Mexico Retail Visits Climb, Conversions Weaken

Mexico’s retail industry is undergoing a structural shift marked by rising consumer mobility but weakening in-store conversion rates. According to Getin’s 2025 Annual Report, pedestrian traffic in front of physical stores increased 5.7% year over year. However, the higher volume of potential customers did not translate into proportional sales growth, as attraction and conversion rates declined significantly.

The analysis, which monitored more than 5,550 physical stores across 25 sectors, indicates that sales growth in 2025 was driven primarily by higher average ticket values rather than an increase in transaction volume. Anabell Trejo, CEO and co-founder, Getin, said retailers “sold more expensive products, not more products,” reflecting price adjustments prompted by persistent inflationary pressures.

Sector Performance and Consumer Selectivity

Performance varied across segments. Footwear and Services recorded the strongest results in 2025. Footwear growth was largely supported by higher average ticket prices, while the services segment benefited from an increase in units sold. In contrast, the Furniture and Home category experienced declines in both revenue and ticket size. The steepest contraction was reported in the souvenir segment, which was affected by lower consumer demand and reduced foot traffic.

Data from the National Association of Self-Service and Department Stores (ANTAD) reinforce this trend. Affiliated chains reported total sales of MX$1.67 trillion (US$97.12 billion) in 2025. However, same-store sales grew by just 3.1%, while total sales increased 5.6%—a figure largely explained by the opening of approximately 1,700 new stores rather than stronger organic demand. 

Digital Acceleration and 2026 Outlook

While brick-and-mortar retailers face conversion challenges, e-commerce has consolidated its role as the sector’s primary growth engine. Online sales reached MX$867 billion in 2025, representing nominal growth of 23.8%. Department stores led the digital expansion, with revenue rising 26.9% year over year. Projections from the Mexican Online Sales Association (AMVO) indicate that by the end of 2026, online channels could account for 17.7% of total retail sales, approaching penetration levels observed in the United States.

Despite a slowdown in macroeconomic growth—Mexico’s GDP expanded 0.6% in 2025—retailers invested approximately US$3.3 billion to modernize infrastructure and digital capabilities. For 2026, ANTAD projects investment rising to US$3.7 billion, signaling continued confidence in long-term demand, albeit with greater emphasis on efficiency and omnichannel integration.

Industry executives emphasize that sustainable growth will depend less on store count and more on operational sophistication. The sector is increasingly relying on data analytics, inventory optimization and personalized marketing to improve conversion rates. Financial tools such as Buy Now, Pay Later (BNPL) services and microcredit solutions are expected to stimulate purchase frequency, particularly among underbanked consumers.

The 2026 FIFA World Cup could generate a temporary demand boost in categories such as electronics, appliances and sporting goods. However, analysts caution that structural profitability will hinge on retailers’ ability to convert higher traffic into effective sales through targeted engagement strategies, seamless omnichannel integration and optimized last-mile logistics.