Mexican Consumers Embrace International E-Commerce

With the surge in e-commerce and growing consumer confidence in digital marketplaces, Mexicans are displaying a 78% increased likelihood of making online purchases, irrespective of the product’s country of origin. 

Mexicans are also increasingly interested in exporting. According to a Stripe survey conducted among Mexican business leaders focusing on digital exports, 75% have plans to venture into new international markets within the next 24 months. This upward trend has been consistent since the onset of the pandemic, with brands increasingly seeking opportunities to expand their global footprint. 

Despite the challenges the retail market faces in China, which is the world’s largest, Mexican e-commerce consultancy Lievant is aiding Mexican businesses in reaching the Chinese market. 

“Transactions in China amount to US$6 trillion annually, with US$3 trillion accounting for domestic transactions. Half of all global e-commerce transactions occur in the Chinese market. Despite any slowdown, the sheer size of the Chinese market presents an opportunity for certain Mexican products to increase their sales by at least 10 times simply by entering it,” José Torres, Director General, Lievant, tells MBN.

According to Leviant, exports to the United States through its platform increased by 117% from 2021 to 2022. Subsequent export destinations for Mexican businesses include Canada, Colombia, the United Kingdom, and Ireland. Additionally, 47% of Mexican businesses plan to expand their operations to North America, followed by 22% eyeing Europe, and 20% targeting South America. 

In terms of digital shopping, a key enabler for international e-commerce, 78% of surveyed Mexicans are willing to purchase digital services, reflecting the growing demand for online offerings. Furthermore, 87% of shoppers express openness to buying physical goods online, surpassing consumer sentiments in other analyzed markets, including the United States and the United Kingdom. 

To facilitate online shopping, Natalia Peláez, CEO, BlackSip, recommends prioritizing the diversification of payment methods. She notes that diversifying payment options “[empowers] customers to choose the method they find most comfortable, fostering a sense of trust and inclusivity.”

As Mexican markets continue their international expansion, businesses are increasingly recognizing the importance of incorporating diverse and accessible forms of payment. According to a Stripe survey, 88% of respondents acknowledged the necessity of having different payment methods adapted for local markets.