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Mexico Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update

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    Report

  • 54 Pages
  • April 2022
  • Region: Mexico
  • PayNXT360
  • ID: 5578559
According to Q1 2022 Social Commerce Survey, social commerce industry in Mexico is expected to grow by 29.2% on annual basis to reach US$1591.7 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 26.8% during 2022-2028. The social commerce GMV in the country will increase from US$1591.7 million in 2022 to reach US$6488.4 million by 2028.

The social commerce trend has grown significantly across the Latin American region, especially in Mexico in the last two years. The growing adoption of digital channels along with the increasing smartphone and internet penetration rate among consumers are supporting the growth of the social commerce market in the country. The global pandemic outbreak also resulted in a shift in consumer shopping habits as consumers were confined to their homes, thereby spending most of their time online. This change in consumer shopping behavior has aided the growth of the social buyer penetration rate in the country over the last four to eight quarters.

With changes in consumer purchasing behavior expected to persist in the post-pandemic era, the publisher expects the social buyer penetration rate to record strong growth from the short-term perspective in the country. According to Q1 2022 Social Commerce Market Survey, the social buyer penetration rate in Mexico reached 31% in 2021, which is second only to Brazil at 39% in the Latin American region. As more and more shoppers buy products and services online, the publisher expects a strong inflow of investment from global investors, including venture capital and private equity firms, over the next four to eight quarters.

The growing use of social media platforms among consumers is driving the social commerce industry in Mexico


In Mexico, social commerce has started to gain relative ground in the e-commerce industry over the last few quarters. More than half of the consumers across the country have made social commerce purchases. One of the reasons driving social commerce purchases is the growing use of social media platforms among consumers in Mexico.

An estimated 80 million people are using Facebook in the country in 2021. Moreover, the country has more than 30 million active Instagram users. The publisher's recent survey revealed that out of the 55% who made a purchase through social commerce, more than 85% have claimed to buy products from Facebook, nearly 40% did it through WhatsApp, and 30% through Instagram.

With the number of users on these social platforms expected to grow even more over the next four to eight quarters, the publisher expects more and more consumers to opt for social commerce, which will subsequently drive the industry growth from the short to medium-term perspective.

Innovative social commerce startups are bringing e-commerce to the non-digital consumers in Mexico


In Latin America, a large proportion of consumers still do not have access to digital channels, such as e-commerce platforms and mobile wallets. Moreover, consumers are also wary of the growing concerns around online fraud. Social commerce platforms are innovating with their product offerings in Mexico to tap into this consumer demographic. For instance,
  • Launched in 2021, Neta is a Mexican social commerce startup that brings e-commerce to non-digital consumers in the country. Notably, the shopping model of Neta leverages mom-and-pop stores, the most dominant retail channel having a density of approximately 20 people for every shop in Mexico. The mom-and-pop stores serve as the initial entry point for the firm to a steady base of hundreds of weekly clients.
  • To further the popularity of its social commerce platform among consumers, the firm uses a Pinduoduo-inspired gamification feature. The mom-and-pop stores also function as a pick-up point for deliveries. Rather than delivering to each individual client, the firm fulfills weekly client orders in a single drop to each shop in the country. Through its innovative business model, the firm has gained increasing traction among consumers.

The publisher expects more innovative social commerce platforms to emerge over the next four to eight quarters in Mexico.

Homegrown innovative social commerce startups are looking to capitalize on the growing trend in Mexico


The social commerce industry is still developing and finding its place in the country. Over the last few quarters, several homegrown innovative social commerce startups have emerged as they realize the potential of the industry and are moving quickly to capitalize on this opportunity. For instance,
  • Vendora, the social commerce platform in Mexico, leverages the use of instant messaging apps, such as WhatsApp and other social networks, to close commercial transactions and promote products and brands. The platform was launched with the aim to support micro-entrepreneurs in the country in their digital transformation.
  • Notably, the platform can be used by anyone looking to increase their revenue and generate a new source of income. With a catalog of products and brands already available on the platform, one is just required to share the product with potential customers on social platforms and resell the products. As of December 2021, thousands of resellers are using the platform to share and resell products through social channels such as WhatsApp, Facebook, and Instagram.

The publisher expects more homegrown social commerce platforms to emerge and capitalize on the opportunity over the next four to eight quarters. This will further promote competition and innovation in the social commerce industry in Mexico from the short to medium-term perspective.

Scope


This report provides in-depth, data-centric analysis of social commerce in Mexico. Below is a summary of key market segments:

Mexico Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028


Mexico Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028


Mexico Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028

  • Clothing & Footwear
  • Beauty and Personal Care
  • Food & Grocery
  • Appliances and Electronics
  • Home Improvement
  • Others

Mexico Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028

  • B2B
  • B2C
  • C2C

Mexico Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028

  • Mobile
  • Desktop

Mexico Social Commerce Industry Market Size and Forecast by Location, 2019-2028

  • Domestic
  • Cross Border

Mexico Social Commerce Industry Market Size and Forecast by Location, 2019-2028

  • Tier-1 Cities
  • Tier-2 Cities
  • Tier-3 Cities

Mexico Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028

  • Credit Card
  • Debit Card
  • Bank Transfer
  • Prepaid Card
  • Digital & Mobile Wallet
  • Other Digital Payment
  • Cash

Mexico Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2021

  • By Age
  • By Income Level
  • By Gender

Reasons to buy

  • In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
  • Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate social commerce strategy; assess market specific key trends, drivers, and risks in the industry.

1 About this Report
1.1 Summary
1.2 Methodology
1.3 Social Commerce Definitions
1.4 Disclaimer
2 Mexico Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 Mexico Ecommerce - Gross Merchandise Value Trend Analysis, 2019-2028
2.2 Mexico Ecommerce - Average Value Per Transaction Trend Analysis, 2019-2028
2.3 Mexico Ecommerce - Transaction Volume Trend Analysis, 2019-2028
3 Mexico Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3.1 Mexico Social Commerce - Gross Merchandise Value Trend Analysis, 2019-2028
3.2 Mexico Social Commerce - Average Value Per Transaction Trend Analysis, 2019-2028
3.3 Mexico Social Commerce - Transaction Volume Trend Analysis, 2019-2028
4 Mexico Social Commerce Key Market Insight and Innovation
4.1 Mexico Social Commerce Key Trends and Drivers
4.2 Mexico Social Commerce Competitive Landscape and Growth Strategies
4.3 Mexico Social Commerce Market Share Analysis by Key Players
5 Mexico Social Commerce Industry Market Size and Forecast by Retail Product Categories
5.1 Mexico Social Commerce Market Share by Retail Product Categories (%), 2021 Vs. 2028
5.2 Mexico Social Commerce Clothing & Footwear - Gross Merchandise Value Trend Analysis, 2019-2028
5.3 Mexico Social Commerce Beauty and Personal Care - Gross Merchandise Value Trend Analysis, 2019-2028
5.4 Mexico Social Commerce Food & Grocery - Gross Merchandise Value Trend Analysis, 2019-2028
5.5 Mexico Social Commerce Appliances and Electronics - Gross Merchandise Value Trend Analysis, 2019-2028
5.6 Mexico Social Commerce Home Improvement - Gross Merchandise Value Trend Analysis, 2019-2028
5.7 Mexico Social Commerce Other - Gross Merchandise Value Trend Analysis, 2019-2028
6 Mexico Social Commerce Industry Market Size and Forecast by End Use Segment
6.1 Mexico Social Commerce Market Share by End Use Segment (%), 2021 Vs. 2028
6.2 Mexico Social Commerce B2B Segment - Gross Merchandise Value Trend Analysis, 2019-2028
6.3 Mexico Social Commerce B2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028
6.4 Mexico Social Commerce C2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028
7 Mexico Social Commerce Industry Market Size and Forecast by End Use Device
7.1 Mexico Social Commerce Market Share by End Use Device (%), 2021 Vs. 2028
7.2 Mexico Social Commerce by Mobile - Gross Merchandise Value Trend Analysis, 2019-2028
7.3 Mexico Social Commerce by Desktop - Gross Merchandise Value Trend Analysis, 2019-2028
8 Mexico Social Commerce Industry Market Size and Forecast by Location
8.1 Mexico Social Commerce Market Share by Location (%), 2021 Vs. 2028
8.2 Mexico Social Commerce by Cross Border - Gross Merchandise Value Trend Analysis, 2019-2028
8.3 Mexico Social Commerce by Domestic - Gross Merchandise Value Trend Analysis, 2019-2028
9 Mexico Social Commerce Industry Market Size and Forecast by Location
9.1 Mexico Social Commerce Market Share by Location (%), 2021 Vs. 2028
9.2 Mexico Social Commerce by Tier-1 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
9.3 Mexico Social Commerce by Tier-2 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
9.4 Mexico Social Commerce by Tier-3 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
10 Mexico Social Commerce Industry Market Size and Forecast by Payment Method
10.1 Mexico Social Commerce Market Share by Payment Method (%), 2021 Vs. 2028
10.2 Mexico Social Commerce Payment by Credit Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.3 Mexico Social Commerce Payment by Debit Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.4 Mexico Social Commerce Payment by Bank Transfer - Gross Merchandise Value Trend Analysis, 2019-2028
10.5 Mexico Social Commerce Payment by Prepaid Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.6 Mexico Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value Trend Analysis, 2019-2028
10.7 Mexico Social Commerce Payment by Other Digital Payment - Gross Merchandise Value Trend Analysis, 2019-2028
10.8 Mexico Social Commerce Payment by Cash - Gross Merchandise Value Trend Analysis, 2019-2028
11 Mexico Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behavior
11.1 Mexico Social Commerce Spend Share by Age Group, 2021
11.2 Mexico Social Commerce Share by Income Level, 2021
11.3 Mexico Social Commerce Share by Gender, 2021
12 Further Reading
12.1 About the Publisher

List of Figures

Figure 1: Methodology Framework
Figure 2: Mexico Ecommerce - Gross Merchandise Value (US$ Million), 2019-2028
Figure 3: Mexico Ecommerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 4: Mexico Ecommerce - Transaction Volume (Million), 2019-2028
Figure 5: Mexico Social Commerce - Gross Merchandise Value (US$ Million), 2019-2028
Figure 6: Mexico Social Commerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: Mexico Social Commerce - Transaction Volume (Million), 2019-2028
Figure 8: Mexico Social Commerce - Market Share Analysis by Key Players (%), 2021
Figure 9: Mexico Social Commerce Market Share by Retail Product Categories (%), 2021 Vs. 2028
Figure 10: Mexico Social Commerce Clothing & Footwear - Gross Merchandise Value (US$ Million), 2019-2028
Figure 11: Mexico Social Commerce Beauty and Personal Care - Gross Merchandise Value (US$ Million), 2019-2028
Figure 12: Mexico Social Commerce Food & Grocery - Gross Merchandise Value (US$ Million), 2019-2028
Figure 13: Mexico Social Commerce Appliances and Electronics - Gross Merchandise Value (US$ Million), 2019-2028
Figure 14: Mexico Social Commerce Home Improvement - Gross Merchandise Value (US$ Million), 2019-2028
Figure 15: Mexico Social Commerce Other - Gross Merchandise Value (US$ Million), 2019-2028
Figure 16: Mexico Social Commerce Market Share by End Use Segment (%), 2021 Vs. 2028
Figure 17: Mexico Social Commerce B2B Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 18: Mexico Social Commerce B2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 19: Mexico Social Commerce C2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 20: Mexico Social Commerce Market Share by End Use Device (%), 2021 Vs. 2028
Figure 21: Mexico Social Commerce by Mobile - Gross Merchandise Value (US$ Million), 2019-2028
Figure 22: Mexico Social Commerce by Desktop - Gross Merchandise Value (US$ Million), 2019-2028
Figure 23: Mexico Social Commerce Market Share by Location (%), 2021 Vs. 2028
Figure 24: Mexico Social Commerce by Cross Border - Gross Merchandise Value (US$ Million), 2019-2028
Figure 25: Mexico Social Commerce by Domestic - Gross Merchandise Value (US$ Million), 2019-2028
Figure 26: Mexico Social Commerce Market Share by Location (%), 2021 Vs. 2028
Figure 27: Mexico Social Commerce by Tier-1 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 28: Mexico Social Commerce by Tier-2 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 29: Mexico Social Commerce by Tier-3 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 30: Mexico Social Commerce Market Share by Payment Method (%), 2021 Vs. 2028
Figure 31: Mexico Social Commerce Payment by Credit Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 32: Mexico Social Commerce Payment by Debit Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 33: Mexico Social Commerce Payment by Bank Transfer - Gross Merchandise Value (US$ Million), 2019-2028
Figure 34: Mexico Social Commerce Payment by Prepaid Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 35: Mexico Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value (US$ Million), 2019-2028
Figure 36: Mexico Social Commerce Payment by Other Digital Payment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 37: Mexico Social Commerce Payment by Cash - Gross Merchandise Value (US$ Million), 2019-2028
Figure 38: Mexico Social Commerce Share by Age Group (%), 2021
Figure 39: Mexico Social Commerce Share by Income Level (%), 2021
Figure 40: Mexico Social Commerce Share by Gender (%), 2021

List of Tables

Table 1: Mexico Ecommerce - Gross Merchandise Value (US$ Million), 2019-2028
Table 2: Mexico Ecommerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: Mexico Ecommerce - Transaction Volume (Million), 2019-2028
Table 4: Mexico Social Commerce - Gross Merchandise Value (US$ Million), 2019-2028
Table 5: Mexico Social Commerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 6: Mexico Social Commerce - Transaction Volume (Million), 2019-2028
Table 7: Mexico Social Commerce Clothing & Footwear - Gross Merchandise Value (US$ Million), 2019-2028
Table 8: Mexico Social Commerce Beauty and Personal Care - Gross Merchandise Value (US$ Million), 2019-2028
Table 9: Mexico Social Commerce Food & Grocery - Gross Merchandise Value (US$ Million), 2019-2028
Table 10: Mexico Social Commerce Appliances and Electronics - Gross Merchandise Value (US$ Million), 2019-2028
Table 11: Mexico Social Commerce Home Improvement - Gross Merchandise Value (US$ Million), 2019-2028
Table 12: Mexico Social Commerce Other - Gross Merchandise Value (US$ Million), 2019-2028
Table 13: Mexico Social Commerce B2B Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 14: Mexico Social Commerce B2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 15: Mexico Social Commerce C2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 16: Mexico Social Commerce by Mobile - Gross Merchandise Value (US$ Million), 2019-2028
Table 17: Mexico Social Commerce by Desktop - Gross Merchandise Value (US$ Million), 2019-2028
Table 18: Mexico Social Commerce by Cross Border - Gross Merchandise Value (US$ Million), 2019-2028
Table 19: Mexico Social Commerce by Domestic - Gross Merchandise Value (US$ Million), 2019-2028
Table 20: Mexico Social Commerce by Tier-1 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 21: Mexico Social Commerce by Tier-2 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 22: Mexico Social Commerce by Tier-3 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 23: Mexico Social Commerce Payment by Credit Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 24: Mexico Social Commerce Payment by Debit Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 25: Mexico Social Commerce Payment by Bank Transfer - Gross Merchandise Value (US$ Million), 2019-2028
Table 26: Mexico Social Commerce Payment by Prepaid Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 27: Mexico Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value (US$ Million), 2019-2028
Table 28: Mexico Social Commerce Payment by Other Digital Payment - Gross Merchandise Value (US$ Million), 2019-2028
Table 29: Mexico Social Commerce Payment by Cash - Gross Merchandise Value (US$ Million), 2019-2028

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