Mexico's E-Commerce Is Not Concerned About Inflation

09/08/2022

The electronic commerce (ecommerce) in México and Latin América doesn't feel pressure for the inflationary context that the country and region are going through, this was confirmed to El Economista by members of the industry which in 2020 showed an annual  growth of 80% and 27% in 2021 in the country.

While orders of the animal and beverage categories have increased a 300% in México in the first semester of 2022, in Latin America is increasing a 228% in the same period, even though the latinamerican average ticket price is of 46 dollars and in mexican territory it is 15 dollars, according to a report from VTEX.

In the case of pet products sales, there's been a growth of 70% in México the fisrt six months this year, with an average price of 49 dollars, while in the region, ordenes have increased a 64%, with a price of 37 dollars. The same occurs in the case of online sales on electronic devices that in Mexico showed a growth of 92%, with an average price of 362 dollars, and in Latin America a 30%, with a value of 315 dollars.

With an environment of annual inflation that exceeds 8% in Mexico and 12% in Latin America, according to the International Monetary Fund (IMF), Santiago Naranjo, Director of Revenue at VTEX, observes that although consumption will continue, those steps in the chain of electronic commerce that do not provide a clear value to the final consumer will begin to disappear because users are being more cautious in their purchases.

Those intermediaries who are only there because they have a contact or because they have a warehouse and believe that they are going to be able to raise 20 or 30% of the product are not going to sustain themselves. Consumption continues, what happens is that the consumer is being more careful about what he buys and how he buys it”, he said.

VTEX is a Brazilian company that offers e-commerce solutions to large companies, such as Walmart, Coca-Cola, Samsung and Nestlé. In the case of Mexico, it provides services to stores such as Chedraui, Nadro and Elektra. During the second half of 2022, the company expects a growth in total global sales made through its platform of 27.1% to reach 3,100 million dollars.

Latinoamérica es la región en donde el ecommerce creció más a nivel global en 2021, con 35%, y México es el noveno país en el que las ventas en línea crecerán más durante el 2022, después de países como Singapur, Indonesia, India, Argentina y Tailandia, pero por encima de Brasil, el mayor mercado en América Latina, de acuerdo con datos de la consultora eMarketer.

Mientras que en 2022, 12.4% de las ventas minoristas en México se harán vía comercio electrónico, para 2026 estás cifras representarán 16.5%, con lo que México superará a Argentina y a todos los países de la región, con excepción de Brasil.