{"id":3186,"date":"2021-01-04T13:55:12","date_gmt":"2021-01-04T19:55:12","guid":{"rendered":"http:\/\/accesstomexico.mx\/blog\/?p=3186"},"modified":"2021-01-08T13:58:20","modified_gmt":"2021-01-08T19:58:20","slug":"e-commerce-was-a-big-winner-in-2020-sales-expected-to-be-up-over-30","status":"publish","type":"post","link":"https:\/\/accesstomexico.mx\/blog\/e-commerce-was-a-big-winner-in-2020-sales-expected-to-be-up-over-30\/","title":{"rendered":"E-commerce was a big winner in 2020; sales expected to be up over 30%."},"content":{"rendered":"\n
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MEXICO NEWS DAILY<\/a><\/p>\n\n\n\n

The Mexican economy took a significant hit from the coronavirus pandemic and associated restrictions but one big winner in 2020 was e-commerce.<\/p>\n\n\n\n

Helped in no small part by stay-at-home recommendations, online sales were projected to reach US $18.8 billion in 2020, according to a November report by German market and consumer data company Statista. The figure is almost 32% higher than e-commerce sales in Mexico in 2019, which totaled $14.26 billion.<\/p>\n\n\n\n

According to Statista, spending on electronics and media was projected to be $5.88 billion in 2020, or almost a third of the total e-commerce expenditure.<\/p>\n\n\n\n

The predicted outlay on fashion items purchased online was just under $4.52 billion, while $3.44 billion was expected to be spent on toys, hobbies and DIY products and $3 billion on furniture and appliances.<\/p>\n\n\n\n

Just over $1.93 billion was projected to be spent online on food and personal care.<\/p>\n\n\n\n

Statista also predicted that a total of 50.7 million Mexicans would make online purchases in 2020, an 8.8% increase compared to 2019. Market penetration was predicted to be 39.3% of the population, up from 36.5% last year.<\/p>\n\n\n\n

A co-founder of Triciclo, a marketing agency that specializes in e-commerce, said that growth in the sector during the pandemic was equivalent to what was expected over a period of two years. Renata Raya said that some small and medium-sized businesses saw their overall sales increase by as much as 500%.<\/p>\n\n\n\n

\u201cThose that had a physical store were forced to enter the world of e-commerce,\u201d she said. \u201c\u2026 We also have clients that already sold online and \u2026 for them, the growth was very significant.\u201d<\/p>\n\n\n\n

Raya also said that nine out of 10 people who made an online purchase for the first time in 2020 shopped online again a short time later. She added that she expects e-commerce growth to continue in the short term.<\/p>\n\n\n\n

Indeed, Statista forecasts that total online sales in Mexico will reach $21.2 billion this year, which would be a 12.8% increase over the 2020 projection. By 2025, e-commerce revenue will hit $24.6 billion and 77.9 million Mexicans will be shopping online, the company predicts.<\/p>\n\n\n\n

The enterprise sales manager for Magento Commerce, an e-commerce website creation platform, agreed that online sales will continue to increase even when shopping in bricks and mortar stores no longer poses a threat to people\u2019s health.<\/p>\n\n\n\n

\u201cWhile it\u2019s true that a lot of people are tired of being at home, a lot of people have also noticed the convenience\u201d of online shopping, Mario Ju\u00e1rez said.<\/p>\n\n\n\n

Companies evaluated by Magento have seen their online sales increase by between 300% and 400%, he said.<\/p>\n\n\n\n

Like Raya, Ju\u00e1rez said the pandemic has accelerated e-commerce growth in Mexico, charging that it has placed the sector in a position it would have otherwise reached in a decade.<\/p>\n\n\n\n

But despite the growth in 2020, both company representatives believe that safety concerns and logistical challenges are among the constraints on the e-commerce sector.
<\/p>\n\n\n\n

Indeed, the Mexican Association of Online Sales found that 48% of people it surveyed believe that shopping online is unsafe. Another barrier for is that only 47% of Mexicans have a bank account, according to the latest financial inclusion survey conducted by the national statistics agency Inegi.<\/p>\n\n\n\n

\u201cThere is still a very large [part of the] market\u201d that doesn\u2019t shop online, said Ju\u00e1rez, adding that the \u201cmain challenge\u201d for the e-commerce sector is the low proportion of the population with access to bank services.<\/p>\n\n\n\n

However, many companies have developed different payment methods for people without bank accounts, he added.<\/p>\n\n\n\n

Among them: paying for online purchases at convenience stores such as OXXO, paying cash on delivery and using gift cards and e-vouchers.<\/p>\n\n\n\n

Plus the new fintech banks, which only operate on line, have made opening a bank account simple and fast and they offer credit or debit cards.<\/p>\n\n\n\n

Mexico News Daily Staff. (2021). E-commerce was a big winner in 2020; sales expected to be up over 30%. M\u00e9xico.\u00a0Mexico News Daily<\/em>. Recuperado de\u00a0<\/strong>https:\/\/mexiconewsdaily.com\/news\/coronavirus\/e-commerce-was-a-big-winner-in-2020\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MEXICO NEWS DAILY The Mexican economy took a significant hit from the coronavirus pandemic and associated restrictions but one big winner in 2020 was e-commerce. Helped in no small part by stay-at-home recommendations, online sales were projected to reach US […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3186","post","type-post","status-publish","format-standard","hentry","category-uncategorized","clearfix"],"_links":{"self":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/3186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/comments?post=3186"}],"version-history":[{"count":1,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/3186\/revisions"}],"predecessor-version":[{"id":3188,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/posts\/3186\/revisions\/3188"}],"wp:attachment":[{"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/media?parent=3186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/categories?post=3186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/accesstomexico.mx\/blog\/wp-json\/wp\/v2\/tags?post=3186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}