Ecommerce Numbers Rise in FebruaryBy Sofía Hanna | Mon, 04/26/2021 - 17:44
Digital commerce in Mexico grew 62.3 percent year-on-year in February, according to data from INEGI’s Monthly Survey of Commercial Companies (EMEC). This type of commerce has been fundamental to the survival of businesses during the pandemic and, even though it was difficult for several companies to integrate this sales mode, we are seeing an increase that could be very positive.
This increase is relevant because the trade and service sector represents MX$6 (US$0.3) out of every MX$10 (US$0.5) of the national GDP and ecommerce is a tool that facilitates the continuation of trade despite the pandemic, according to INEGI’s data reported in El Economista.
Retail merchandise sales are also growing 1.6 percent every month, according to INEGI. Marcos Arias, an analyst at Grupo Financiero Monex, tells El Economista that "The increase (in sales) is the result of the gradual process of reopening the economy that occurred the month after COVID-19 forced (businesses) to suspend activities during December and January."
Analysts from Grupo Financiero Banorte explained that "Specifically, people could be spending their savings due to a greater offer of open places to purchase from. In addition, the improvement in employment and the high inflows of remittances were probably also important catalysts (to the growth of retail sales)." The sectors that showed the most growth were textiles, clothing and accessories, followed by stationery, entertainment, self-service and departmental items and finally groceries. Making a comparison between 2021 and 2020, retail revenues fell by 3.8 percent, a slide that was the sharpest since March 2020, when it fell by 1.9 percent.
Many businesses were, in a way, forced to migrate or develop online shopping platforms to maintain their business afloat during the pandemic, explains an MBN article. Even though this new tool has been helpful for many, it still remains a problem for businesses that do not know how use these platforms. In fact, 26 percent of online sellers in Mexico have been doing this activity for a year, according to Marketing for Ecommerce. Even though this may seem high, 4 out of 10 online sellers report that they sell in addition to a paid job that takes them more than 30 hours per week. Selling is still not a full-time job in many cases because there is not enough knowledge of how their physical store strategies can be turned into digital ones.