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Market Overview
The Mexican retail sector is projected to witness a CAGR of 6.7% by 2024. The market is segmented by product category, distribution channel, and market dynamics.
Mexico stands out as one of the key markets, and is doing so through sustained evolution and slow but steady growth in many dimensions.
The retail and consumer sector is one industry that has the potential to exceed Mexico's average national future growth. This will be driven by a combination of economic and socio-demographic trends, offerings, and business models to appeal to Mexican consumers.
The retail and consumer sector reflects the opportunities emerging from the duality of the Mexican economy, better than any other sector.
Modern format retail stores and multinational franchises, such as Walmart and Starbucks, are constantly growing and developing, alongside the resilient traditional changarros' and adapted concepts, such as OXXO and Farmacias Similares.
Scope of the Report
A complete background analysis of the Mexican retail sector, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report.
Key Market Trends
High Disposable Income and High Retail Growth
Despite a complex social situation in which criminal undertones color everyday life, Mexico's recent economic upturn has generated a sense of optimism among consumers.
With disposable incomes rising, Mexicans are more willing to invest in themselves, be it on clothing, health, or beauty products. Mexican consumers are spending most of their money across a smaller number of categories, and are looking to turn their aspirations of success into reality by spending more on beauty and personal care products. In Mexican culture, well-known, established brands are seen as reliable and trustworthy.
Many in-country retailers are set to continue their expansion, targeting smaller cities with the potential to grow, due to a lower presence of retail outlets per inhabitant.
From 2012-2016, the average growth of traditional trade has been increasing from 5%-10%, representing a higher percentage of sales and a growing trend in the retailing industry.
Mexico has a fragmented and competitive environment due to the relevance of traditional formats and small independent retailers across all channels.
Leading players are set to increase their geographical footprints throughout the country, by increasing the number of operating outlets.
High Growth of Apparel and Accessories in Mexico
The Mexican fashion industry reached its highest production levels by the mid of 2018, even under challenging circumstances, with 50 of the most internationally renowned brands selling in the country. The challenge is to maintain or expand this production.
Revenue in the apparel market is expected to grow annually at 7.1% by 2024.
In the apparels sector, the women's and girls' apparels segment holds the largest share.
The expansion of the middle class, with young working consumers who follow trends and growth of cities, is contributing to the increasing number of shopping centers. Mexicans like to spend their free time at shopping centers, regardless of their social status.
Over the last couple of years of the review period, the apparel and footwear industry saw the entrance of international brands. Fast-fashion stood to be a critical factor behind this change.
E-commerce in Mexico is booming, bringing new growth opportunities for the consumer goods and retail industries.
Competitive Landscape
The report covers major international players operating in the Mexican retail sector. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence, by securing new contracts and by tapping new markets.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The Mexican retail sector is projected to witness a CAGR of 6.7% by 2024. The market is segmented by product category, distribution channel, and market dynamics.
Mexico stands out as one of the key markets, and is doing so through sustained evolution and slow but steady growth in many dimensions.
The retail and consumer sector is one industry that has the potential to exceed Mexico's average national future growth. This will be driven by a combination of economic and socio-demographic trends, offerings, and business models to appeal to Mexican consumers.
The retail and consumer sector reflects the opportunities emerging from the duality of the Mexican economy, better than any other sector.
Modern format retail stores and multinational franchises, such as Walmart and Starbucks, are constantly growing and developing, alongside the resilient traditional changarros' and adapted concepts, such as OXXO and Farmacias Similares.
Scope of the Report
A complete background analysis of the Mexican retail sector, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report.
Key Market Trends
High Disposable Income and High Retail Growth
Despite a complex social situation in which criminal undertones color everyday life, Mexico's recent economic upturn has generated a sense of optimism among consumers.
With disposable incomes rising, Mexicans are more willing to invest in themselves, be it on clothing, health, or beauty products. Mexican consumers are spending most of their money across a smaller number of categories, and are looking to turn their aspirations of success into reality by spending more on beauty and personal care products. In Mexican culture, well-known, established brands are seen as reliable and trustworthy.
Many in-country retailers are set to continue their expansion, targeting smaller cities with the potential to grow, due to a lower presence of retail outlets per inhabitant.
From 2012-2016, the average growth of traditional trade has been increasing from 5%-10%, representing a higher percentage of sales and a growing trend in the retailing industry.
Mexico has a fragmented and competitive environment due to the relevance of traditional formats and small independent retailers across all channels.
Leading players are set to increase their geographical footprints throughout the country, by increasing the number of operating outlets.
High Growth of Apparel and Accessories in Mexico
The Mexican fashion industry reached its highest production levels by the mid of 2018, even under challenging circumstances, with 50 of the most internationally renowned brands selling in the country. The challenge is to maintain or expand this production.
Revenue in the apparel market is expected to grow annually at 7.1% by 2024.
In the apparels sector, the women's and girls' apparels segment holds the largest share.
The expansion of the middle class, with young working consumers who follow trends and growth of cities, is contributing to the increasing number of shopping centers. Mexicans like to spend their free time at shopping centers, regardless of their social status.
Over the last couple of years of the review period, the apparel and footwear industry saw the entrance of international brands. Fast-fashion stood to be a critical factor behind this change.
E-commerce in Mexico is booming, bringing new growth opportunities for the consumer goods and retail industries.
Competitive Landscape
The report covers major international players operating in the Mexican retail sector. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence, by securing new contracts and by tapping new markets.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
