Shopping payment method update! Amazon continues to promote the development of e-commerce in Mexico

Recently, Amazon launched a variety of payment methods to promote the development of the digital delivery market in Mexico, including OXXO offline payment methods and Amazon gift card payment.

OXXO payment is one of the most popular payment methods in Mexico. Through this payment method, consumers can purchase goods online and then go to OXXO convenience stores to complete the payment with the receipt.

Although online and offline payment methods like OXXO are popular among local people, they have also led to a low digital bank ownership rate among Mexican consumers, further slowing down the development of Mexico's online delivery market and hindering the development of e-commerce.

The multiple payment methods updated by Amazon in Mexico not only facilitate payment for buyers and cater to local buyers, but also help promote the development of local e-commerce and help more companies expand their online business. David Miller, general manager of Amazon Mexico, also said that Amazon has a responsibility to provide customers with payment methods that they are interested in.

Mexico is the second largest economy in Latin America and the second largest trading partner of the United States. It has 85 million Internet users, with a penetration rate of 65%. There are 81 million local mobile Internet users, with a penetration rate of 62%. With a large young population base and a high penetration rate of mobile Internet , it is called "a country full of opportunities" by sellers.

According to the Mexican Online Sales Association (AMVO), e-commerce sales in Mexico accounted for 9% of total retail sales in 2020, with online transactions reaching 316 billion pesos. It is expected that by 2025, e-commerce sales in Mexico will increase by 99%, and the speed of e-commerce development is rapid.

Since the main consumer group of Mexican e-commerce platforms is between 18 and 34 years old, young people account for the largest proportion. Therefore, clothing accessories and electronic products are still popular in Mexico.

Among all online shoppers in Mexico, nearly two-thirds have made cross-border purchases. Among them, Chinese brands are highly accepted by Mexican consumers. This is also a good opportunity for Chinese sellers to enter Mexican e-commerce platforms.

Mercado Libre is the most visited e-commerce platform by Mexican consumers, with more than 108.5 million visits per month. In addition, the product categories that can be sold on the platform are wide-ranging, including electronics, home appliances, cars and accessories, fashion, toys and furniture, and even personal assets.

At present, Mexican e-commerce is still in a stage of continuous upward development. Constantly updating local payment methods can also promote the development of the local e-commerce market.

Mexico

E-commerce