the end of 2022, resulting in revenues exceeding US$12 billion.
2. Household appliances
The Mexican economy has experienced rapid growth in recent years, leading to an increase in demand for household appliances. In 2015, approximately 9 million household appliances were sold, generating revenue of US$3 billion. Over the next few years, sales are expected to continue to increase at a steady pace as more homes are built and infrastructure is developed across the country. By 2022, sales will reach nearly 12 million units with revenues exceeding 4 billion US dollars.
3. Mobile accessories
Sales of mobile accessories increased from MXN817 million in 2014 to over MXN1 billion in 2015, recording a growth rate of around 20%. Factors such as the increase in smartphone usage in addition to the wide range of products available have contributed to this growth. In 2016, it is expected that 2 million mobile devices as well as mobile accessories will be purchased by Mexican consumers, resulting in revenues of almost US$1 billion. Revenue is expected to grow at an average rate of 3% over the next five years and reach almost MXN 6 billion by 2022.
4. Toys and games
The toys and games market in Mexico has seen steady growth in recent years, with sales increasing from nearly MXN 1 billion in 2012 to more than MXN 1.5 billion in 2016. It is estimated that sales will increase to a rate of almost 2% per year until 2020, when they will exceed 1.6 million US dollars. The increase in demand for this product can be attributed to factors such as availability of better products due to improvement in technology, exposure through digital media including use of the Internet, and broader appeal through improved designs.
5. Books
In 2015, around 1 million books and just over a million magazines were sold in Mexico. This resulted in a turnover of almost MXN 500 million. Over the next few years, sales are expected to continue to grow at a steady rate as people become more and more literate due to greater access to education and the availability of various other media such as the Internet and digital media for information. The number of book and magazine purchases is expected to increase by a further 20% between 2016 and 2020, resulting in revenues exceeding MXN 610 million.
6. Food products
Mexican consumers have shown increasing demand for groceries in recent years, leading to market growth. In 2015, approximately 2 million units were sold in the market with a turnover of approximately 1 billion US dollars. This number is expected to reach almost 5 million by 2022, resulting in revenues in excess of US$3 billion.
7. Personal care products
It is estimated that over MXN 1 billion worth of personal care products such as shampoos, soaps and other cosmetic items will be consumed by Mexican citizens in 2017. Demand for this product has increased at an average rate of 2% per year since 2012. In five years, this number is expected to increase further and reach around 4 million units, resulting in revenues in excess of US$2 billion.
8. Sporting Goods
In recent years, there has been an increase in demand for sporting and leisure items among Mexican consumers. In 2015, approximately 3 million units were purchased with sales reaching US$1 billion. It is estimated that more than 4 million items will be purchased by 2022, resulting in revenues in excess of US$2 billion.
9. Electronic devices
Electronic devices have remained popular among Mexican consumers in recent years due to the availability of better products at competitive prices. In 2014, nearly 2 million electronic devices were sold worth MXN 1 billion. This number is expected to increase steadily until 2020, when sales will reach almost 7 million, resulting in revenues exceeding MXN10 billion.
10. Furniture
Furniture and lighting remained a key product category in Mexico with a steady increase in demand. In 2015, more than 300 million MXN was generated from sales of approximately 1 million units. This number is expected to increase by a further 20% between 2016 and 2020, reaching almost MXN 360 million.
Conclusion:
All of the above product categories have seen a steady increase in demand and projections indicate that this is expected to continue. This gives players operating in these sectors an opportunity to maximize their profits by following the right strategies and offering innovative products.
