As the world becomes more digitally-driven, Mexico is poised to become a major player in the electronic commerce industry. According to analysts at Monex, the growth of e-commerce and logistics activities is expected to become a significant source of value generation for the country’s business sector.
Before the COVID-19 pandemic, e-commerce was not widely used or known in Mexico. However, the pandemic and subsequent lockdowns led to a surge in online sales through self-service and department stores. Data from the Mexican Online Sales Association (AMVO) indicates that retail e-commerce grew by 24.6 percent annually in 2023, with around 66 million users, almost half of the country’s population, making online purchases.
The growth of e-commerce has driven investments in logistics operations to meet consumer demand. Mexico has established itself as a key storage center to support the increase in online sales. Investments in logistics are expected to reach $25 billion, with a focus on the central region of the country, including Mexico City, the state of Mexico, Guadalajara, and Monterrey.
Online sales are projected to represent 20 percent of total retail sales by 2028, up from the current 11 percent. A significant portion of the logistics sector is related to e-commerce, including food and medical components. The growth of online commerce in Mexico is expected to support domestic demand and stimulate exports to other countries in North America.
The nearshoring of logistics operations has also benefited other industries beyond manufacturing. The impact of nearshoring is not limited solely to manufacturing but has also positively influenced logistics activities throughout Latin America. Mexico has become a key center for storing goods for distribution across Latin America due to its strategic location and favorable trade agreements with neighboring countries like Canada and China.
The increasing importance of electronic commerce and logistics activities signals a shift towards a more digitally-driven business environment in Mexico
