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E-commerce shows 5% growth in Mexico

Both the “Z” and “Millennial” generations are boosting the growth of digital economy in Mexico
E-commerce shows 5% growth in Mexico
Global e-commerce was valued in 7.7 billion dollars in 2017 - Photo: File photo/EL UNIVERSAL
24/10/2018
19:39
Notimex
Mexico City
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Electronic commerce in Mexico now has 82.5 million users, which represents a 5% increase in comparison with 2017. Projections indicate that the number will grow to 92.2 million in 2021, with a penetration of 71.9% in the population, according to the digital marketing company Contenido 2.0.

Although global e-commerce was valued in 7.7 billion dollars in 2017, it is estimated to reach figures of up to 1.2 billion dollars in the United States alone by the year 2021, with an annual growth rate of 7.4%.

In a press release, the company stated that China ranked first in B2B transactions in the Asian market, with a value of 2.6 billion dollars in 2017 and 1.19 billion in the market between companies and small traders (B2C).

A document called “Industry Report: E-Commerce in Mexico 2018/2019” published by the consulting firm Blacksip, reported that Mexican companies now have a unique opportunity to implement, transform, and optimize digital structures to reap the benefits of e-commerce growth and financial activities known as “B2B” (Business to Business).

Electric and electronic industry goods, including vehicle parts, supplies, and machinery, as well as pharmaceutical services and products, are expected to grow the most in B2B e-commerce in 2021.

The firm added that some of the most common benefits of B2B e-commerce in large industries were higher efficiency in purchase orders and a faster processing of product orders.

The company spokesman also added that both the “Z” and “Millennial” generations were boosting the growth of digital economy. A report issued by Google indicated that these generations represent more than 60 percent of the Mexican population, with an internet penetration rate of 83% in the case of the Z generation and 70% among millennials.

Likewise, many companies’ purchasing habits have changed due to the impact of young executives in the job market.
 

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