Mexico‘s e-commerce grew at a year-on-year rate of 20% in 2024, to US$789.7 billion.

These sales refer to the market value of online retail sales in Mexico and were estimated by the Mexican Association of Online Sales (AMVO).

In dollar terms, this value is equivalent to US$43.1 billion, an increase of 16.3% over 2023.

Mexico’s e-commerce

In Mexico, the online channel accounted for 15.8% of retail trade in 2024.

The global e-commerce market has grown rapidly over the last 15 years. This progress is due, in large part, to the acceleration of its penetration in the retail sector.

According to VTEX, the Covid-19 pandemic further boosted e-commerce adoption in Mexico and the world. During this period, many physical stores closed, and consumers increased their online shopping. As a result, e-commerce experienced unprecedented growth, fueling the expansion of many companies.

Below is the market value of Mexico’s online retail sales, in billions of pesos:

• 2019: 184.
• 2020: 333.
• 2021: 429.
• 2022: 528.
• 2023: 658.
• 2024: 790.

More than 67.2 million Mexicans compared some product or service online during 2024, according to AMVO.

Latin American market

VTEX said that online commerce will continue to grow in Latin America. As consumers migrate their purchases to digital platforms, brands and retailers will have to adapt to their new preferences, which will further drive the expansion of the sector.

Although e-commerce in Latin America is growing fast, it still represents a small share of the retail market. 

According to Insider Intelligence, the region will reach $179.9 billion in 2024, up 11.5% from 2023. This makes Latin America one of the fastest-growing regions globally.

However, its share of retail sales remains low. It currently accounts for only 10.7 percent of the total, which is seven years behind the global penetration of 20.1 percent.