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New figures released by eMarketer show some robust projections for the B2C e-commerce market in Mexico. Compiled in October 2011, the figures show Mexico’s B2C e-commerce sales growing by 32% in 2011 and projected growth of 25.8% in 2012. This figure is similar to the projection made by the Asociación Mexicana de Internet (AMIPCI), which forecast growth of 28 percent in e-commerce for Mexico in 2012.
According to eMarketer, travel purchases are what mostly drives Mexican B2C e-commerce, while AMIPCI research from 2010 identified a different range of favored products for Mexico’s online shoppers, such as computers, cell phones and consumer electronics.
One challenge with Mexican e-commerce has been the country’s relatively low credit card penetration rate. However, some new payment options are helping consumers buy online even if they don’t have credit cards. One new way is a system called BanWire. Users buy a product online, print a payment voucher and pay for the product in person at a convenience store like Oxxo. This is similar if not identical to Brazil’s boletos bancários, which have been helpful in boosting that country’s e-commerce sales. In addition, eMarketer indicated that PayPal Mexico will develop a version of its service to handle payments through mobile phones. This could also help Mexico’s online shoppers make purchases without credit cards.
Given these developments, eMarketer has forecasted 20.7% compound annual growth for Mexico’s B2C e-commerce market between 2010 and 2015.
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