Demographics
Mexico is located in the south of North America, bordered by Belize, Guatemala, Cuba, and Honduras. Water bodies inclusive of the Caribbean Sea, Pacific Ocean, and the Gulf of Mexico surround the country. The Mexicans are trilingual and speak Spanish, Maya, and Nahuatl.
The current population of Mexico is 129.6 million making it the 10th most populated country in the world. The population has increased by 1% (1.3 million) from January 2020 to January 2021. Around 27% of people are under 15; 65% lie in the age group of 15 to 60 years while the rest are above 60.
| Population | Internet users | Social media users | Online shoppers | Popular modes of payment |
|---|---|---|---|---|
| 129.6 million | 92.01 million | 100 Million | 50.70Million | Cards, e-wallets and bank transfers |
Average salary
In Mexico, a working person earns approximately 33,200 MXN (Mexican Peso) monthly. The highest average salary is 148,000 MXN, and the lowest average salary is 8,410 MXN per month. The income is inclusive of transport, housing, and other benefits and varies upon careers and experiences.
Economy
Mexico’s economy stood as the 67th freest in the 2020 Index of Economic Freedom. Its largest industries include tobacco, food & beverages, clothing, petroleum, and tourism, etc. Mexico is one of the world’s major exporters of oil and oil products. The largest trading partner of Mexico is the United States, while Canada is at 2nd.
E-commerce in Mexico
71% of the population has access to the internet in Mexico. From 2020 to 2021, internet users increased by 4%, and 100 million of them are active social media users. The number of online buyers in Mexico is 50.70 million, and this number is forecasted to reach 77.9 million in the coming 5 years.
It is reported that 90.5% of people searched for an online product or service, and 76.4% purchased the product in 2020. The popularity of m-commerce is also noticeable here making dropshipping to Mexico feasible. Of the total purchases made online, 54% were via mobile phones.
Modes of payment
The most preferred payment method of e-commerce shopping in Mexico includes credit cards. Out of all the purchases made online, 61% were paid through cards. The 2nd common method is E-wallet, while bank transfers, cash on delivery, and direct debits are also used.
Popular products
The largest and most popular segment of Mexican e-commerce is travel, mobility, and accommodation. It makes the most of the e-commerce market revenue. Media and electronics is the next popular segment, followed by fashion and beauty, furniture, and appliances.
Future of e-commerce in Mexico
44.4% Mexican population are online shoppers, and this population is projected to reach 60.1% by the end of 2025. The e-commerce market is growing at a smooth pace in Mexico and does not seem to slow down any sooner. The e-commerce market revenue is forecasted to reach $21,209 million in 2021 and $24,601 million by 2025.
Dropshipping to Mexico
You can be a part of the thriving Mexican e-commerce industry by dropshipping to Mexico by Wefullfill. We offer swift delivery within 8to 12 business days for as low as $4.50.
