Mexican Marketplaces See 78% Surge in Sellers in 2023

Mexican marketplaces experienced a 78% increase in the number of sellers in 2023, according to a study by Retail Compass. 

Regarding assortment offering, the analyzed Mexican marketplaces displayed a trend towards expanding assortments by at least 350% compared to their direct sales. Individual growth rates varied: Mercado Libre saw a 14% increase, Walmart 129%, Coppel 10,000%, and Elektra 62%. Conversely, Liverpool and Claroshop witnessed decreases of 8% and 25%, respectively.

Seller expansion emerges as another significant trend, with Liverpool experiencing an 11% increase in sellers, while Walmart, Mercado Libre, Coppel, and Elektra saw substantial growth at 78%. Claroshop was the only platform to observe a decline of -2% in this aspect. The study suggests that although some platforms saw a decrease in assortment, it is considered more of an assortment optimization rather than a decline in the store, as sellers either increase or remain constant.

Category evolution was also noted, with MercadoLibre and Coppel emerging as the marketplaces with the highest number of available categories. Walmart introduced the hardware category and pashed out fashion, while Elektra diversified towards fashion, particularly footwear, representing 37% of its assortment last year.

The study highlights the increasing role of marketplaces in facilitating the internationalization of small and medium-sized enterprises (SMEs) in Mexico. Payoneer, a financial services company, outlined identifying the right marketplace, determining target markets, and selecting a reliable payment platform as key tips for succeeding in the sector.