Retail Market in Mexico Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Apr 2022 Pages: 120 SKU: IRTNTR72051

Retail Market in Mexico Forecast 2022-2026

The retail market share in Mexico is expected to increase by USD 97.29 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.48%.

The retail market vendors in Mexico are - including Coppel SA de CV, Costco wholesale corp, El Puerto de Liverpool, Grupo Carso SAB de CV, Grupo Comercial Chedraui SAB de CV, Heineken NV, La Comer SAB de CV, MercadoLibre S de RL de CV, Tiendas Soriana SA de CV, and Walmart Inc. among others.

What will the Retail Market Size in Mexico be During the Forecast Period?

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Market: Key Drivers, Trends, and Challenges

The influx of numerous retail stores is notably driving the retail market growth in Mexico, although factors such as issues related to logistics and supply chain operations may impede the market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

  • One of the key factors driving growth in the market is the influx of numerous retail stores.
  • Retailers operating in the country are focusing on expanding their outlets across the country to boost penetration by enhancing brand visibility and outreach.
  • With the noteworthy increase in the middle-class population over the past decade, vendors are also emphasizing non-urban locales to target untapped potential markets.
  • For instance, in December 2021, Dollar General opened its store in Mexico, along with Goodlettsville, Tenn.-based retailer, and is aiming to open ten stores in the country by the end of 2022.
  • The momentous expansions of retail stores by prominent vendors will foster the growth of the country's retail market.

Major Market Trend 

  • Innovative packaging and marketing initiatives by prominent vendors is a retail market trend in Mexico. 
  • Prominent players are creating various marketing initiatives to differentiate their products, owing to the hyper-competitive environment in the market.
  • The key initiatives implemented by retailers in recent times include innovative packaging, online campaigns and contests, blogging, social media awareness programs, and celebrity endorsements.
  • As packaging is perceived as the silent salesman, prominent retailers in the market are investing substantially in terms of product differentiation and enticing consumers by resorting to appealing and innovative packaging strategies.
  • Therefore, such creative initiatives employed by prominent retailers are expected to drive the market during the forecast period.

Significant Market Challenge

  • The issues related to logistics and supply chain operations will be a major challenge for the retail market in Mexico during the forecast period. 
  • Managing multiple tasks related to transportation and supply along with the risk of product damage constitutes a strenuous process, particularly when it concerns retailers with multiple retail stores across the country.
  • The outbreak of COVID-19 negatively affected the supply chain of several products in the country and also led to changes in the policies, which disrupted the supply chain of the retail market in Mexico.
  • The factors mentioned above will reduce the net profits of competitors to affect the overall market revenue during the forecast period.

This retail market in Mexico analysis report also provides detailed information on other market growth and trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Retail Market Companies in Mexico?

The market report analyzes the market's competitive landscape and offers information on several market players, including:

  • Coppel SA de CV
  • Costco wholesale corp
  • El Puerto de Liverpool
  • Grupo Carso SAB de CV
  • Grupo Comercial Chedraui SAB de CV
  • Heineken NV
  • La Comer SAB de CV
  • MercadoLibre S de RL de CV
  • Tiendas Soriana SA de CV
  • Walmart Inc.

This statistical study of the market in Mexico encompasses successful business strategies deployed by the key vendors. The retail market in Mexico is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Tiendas Soriana SA de CV - The company offers an extensive and complete line of food, clothing, general merchandise, health products and basic services, satisfying diverse customer needs through its retail store. Under the unified segment the company offers a wide range of brands such as Quality Day, Valley Foods, and many more.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Product Segments in the Retail Market in Mexico?

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The retail market share growth in Mexico by the PAT segment will be significant during the forecast period. Packaged food and drinks, alcoholic beverages, and tobacco products segment in Mexico are experiencing growth due to an upward trend in the prices of commodities, and an increase in the purchasing power of people in regions such as Baja California and Mexico City has fueled the demand for packaged food and drinks. Also, Mexico is experiencing an increasing interest in consumers in imported goods, especially processed foods, which is expected to witness the highest growth rate during the forecast period. 

Market Analyst Overview

The Market is influenced by various factors, including economic trends, socio-demographic shifts, and evolving business models. In Mexico, consumers are increasingly favoring modern format retail stores over traditional 'changarros,' leading to the growth of multinational franchises like Starbucks and Farmacias Similares. Digital platforms play a crucial role, with companies focusing on enhancing the website experience and implementing direct-to-consumer operations. Last-mile delivery services are becoming more important, with social media platforms like Instagram, Facebook, and WhatsApp being used to engage with customers.

Disposable income and retail growth are driving consumer spending, particularly in beauty products and established brands. While larger cities tend to have more retail outlets, traditional trade remains strong in smaller cities. The retailing industry in Mexico is fragmented, with traditional formats coexisting alongside small independent retailers. Developed economies often have well-established retail sectors, while developing economies are experiencing rapid growth, especially in shopping destinations popular with visitors. Fashion, apparel, and electronics are key sectors experiencing category growth.

E-commerce is a growing trend, driven by smartphone penetration and the availability of internet services. Suppliers are adapting to consumers' buying behavior, with online fresh groceries sales and prepared food delivery companies seeing growth. In the global economy, retail chains are affected by government policies and Foreign Direct Investment (FDI) regulations, leading to increased competition. The tourism sector also influences the retail market, particularly in the luxury hotel sector, which relies on international air connectivity and transport infrastructure. Key players in the organized retail market include hypermarkets, supermarkets, and retail chains, with economic cycles impacting both e-commerce businesses and brick-and-mortar stores.

Retail Market Scope in Mexico

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.48%

Market growth 2022-2026

USD 97.29 billion

Market structure

Fragmented

YoY growth (%)

4.42

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Coppel SA de CV, Costco wholesale corp, El Puerto de Liverpool, Grupo Carso SAB de CV, Grupo Comercial Chedraui SAB de CV, Heineken NV, La Comer SAB de CV, MercadoLibre S de RL de CV, Tiendas Soriana SA de CV, and Walmart Inc.

Market dynamics

Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period

Customization purview

If our market research report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

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What are the Key Data Covered in this Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2022 and 2026
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                        

***2. Market Landscape                          

              **2.1 Market ecosystem            

                             *2.1.1   Parent market

                             *Exhibit 01:  Parent market

              **2.2 Market characterstics       

                             *Exhibit 02: Market Characterstics

              **2.3 Value Chain Analysis         

                             *Exhibit 03:  Value Chain Analysis: Internet and Direct Market Retail

                             *2.3.1   Inputs

                             *2.3.2   Inbound logistics

                             *2.3.3   Operations

                             *2.3.4   Outbound logistics

                             *2.3.5   Marketing and sales

                             *2.2.6   Service

                             *2.2.7   Support activities

                             *2.2.8   Innovation

***3. Market Sizing                      

              **3.1 Market definition

                             *Exhibit 04:  Offerings of vendors included in the market definition

              **3.2 Market segment analysis 

                             *Exhibit 05:  Market segments

              **3.3 Market size 2019 

              **3.4 Market outlook: Forecast for 2019 - 2024 

                             *Exhibit 06:  Global - Market size and forecast 2021 - 2026 ($ million)

                             *Exhibit 07:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                        

              **4.1 Five Forces Summary       

                             *Exhibit 08:  Five forces analysis 2021 & 2026

              **4.2 Bargaining power of buyers          

                             *Exhibit 09: Bargaining power of the buyer

              **4.3 Bargaining power of suppliers      

                             *Exhibit 10: Bargaining power of the supplier

              **4.4 Threat of new entrants    

                             *Exhibit 11: Threat of new entrants

              **4.5 Threat of substitutes        

                             *Exhibit 12: Threat of substitutes

              **4.6 Threat of rivalry  

                             *Exhibit 13: Threat of rivalry

              **4.7 Market condition

                             *Exhibit 14: Market condition - Five forces 2021

***5. Market Segmentation by Product

  **5.1 Market segments

                             *Exhibit 15:  Product- Market share 2021-2026 (%)

              **5.2 Comparison by Product    

                             *Exhibit 16:  Comparison by Product

              **5.3 PAT - Market size and forecast 2021-2026

                             *Exhibit 17:  PAT - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 18:  PAT - Year-over-year growth 2021-2026 (%)

              **5.4 Personal and household care - Market size and forecast 2021-2026         

                             *Exhibit 19:  Personal and household care - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 20:  Personal and household care - Year-over-year growth 2021-2026 (%)

              **5.5 AFA - Market size and forecast 2021-2026

                             *Exhibit 21:  AFA - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 22:  AFA - Year-over-year growth 2021-2026 (%)

              **5.6 Electrical and electronics - Market size and forecast 2021-2026     

                             *Exhibit 23:  Electrical and electronics - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 24:  Electrical and electronics - Year-over-year growth 2021-2026 (%)

              **5.7 Others - Market size and forecast 2021-2026         

                             *Exhibit 25:  Others - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 26:  Others - Year-over-year growth 2021-2026 (%)

              **5.8 Market opportunity by Product    

                             *Exhibit 27:   Market opportunity by  Product

***6. Market Segmentation by Distribution channel                    

              **6.1 Market segments

                             *Exhibit 28:  Distribution channel- Market share 2021-2026 (%)

              **6.2 Comparison by Distribution channel          

                             *Exhibit 29:  Comparison by Distribution channel

              **6.3 Offline  - Market size and forecast 2021-2026        

                             *Exhibit 30:  Offline  - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 31:  Offline  - Year-over-year growth 2021-2026 (%)

              **6.4 Online - Market size and forecast 2021-2026          

                             *Exhibit 32:  Online - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 33:  Online - Year-over-year growth 2021-2026 (%)

              **6.5  Market opportunity by Distribution channel         

                             *Exhibit 34:   Market opportunity by Distribution channel

***7. Customer landscape                       

                             *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                             *Exhibit 35:  Customer landscape

***8. Drivers, Challenges, and Trends                 

              **8.1 Market Driver      

                             *8.1.1   Influx of numerous retail stores

                             *8.1.2   Rising demand for convenience food products

                             *8.1.3   Growing popularity of private-label brands

              **8.2 Market challenges             

                             *8.2.1   Issues related to logistics and supply chain operations

                             *8.2.2   Threat from counterfeit products

                             *8.2.3   Trade risks associated with the retail industry

                             *Exhibit 36:  Impact of drivers and challenges

              **8.3 Market trends     

                             *8.3.1   Innovative packaging and marketing initiatives by prominent vendors

                             *8.3.2   Surge in sales through online distribution channels

                             *8.3.3   Growing per capita income of the country

***9. Vendor Landscape                           

                             *Exhibit 37:  Vendor landscape

              **9.2 Landscape disruption       

                             *Exhibit 38: Landscape disruption

                             *Exhibit 39: Industry Risk

***10. Vendor Analysis              

              **10.1 Vendors covered             

                             *Exhibit 40: Vendors covered

              **10.2 Market positioning of vendors   

                             *Exhibit 41: Market positioning of vendors

              **10.3 Coppel SA de CV

                             *Exhibit 42:  Coppel SA de CV - Overview

                             *Exhibit 43:  Coppel SA de CV - Product and service

                             *Exhibit 44:  Coppel SA de CV - Key News

                             *Exhibit 45:  Coppel SA de CV - Key offerings

              **10.4 Costco wholesale corp.

                             *Exhibit 46:  Costco wholesale corp. - Overview

                             *Exhibit 47:  Costco wholesale corp. - Business segments

                             *Exhibit 48:  Costco wholesale corp - Key offerings

                 *Exhibit 49:  Costco wholesale corp. - Segment focus

              **10.5 El Puerto de Liverpool    

                             *Exhibit 50:  El Puerto de Liverpool - Overview

                             *Exhibit 51:  El Puerto de Liverpool - Business segments

                             *Exhibit 52:  El Puerto de Liverpool - Key offerings

              **10.6 Grupo Carso SAB de CV

                             *Exhibit 53:  Grupo Carso SAB de CV - Overview

                             *Exhibit 54:  Grupo Carso SAB de CV - Business segments

                             *Exhibit 55:  Grupo Carso SAB de CV - Key offerings

                             *Exhibit 56:  Grupo Carso SAB de CV - Segment focus

              **10.7 Grupo Comercial Chedraui SAB de CV

                             *Exhibit 57:  Grupo Comercial Chedraui SAB de CV - Overview

                             *Exhibit 58:  Grupo Comercial Chedraui SAB de CV - Business segments

                             *Exhibit 59:  Grupo Comercial Chedraui SAB de CV - Key offerings

                             *Exhibit 60:  Grupo Comercial Chedraui SAB de CV - Segment focus

              **10.8 Heineken NV

                             *Exhibit 61:  Heineken NV - Overview

                             *Exhibit 62:  Heineken NV - Business segments

                             *Exhibit 63:  Heineken NV - Key offerings

                             *Exhibit 64:  Heineken NV - Segment focus

              **10.9 La Comer SAB de CV             

                             *Exhibit 65:  La Comer SAB de CV - Overview

                             *Exhibit 66:  La Comer SAB de CV - Product and service

                             *Exhibit 67:  La Comer SAB de CV - Key offerings

              **10.10 MercadoLibre S de RL de CV           

                             *Exhibit 68:  MercadoLibre S de RL de CV - Overview

                             *Exhibit 69:  MercadoLibre S de RL de CV - Product and service

                             *Exhibit 70:  MercadoLibre S de RL de CV - Key offerings

              **10.11 Tiendas Soriana SA de CV           

                             * Exhibit 71:  Tiendas Soriana SA de CV - Overview

                             *Exhibit 72:  Tiendas Soriana SA de CV - Business segments

                             *Exhibit 73:  Tiendas Soriana SA de CV - Key offerings

                             *Exhibit 74:  Tiendas Soriana SA de CV - Segment focus

              **10.12 Walmart Inc.   

                             *Exhibit 75:  Walmart Inc. – Overview

                 *Exhibit 76:  Walmart Inc. - Business segments

                             *Exhibit 77:  Walmart Inc. - Key offerings

                             *Exhibit 78:  Walmart Inc. - Segment focus

 

***11. Appendix                          

              **11.1 Scope of the report        

                             *11.1.1 Market definition

                             *11.1.2 Objectives

                             *11.1.3 Notes and caveats

              **11.2 Currency conversion rates for US$           

                             *Exhibit 74: Currency conversion rates for US$

              **11.3 Research Methodology  

                             *Exhibit 75: Research Methodology

                             *Exhibit 76: Validation techniques employed for market sizing

                             *Exhibit 77: Information sources

              **11.4 List of abbreviations       

                             *Exhibit 78: List of abbreviations

 

 

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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