News Americas, NEW YORK, NY., Fri. July 10, 2020: Latin America is the world’s second-fastest-growing E-commerce market.
It is one of the friendliest mobile and Internet friendly regions in the world. This has been highly contributed to by the rising rates of internet connectivity and mobile adaptation among Latin Americans.
Despite the high economic disruptions associated with COVID-19, online vendors are holding up well after a steady shift in consumer shopping habits.
According to the third report on the impacts of Covid-19 in Online Sales in Mexico, the basic needs necessities drove the most interest in online shopping. As most stores closed, it is natural that the E-Commerce business would perform well in markets like Brazil, Mexico, Chile, and other Latin American countries.
How New E-Commerce Buyers Emerged
A while back in Mexico, E-Commerce made up 2% of the total GDP and had very few people shopping online. Only about 1 out of 4 people used to buy products using online services.
When the first cases of coronavirus were reported countries restricted movements and encouraged social isolation measures. The lockdown measures made a hot bet for E-Commerce to expand across the globe and Mexico was no exception.
People feel safe to shop online because they are avoiding crowds and receiving their purchases while at home. The findings at the Mexican Association of Online Sales indicated that food delivery and fashion products drew the highest percentage of new buyers while internet banking and bill payments attracted other newcomers.
During this lockdown, all the major ecommerce categories like food, water, electricity, and gas attracted a major part of new buyers. At the beginning of the pandemic basic commodities were the ones generating more interest to buy online but after three months categories like fashion, accessories, and technology gained relevance.
E-commerce businesses in Mexico are also attracting new customers using social promotions to sell directly to the customers. For example, Mr. Bet casino is luring bettors to sign up and win Mr. Bet casino bonus thus attracting new customers to their casino.
Mexico E-commerce Future Trends
Even though most Mexicans are on the fear of losing their source of income during this pandemic, online shopping is becoming increasingly important.
With plenty of room for growth, the E-Commerce business in Mexico is expected to expand at 25% annually through 2021. The growth will be supported by the growing population connected to mobile solutions and digital payment solutions.
