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Mexican e-commerce industry is on the rise

The main obstacle for e-commerce in Mexico is distrust or fear of fraud

Mexican e-commerce industry is on the rise
E-Commerce was grown in Mexico in the last years - Photo: Ken James/EL UNIVERSAL
English 07/10/2018 12:07 Notimex Mexico City Actualizada 12:08

From 2012 to 2018, Mexico's electronic commerce has grown considerably, with USD $13 thousand 700 million in 2015 and 2016, according to data from the Trends Report in Means of Payment 2017.

The company Blacksip, dedicated to consulting and digital services expert in electronic commerce, presented the first Industry Report: The e-Commerce in Mexico 2018-2019, during the e-commerce Summit & Expo held in the country.

According to the analysis, the region's total purchases in retail for the following year are expected to reach over USD $79 billion.

BlackSip Mexico's manager, Juan Fernando Velez, explained that Mexico is a digital country with an Internet penetration rate of 63%.

"Mexico outperforms markets such as Brazil and Colombia, and the growth projections are very encouraging because by 2021 an inclusion of 71.9% in the industry is estimated," he added.

He explained that the Mexico e-Commerce Insight 2018-2019 reveals the Generation Z and Millennials are driving the digital economy in the country, and as time passes, the Mexican population is relying more and more on electronic commerce.

"If we look at e-commerce figures from eight years ago and compare them with the current ones, the growth has been exponential, because, in 2009 and 2010, Mexico was billing MXN $36,000 million," Velez said.

Within the report, Blacksip also mentioned that a study conducted by AMVO and Netquest explains that 80% of Mexican Internet users surveyed have made at least one online purchase during the last year, with digital content services and subscriptions being the most purchased categories.

On the other hand, people who still don't make purchases online are afraid of electronic fraud, and the preference to buy in physical stores are the main barriers for e-commerce in Mexico.
 

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