The United States of Mexico is a federal republic located in north-central America. Mexico has a population of over 120 million people, which makes it the most populated 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 2024, Mexico was reported to have exported goods worth nearly US$264 billion, making it one of the largest exporters worldwide.
Mexico’s primary exports are oil and gas, cars, machinery equipment, and computers among other items. It also has a sizable agricultural sector that produces crops such as tomatoes, corn, beans, and chili peppers for domestic consumption or export purposes. As a developing nation, there still remains 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 percent or more of household incomes are spent on food. However, this situation has been improving over the last few years with the economy growing at rates above 3 percent per annum due to major 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 percent over the next five years until 2020, reaching a value of US$17 billion. The top-selling items include consumer electronics such as smartphones, computers tablets, mobile accessories, toys sports equipment, and home appliances among other items. In addition, a growing number of Mexican shoppers are turning to online shopping as a convenient alternative to physical stores or catalogs.
In 2016, Mexico’s eCommerce 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 percent over the next five years. This increase can largely be attributed to increasing internet use amongst Mexicans as well as efforts by businesses and government moving towards digitizing processes thus creating opportunities for companies operating within this space. Mexican President Enrique Peña Nieto has been actively pushing for structural reform where he has made significant changes related to telecom and energy statutes that have opened up new opportunities for all industries. His plan focuses on boosting competition, investment, and growth in Mexico.
Here is the list of top-selling products in Mexico online 2024
Table of Contents
1. Mobile 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, there were more than 95 million mobile phones sold with around 22 million people using smartphones. The number of people using these devices will continue to grow as the use of the internet spreads throughout different regions and social classes. Sales are likely to reach almost 117 million units by the end of 2024 resulting in revenues exceeding US$12 billion.
2. Home Appliances
Mexico’s economy has been growing at a fast pace over recent years which has led to an increase in demand for home appliances. In 2015, around 9 million appliances were sold resulting in a revenue of US$3 billion. In the next few years, sales are expected to continue increasing at a steady rate as more houses are built and infrastructure is developed across the country. By 2024, sales will reach almost 12 million units with revenues exceeding US$4 billion.
3. Mobile accessories
Sales of mobile accessories increased from MXN 817 million in 2014 to over MXN 1 billion in 2015 registering a growth rate of around 20 percent. Factors such as an increase in smartphone use in addition to the wide range of products available have contributed towards this growth. In 2016, it is expected that 2 million mobile devices along with mobile accessories will be purchased by Mexican consumers resulting in revenues close to US$1 billion. Revenues are expected to grow at an average rate of 3 percent over the next five years and will reach almost MXN 6 billion by 2024.
4. Toys & Games
The toys and games market in Mexico has shown steady growth in recent years with sales increasing from close to MXN 1 billion in 2012 to more than MXN 1.5 billion in 2016. It is estimated that sales will increase at a rate of almost 2 percent per annum till 2020 when it will exceed US$1.6 million. 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 internet usage, and wider appeal thanks to improved designs.
5. Books
In 2015, around 1 million books and a little more than 1 million magazines were sold in Mexico. This resulted in a revenue of almost MXN 500 million. In the next few years, sales are expected to continue growing at a steady rate as people become increasingly literate due to better education access and the availability of various other mediums such as the internet and digital media for information. The number of book and magazine purchases is expected to increase by another 20 percent between 2016-2020 resulting in revenues exceeding MXN 610 million.
6. Food Products
Mexican consumers have shown an increasing demand for grocery products over the past few years which has led to growth in the market. In 2015, around 2 million units were sold in the market with a revenue of around US$1 billion. This number has been projected 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 MXN 1 billion worth of personal care products such as shampoos, soaps, and other cosmetic items will be consumed by Mexican citizens in 2017. The demand for this product has grown at an average rate of 2 percent annually since 2012. In five years’ time, the number is expected to increase further and reach about 4 million units resulting in revenues exceeding US$2 billion.
8. Sports Items
Over the past few years, there has been an increase in demand for sports and leisure items among Mexican consumers. In 2015, around 3 million units were purchased with revenues reaching US$1 billion. It is estimated that more than 4 million items will be purchased by 2022 resulting in revenue exceeding US$2 billion.
9. Electronic devices
Electronic devices have remained popular among Mexican consumers over the past few 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 till 2020 when sales will reach close to 7 million resulting in revenues exceeding MXN 10 billion.
10. Furniture
Furniture and lighting have remained a key product category in Mexico with a steady rise in demand. In 2015, more than MXN 300 million was generated by sales of around 1 million units. This number is expected to increase by another 20 percent between 2016-2020 reaching close to MXN 360 million.
Conclusion:
All the above-mentioned product categories have seen a steady rise 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.
