Mexico Retail Set for 4.56% CAGR Boosted by E-Commerce

The Mexico retail market is expected to achieve a Compound Annual Growth Rate (CAGR) of 4.56% between 2025 and 2033, according to a new study by IMARC Group. Valued at US$454.5 billion in 2024, the market is projected to reach US$693.0 billion by 2033.

The research, titled "Mexico Retail Market Report by Product and Region 2025-2033," offers a comprehensive analysis of market drivers, segmentation, and competitive dynamics. Product segments examined include Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobbies, and Electronics and Household Appliances. Distribution channels analyzed comprise Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, and Online Stores.

Market growth is fueled by urbanization, evolving consumer lifestyles, and economic recovery, which have expanded the middle class and increased purchasing power. Technological advancements and changing consumer behaviors are transforming the sector, with smartphone adoption and internet access driving e-commerce growth.

The convenience of home shopping, competitive pricing, and expanded logistics and delivery services are strengthening online retail. Retailers are responding to the rising demand for omnichannel experiences, integrating digital infrastructure, partnerships with tech firms, and data analytics to better understand consumer preferences.

While brick-and-mortar stores remain significant, the e-commerce segment is rapidly gaining traction, prompting investments in digital platforms and personalized shopping solutions. Digital payment adoption and omnichannel strategies are expected to blur the lines between online and offline channels, delivering seamless experiences for consumers.

The report concludes that the market is poised for continued growth, driven by innovation, adaptability, and technology adoption, creating opportunities for both established players and new entrants in Mexico’s retail sector.