The United States of Mexico 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 as the 15th largest in the world based on GDP per capita and dominated by its service industry. In 2015, it was reported that Mexico 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, machine equipment and computers, among other items. It also has a considerable agricultural sector that produces crops such as tomatoes, corn, beans and peppers for domestic consumption or export. As a developing nation, there is still a large percentage of the population that lives 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% or more of household income is spent on food. However, this situation has been improving in recent years, with the economy growing at rates above 3% per year due to large investments in infrastructure, energy reform and structural changes.
Mexico’s online retail market was worth US$13 billion in 2015 and is estimated 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, computer tablets, mobile accessories, toy sports equipment and household 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 in 2020, at an average annual growth rate of 7% over the next five years. This increase can be attributed, in large part, to the increased use of the internet among Mexicans, as well as efforts by companies and the government to digitize processes, thus creating opportunities for companies operating within this space. Mexican President Enrique Peña Nieto has been actively pushing for structural reforms, where he has made significant changes related to telecommunications and energy statutes that have opened up new opportunities for all industries. His plan focuses on increasing competition, investment and growth in Mexico.
Here is the list of the best-selling products in Mexico online 2024
Table of Contents
1. Cell Phones
The mobile phone market in Mexico is currently one of the fastest growing markets and has shown a steady growth rate. This can be attributed to newly introduced products that have better features and improvements in technology, which has created an increase in demand for this product. In 2015, more than 95 million cell phones were sold with around 22 million people using smartphones. The number of people using these devices will continue to grow as internet use 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 $12 billion.
2. Household appliances
Mexico’s economy has been growing at a rapid pace in recent years, which has led to an increase in demand for household appliances. In 2015, around 9 million household appliances were sold, resulting in revenue of US$3 billion. In the coming years, sales are expected to continue increasing at a steady pace as more homes are built and infrastructure is developed across the country. By 2022, sales will reach almost 12 million units, with revenue exceeding US$4 billion.
3. Mobile accessories
Sales of mobile accessories increased from MXN 817 million in 2014 to more than MXN 1 billion in 2015, recording a growth rate of around 20%. Factors such as the increased use of smartphones, in addition to the wide range of products available, contributed to this growth. In 2016, 2 million mobile devices, along with mobile accessories, are expected to be purchased by Mexican consumers, resulting in revenues approaching US$1 billion. Revenues are expected to grow at an average rate of 3% over the next five years and reach almost 6 billion MXN by 2022.
4. Toys & Games
The toys and games market in Mexico has shown steady growth in recent years, with sales increasing from around 1 billion MXN in 2012 to over 1.5 billion MXN in 2016. It is estimated that sales will increase at a rate of almost 2% per year until 2020, when it will exceed US$1.6 million. The increased demand for this product can be attributed to factors such as availability of better products due to improving technology, exposure through digital media including internet usage, and increased appeal thanks to improved designs.
5. Books
In 2015, around 1 million books and just over 1 million magazines were sold in Mexico. This resulted in revenue of almost 500 million MXN. In the coming years, sales are expected to continue growing at a steady pace as people become increasingly literate due to better access to education and the availability of various other means such as the internet and digital media to obtain information. The number of book and magazine purchases is expected to increase by a further 20% between 2016 and 2020, resulting in revenues exceeding 610 million MXN.
6. Food Products
Mexican consumers have shown an increasing demand for supermarket products in recent years, which has led to market growth. In 2015, around 2 million units were sold on the market, with revenue of around US$1 billion. This number is expected to reach close to 5 million by 2022, resulting in revenue exceeding US$3 billion.
7. Personal Care Products
It is estimated that more than 1 billion euros 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 grown at an average rate of 2% per year since 2012 In five years, the number is expected to increase even further and reach around 4 million units, resulting in revenues in excess of US$2 billion.
8. Sports items
In recent years, there has been an increase in demand for sporting and leisure items among Mexican consumers. In 2015, around 3 million units were purchased, with revenues of US$1 billion. It is estimated that more than 4 million items will be purchased by 2022, resulting in revenue 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, almost 2 million electronic devices were sold with a value of MXN 1 billion. This number is expected to grow steadily until 2020, when sales will reach close to 7 million, resulting in revenues exceeding 10 billion MXN.
10. Furniture
Furniture and lighting have remained a key product category in Mexico, with a steady increase in demand. In 2015, more than 300 million MXN were generated by sales of around 1 million units. This number is expected to increase another 20% between 2016 and 2020, reaching close to 360 million MXN.
Conclusion:
All of the aforementioned product categories have seen a steady increase in demand and projections indicate that this is likely to continue. This gives players operating in these sectors an opportunity to maximize their profits by following the right strategies and coming up with innovative products.
