Mexico Retail Sector Market 2023-2030

Mexico Retail Sector Market 2023-2030

Mexico retail sector market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period. 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 hinder the market growth. 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.

Segmental Outlook

The Mexico retail sector market is segmented based on the product, and distribution channel. Based on the product, the market is segmented into food, beverages, tobacco, personal and household care, apparel, footwear, accessories, furniture, toys, industrial and automotive, electronic and household appliances and others. Further, on the basis of distribution channel, the market is sub-segmented into hypermarkets and supermarkets, convenience stores and department stores, specialty stores, online and others. Among the product segment, the apparel sub-segment is expected to cater prominent market share over the forecast period owing to high growth in Mexico.

The Apparel Sub-Segment is Anticipated to Hold Prominent Share in the Mexico Retail Sector Market

Mexico is a key supplier of textiles and clothing to the US and sends a large proportion of its textile and clothing exports to the US. In the apparel sector, the women's and girls’ apparel segment holds the largest share. The expansion of the middle class, with young working consumers who follow trends and growth of cities, is contributing to the increasing number of shopping centers. Mexicans like to spend their free time at shopping centers, regardless of their social status. Over the last couple of years of the review period, the apparel and footwear industry saw the entrance of international brands. Fast fashion stood to be a factor behind this change. E-commerce in Mexico is booming, bringing new growth opportunities for the consumer goods and retail industries.

Market Players Outlook

The major companies serving the Mexico Retail Sector market include FEMSA Comercio SA, Coppel SA de CV, El Puerto de Liverpool, Walmart International, Carrefour, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2022, Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA), a leading retail and beverage company acquired Valora Holding AG (Valora).

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Key companies operating in the Mexico retail sector market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.