Retail in Mexico Current Demand Behavior Analysis

Demand Behavior

Based on the analysis of the provided reports on the retail industry in Mexico, the current demand behavior is characterized by a large and growing base of both individual consumers (Business-to-Consumer, B2C) and business consumers (Business-to-Business, B2B).

The primary final customer segment is Business-to-Consumer (B2C), consisting of individual consumers purchasing goods and services for personal use. This segment is diverse, influenced by income levels, evolving preferences for seamless omnichannel experiences, personalization, and rapid delivery. The B2C customer base is actively adopting digital channels, as evidenced by the rapid growth of e-commerce in Mexico. Online sales reached USD 74 billion in 2023 and are projected to be around USD 100 billion in 2024, with forecasts suggesting continued strong growth to potentially USD 176.8 billion by 2026. This significant increase in online sales directly reflects a growing number of individual consumers engaging with the retail market through digital platforms.

The Business-to-Business (B2B) customer segment within the retail value chain primarily includes traditional retailers, particularly nanostores, which are small, independent businesses. As of 2024, there were 2,514,611 retail economic units in Mexico, providing a measure of the scale of this traditional B2B customer base. Additionally, sellers utilizing e-commerce platforms like Mercado Libre and Amazon represent another significant B2B segment, acting as customers of these platforms to reach end consumers. The growth in e-commerce activity suggests an increasing number of businesses, both large and small, are becoming B2B customers of these online marketplaces to expand their reach.

Evaluating the growth or decline in the number of customers indicates a clear upward trend for both segments overall. The total retail market in Mexico is projected for continued growth, with estimates suggesting a CAGR exceeding 5% from 2025 to 2030 and a 4.5% CAGR between 2023 and 2028. The retail trade sector's contribution to GDP also saw a significant increase of 10.5% in Q4 2024 compared to the previous year, and retail sales among ANTAD members grew by 7.1% in 2024. This overall market expansion is driven by an increasing volume of transactions, which in turn points to a growing number of active customers. While specific year-over-year growth data for the total number of traditional retail economic units (nanostores) is not explicitly provided as a single growing or declining figure in the text, the significant overall market growth, particularly in the context of physical retail expansion (nearly 800,000 sq meters of new shopping centers added in 2023 and 330,000 sq meters projected for 2024), suggests that the number of physical retail points serving B2C demand is stable or growing, even as e-commerce expands. The rapid growth in e-commerce volumes strongly indicates a substantial increase in the number of B2C customers utilizing online channels and a corresponding increase in the number of B2B sellers engaging with e-commerce platforms.

In summary, the number of customers in the Mexican retail market, encompassing both individual consumers and business consumers (traditional retailers and e-commerce sellers), is growing, driven by overall market expansion, increasing digital adoption by individuals, and the rise of businesses leveraging online platforms.

Customer Segment	Number of Customers (Indication based on 2024 data)	Growth or Decline Trend
Individual Consumers (B2C)	Large and diverse population of Mexico	Growing: Evidenced by overall retail market growth, significant e-commerce expansion (USD 74bn in 2023 to ~USD 100bn in 2024, projected to USD 176.8bn by 2026).
Business Consumers (B2B)	Over 2.5 million retail economic units (2024) plus sellers on e-commerce platforms	Growing: Supported by overall retail market growth, increase in retail economic units in 2024, and the rapid growth in e-commerce volume implying more sellers.

References

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