The recent events must have been known to the whole country, and the third Belt and Road Forum for International Cooperation is being held in full swing.
This year marks the 10th anniversary of the "Belt and Road" initiative. China's cooperation with countries around the world extends from the Eurasian continent to Africa and Latin America. For example, infrastructure investment involving Chinese enterprises includes important projects such as the Mayan Railway in Mexico.
In the past decade, China's trade with Latin America has become closer and closer, and it has become the second largest trade partner in Latin America for ten years. In 2021, the trade between China and Latin America will exceed 450 billion US dollars, and further increase to a historical high of 485.8 billion US dollars in 2022.
Mr. Sifang has analyzed the cross-border e-commerce market in Latin America in depth before. Today, let's continue the topic Mexico, the second largest e-commerce market in Latin America 。
Mexico It is the birthplace of Indian culture, known as the "Mother of Indian Civilization", where the mysterious Mayan culture was born. The 2012 doomsday prophecy you have heard comes from this civilization. The wheels of history roll forward, Why do cross-border people now regard Mexico as an emerging blue ocean market?
![]()
70.4 billion dollar e-commerce market
According to the data of the World Bank, Mexico is one of the most suitable countries in Latin America to develop business, with huge economic potential.
Mexico, with a huge population of nearly 130 million, is the second largest economy in Latin America (second only to Brazil) and the 15th largest e-commerce market in the world In 2023, the revenue is expected to increase by 21.5% to reach US $42157.4 million. From 2023 to 2027, the compound annual growth rate is expected to be 13.7%, and the market size is expected to reach 70.436.4 billion dollars by 2027.
In addition, Mexico has great e-commerce opportunities. The e-commerce penetration rate is 49%, the Internet users reach 85 million, and the penetration rate is 74%. It is higher than the world average and even higher than China.
At the same time, Mexico's roads, airports, railways and ports are increasingly modernized, which creates favorable conditions for the development of cross-border e-commerce. In addition to a series of official support policies, Mexico has naturally become a host of The first stop for Chinese sellers to go to sea, even the sellers who originally focused on the US market will "part-time" deliver goods to Mexico from time to time.
![]()
![]()
Young people are enthusiastic about consumption
McKinsey released the survey results of Mexican consumers in 2023, which conducted interview research on more than 1000 Mexican consumers from different income groups. According to the survey, 30% of Mexican consumers expect that their financial situation this year will be better than last year's, and consumers will naturally be more willing to spend when they are economically well-off.
Statista, a market research organization, predicts that, By 2025, about 58% of Mexican consumers will purchase goods or services from the Internet, This figure was only 39% at the end of 2020.
Mexico's e-commerce consumer groups usually have the following characteristics:
![]()
Mexicans love to buy fashion, electronics and home
According to the research report Beyond Borders in 2020/2021 released by EBANX, Mercado Libre, Amazon and Coppel are the top three e-commerce platforms in Mexico.
Mercado Libre still has 1.3 billion traffic under the strong siege of Amazon, but Amazon's growth rate is amazing, with an annual growth rate of 51%, the second highest growth rate among the top 10 platforms.
As for what the sellers are most concerned about Options Question: A statistical data from AMVO (Mexican Online Retail Association) gives a reference: