After a challenging 2022 due to high inflation, retail sales in Mexico saw healthy growth for a third consecutive year in current value terms in 2023, confirming the effects of the COVID-19 pandemic are far behind. In fact, based on the Consumer Confidence Index elaborated by the National Institute of Statistics and Geography, in December 2023 the Index was at the highest level since it was created in 2001.
The Retail in Mexico report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.
Product coverage: Retail E-Commerce, Retail Offline.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
The Retail in Mexico report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.
Product coverage: Retail E-Commerce, Retail Offline.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Retail market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Table of Contents
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EXECUTIVE SUMMARY
- Retail in 2023: The big picture
- The overall number of stores is higher than the pre-pandemic level, but performances differ between grocery and non-grocery retailers
- Retailers improve the shopping experience in order to attract consumers
- What next for retail?
OPERATING ENVIRONMENT
- Informal retail
- Opening hours for physical retail
- Summary 1 Standard Opening Hours by Channel Type 2023
- Seasonality
- Christmas Season
- Back to School
- Hot Sale
- Buen Fin
MARKET DATA
- Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
- Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
- Table 3 Sales in Retail Offline by Channel: Value 2018-2023
- Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
- Table 5 Retail Offline Outlets by Channel: Units 2018-2023
- Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
- Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
- Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
- Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
- Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
- Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
- Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
- Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
- Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
- Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
- Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
- Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
- Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
- Table 21 Retail GBO Company Shares: % Value 2019-2023
- Table 22 Retail GBN Brand Shares: % Value 2020-2023
- Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
- Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
- Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
- Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
- Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
- Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
- Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
- Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
- Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
- Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
- Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
- Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
- Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
- Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
- Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
- Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
- Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
- Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
- Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
- Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
- Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
- Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
- Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
- Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
- Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
- Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
- Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
SOURCES
- Summary 2 Research Sources
2023 DEVELOPMENTS
- Impulse purchases and recent store expansion boost sales of convenience stores
- Convenience retailers find opportunities in loyalty programmes and financial inclusion
- OXXO remains the leading player, and invests in offering experiences
PROSPECTS AND OPPORTUNITIES
- OXXO will apply AI tools to locate and identify optimal locations
- Digital transformation and financial inclusion are key for consumers
- Grupo Bimbo enters convenience retailers
CHANNEL DATA
- Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
- Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 56 Sales in Convenience Retailers by Channel: Value 2018-2023
- Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
- Table 58 Convenience Retailers GBO Company Shares: % Value 2019-2023
- Table 59 Convenience Retailers GBN Brand Shares: % Value 2020-2023
- Table 60 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
- Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
- Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028
2023 DEVELOPMENTS
- Recovery of purchasing power hampers the growth of discounters
- Wal-Mart continues to dominate discounters, expanding its chains and improving payment methods
- After the exit of PayBack in 2023, discounters launch new loyalty programmes
PROSPECTS AND OPPORTUNITIES
- Companies will continue to invest in both the physical and online worlds
- Discounters will continue to gain ground against small local grocers
- The entry of Mi Súper Dollar General will generate a more competitive environment
CHANNEL DATA
- Table 65 Discounters: Value Sales, Outlets and Selling Space 2018-2023
- Table 66 Discounters: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 67 Discounters GBO Company Shares: % Value 2019-2023
- Table 68 Discounters GBN Brand Shares: % Value 2020-2023
- Table 69 Discounters LBN Brand Shares: Outlets 2020-2023
- Table 70 Discounters Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 71 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- Hypermarkets boost sales by improving the supply and variety of products
- Click-and-collect is becoming a key difference from other retail channels
- Walmart offers the first pet-friendly hypermarket
PROSPECTS AND OPPORTUNITIES
- Hypermarkets’ omnichannel distribution strategies will boost sales
- Retailers will continue to invest in and develop private label products
- Response time will continue to be relevant to consumers
CHANNEL DATA
- Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2018-2023
- Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 74 Hypermarkets GBO Company Shares: % Value 2019-2023
- Table 75 Hypermarkets GBN Brand Shares: % Value 2020-2023
- Table 76 Hypermarkets LBN Brand Shares: Outlets 2020-2023
- Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- The recovery of real salaries attracts consumers to supermarkets
- Retailers focus on remodelling in addition to opening new stores
- Independent supermarkets are still relevant in the interior of the country
PROSPECTS AND OPPORTUNITIES
- Strong competition expected for supermarkets in the short term
- Financial services expected to be a key business strategy
- The focus on fresh and healthy concepts will continue to gain ground
CHANNEL DATA
- Table 79 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
- Table 80 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 81 Supermarkets GBO Company Shares: % Value 2019-2023
- Table 82 Supermarkets GBN Brand Shares: % Value 2020-2023
- Table 83 Supermarkets LBN Brand Shares: Outlets 2020-2023
- Table 84 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 85 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- Development of modern grocery channels negatively impacts small local grocers
- Small local grocers play a key role in the Mexican economy
- Segalmex continues to lead a fragmented channel
PROSPECTS AND OPPORTUNITIES
- Irregularities, fraud and corruption could threaten Segalmex
- Small local grocers will continue to play a key role despite expansion of modern channels
- More stores will partner with delivery apps to expand to e-commerce
CHANNEL DATA
- Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
- Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 88 Small Local Grocers GBO Company Shares: % Value 2019-2023
- Table 89 Small Local Grocers GBN Brand Shares: % Value 2020-2023
- Table 90 Small Local Grocers LBN Brand Shares: Outlets 2020-2023
- Table 91 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 92 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- Inflationary pressures and the impact of the second-hand market affect apparel and footwear specialists
- Retailers continue to invest in e-commerce
- Pop-up stores are becoming increasingly popular
PROSPECTS AND OPPORTUNITIES
- Move towards omnichannel and the phygital environment
- Social media will remain a key tool for small retailers
- Second-hand market likely to play an increasingly important role in the short term
CHANNEL DATA
- Table 93 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
- Table 94 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 95 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
- Table 96 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
- Table 97 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
- Table 98 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 99 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- Discounts and free instalment payments boost demand
- In a fragmented channel, the ishop chain continues to lead
- The number of stores returns to the pre-pandemic level in 2023
PROSPECTS AND OPPORTUNITIES
- E-commerce will continue to gain ground, driven by third-party retailers
- Customer experience and sustainability will play a key role
- New players expected, driven by economic recovery
CHANNEL DATA
- Table 100 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
- Table 101 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 102 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
- Table 103 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
- Table 104 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
- Table 105 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 106 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
2023 DEVELOPMENTS
- Beauty specialists sees the best performance, but remains below pre-pandemic levels
- Pharmacies expand their products and services to attract consumers
- Providing unique experiences motivates customer visits and loyalty
PROSPECTS AND OPPORTUNITIES
- E-commerce will continue to grow alongside physical stores
- Pharmacies will continue to lead health and beauty specialists in value terms
- Opportunity to work towards a sustainable future to attract consumers
CHANNEL DATA
- Table 107 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
- Table 108 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 109 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
- Table 110 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
- Table 111 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
- Table 112 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
- Table 113 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
- Table 114 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 115 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 116 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
- Table 117 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028
2023 DEVELOPMENTS
- Lack of consumer confidence postpones home renovations and remodelling
- The number of stores remains below the pre-pandemic level
- Retailers partner with delivery companies to improve delivery time and coverage
PROSPECTS AND OPPORTUNITIES
- Hypermarkets and department stores will hamper the growth of home products specialists
- Sustainability expected to be a growing area for home products specialists
- Outlet numbers will surpass pre-pandemic level by 2025, with IKEA and H&M Home becoming relevant players
CHANNEL DATA
- Table 118 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
- Table 119 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 120 Sales in Home Products Specialists by Channel: Value 2018-2023
- Table 121 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
- Table 122 Home Products Specialists GBO Company Shares: % Value 2019-2023
- Table 123 Home Products Specialists GBN Brand Shares: % Value 2020-2023
- Table 124 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
- Table 125 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 126 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 127 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
- Table 128 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028
2023 DEVELOPMENTS
- Expansion in the number of stores boosts sales of general merchandise stores
- Low-income consumers remain hesitant to purchase at general merchandise stores
- Companies continue to invest in an omnichannel strategy
PROSPECTS AND OPPORTUNITIES
- Despite e-commerce expansion, companies will continue to invest in new stores
- Competition between department stores and marketplaces expected to intensify
- In-store experience, technology, and financial inclusion expected to improve
CHANNEL DATA
- Table 129 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
- Table 130 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
- Table 131 Sales in General Merchandise Stores by Channel: Value 2018-2023
- Table 132 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
- Table 133 General Merchandise Stores GBO Company Shares: % Value 2019-2023
- Table 134 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
- Table 135 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
- Table 136 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
- Table 137 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
- Table 138 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
- Table 139 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028
2023 DEVELOPMENTS
- Sales increase, but the number of direct selling agents continues to decrease
- Companies continue to invest in omnichannel strategies
- Health and beauty, and fashion continue to dominate sales in direct selling
PROSPECTS AND OPPORTUNITIES
- Investment in technology will help connect with younger consumers
- Direct selling companies are implementing sustainability to boost public perception
- Players in direct selling are adopting new payment methods in order to compete with other channels
CHANNEL DATA
- Table 140 Direct Selling by Product: Value 2018-2023
- Table 141 Direct Selling by Product: % Value Growth 2018-2023
- Table 142 Direct Selling GBO Company Shares: % Value 2019-2023
- Table 143 Direct Selling GBN Brand Shares: % Value 2020-2023
- Table 144 Direct Selling Forecasts by Product: Value 2023-2028
- Table 145 Direct Selling Forecasts by Product: % Value Growth 2023-2028
2023 DEVELOPMENTS
- Boom in tourism and better economic conditions support the growth of vending
- Touchless technology and electronic payment methods help drive growth
- Most vending sales are concentrated amongst three multinational companies
PROSPECTS AND OPPORTUNITIES
- Product range set to continue to increase
- Companies will continue to invest in smart vending machines
- Vending still has a great deal of room for growth
CHANNEL DATA
- Table 146 Vending by Product: Value 2018-2023
- Table 147 Vending by Product: % Value Growth 2018-2023
- Table 148 Vending GBO Company Shares: % Value 2019-2023
- Table 149 Vending GBN Brand Shares: % Value 2020-2023
- Table 150 Vending Forecasts by Product: Value 2023-2028
- Table 151 Vending Forecasts by Product: % Value Growth 2023-2028
2023 DEVELOPMENTS
- E-commerce maintains strong growth, driven by increasing demand from consumers with limited purchasing power
- Companies are investing in last-mile delivery in order to improve the customer experience
- Financial fraud remains a main barrier to shopping online for many consumers
PROSPECTS AND OPPORTUNITIES
- Retail e-commerce set to maintain growth, albeit at a more modest pace than seen in the review period
- Companies will continue to make improvements to retail e-commerce
- Marketplaces set to gain relevance over the forecast period
CHANNEL DATA
- Table 152 Retail E-Commerce by Channel: Value 2017-2022
- Table 153 Retail E-Commerce by Channel: % Value Growth 2017-2022
- Table 154 Retail E-Commerce by Product: Value 2017-2022
- Table 155 Retail E-Commerce by Product: % Value Growth 2017-2022
- Table 156 Retail E-Commerce GBO Company Shares: % Value 2018-2022
- Table 157 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
- Table 158 Forecast Retail E-Commerce by Channel: Value 2022-2027
- Table 159 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
- Table 160 Forecast Retail E-Commerce by Product: Value 2022-2027
- Table 161 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027
