Mexico’s retail e-commerce market reached MX$789.7 billion (US$39 billion) in 2024, representing a 20% increase over the MX$658 billion recorded in 2023, according to AMVO. This marks six straight years of strong double-digit growth. Online shopping penetration climbed to 84%, surpassing countries like India (63%) and the global average (60%). More than 67 million consumers made at least one online purchase in the last year, with 60% shopping monthly.

Looking ahead, e-commerce is projected to grow approximately 24% from 2024 to 2027, reaching US$184 billion. This growth is fueled by widespread smartphone use and fintech solutions, including cash-based payment methods like OXXO vouchers, which account for 26% of online transactions, per ANTAD.

However, Patrick Lassauzet, Head of PR and Corporate Communications, SHEIN, points out that “consumers are not acting as the traditional model would predict, where purchases are seamless and direct through digital channels.” He adds, “Trust remains fragile, purchasing power is constrained, and external economic pressures are undermining consumer confidence in online shopping.”

Inflation data released by INEGI showed that Mexico’s annual inflation rate held steady at 4.42% in May, a six-month high matching April’s rate and the highest since November 2023 (4.55%). This exceeded forecasts of 4.37%, based on a Citi survey of financial institutions.

source: Trading Economics

This disconnect between official inflation figures and consumer perception—sometimes called “perception inflation”—stems from ongoing media focus on tariffs, volatile food and fuel prices, and the persistent narrative of rising living costs, explains Lassauzet.

Mexico’s e‑commerce success has largely been driven by wide product selection, convenience, and competitive pricing. Yet, recent macroeconomic challenges—tariffs, supply chain disruptions, and logistical strains—have chipped away at these advantages. As formal platforms adjust prices upward, consumers’ trust diminishes, pushing many toward informal channels like social media marketplaces, street vendors, and WhatsApp groups.

INEGI data reveals that 60% of Mexicans still make at least one major purchase monthly through informal commerce. Among online shoppers, many seek what they perceive as lower-cost, less regulated buying options.

New tariff enforcement and stricter customs inspections targeting import splits have affected platforms such as Shein and Temu. Although these policies aim to protect local businesses, they risk increasing costs and friction within formal e-commerce channels. Striking the right balance between fair competition and consumer trust remains a key challenge.

Mobile devices now account for over two-thirds of all e-commerce purchases. Leading platforms including Amazon, MercadoLibre, and Walmart are boosting investments in technology and payment infrastructure. MercadoLibre, for instance, announced a US$3.4 billion investment for 2025 focused on these areas.