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Mexico will be a leader in e-commerce growth

Mexico will be a leader in e-commerce growth

Posted by Ricardo Vázquez on November 26, 2014

Mexican consumers are expected to see the largest growth worldwide in online purchases made outside their country over the next 12 months, according to a new study by online payment platform PayPal.

According to the study, Mexico will see a 59% rise in online purchases abroad followed by Russia (54%) and China (52%).

In Latin America's largest economy Brazil, the opposite is the case with some 50% of online buyers making purchases only in the local market and 46% buying in both.

The study used the spending habits of 22 countries over the last 12 months to predict trends for the next year.

WHAT ARE THEY BUYING?

Clothes and shoes are the most sought after items for online shoppers buying abroad with 39% buying these items. In the case of Latin America that percentage is higher at 47%, tied with the Middle East and only behind Central and Eastern Europe, where the level reaches 50%.

The second most popular item is electronics goods where in Mexico 39% of shoppers opt for these products abroad and in Brazil it is 36%.

But for Brazilians, clothes and shoes are the most popular item acquired abroad with 50% of online shoppers buying those products. In third place are cosmetics and beauty products.

The US and China are the most important purchasing destinations, making up 26% and 18% of the total.

SHIPPING COSTS

Shipping costs are a hindrance to growth with 51% of those surveyed who had made purchases in the last 12 months saying they would buy more abroad if shipping costs were not so high and 47% saying that free shipping costs would be a major draw.

PayPal has said that Latin America is a major focus for the company where e-commerce is starting to take off. The company announced at the end of September it was splitting off from parent eBay to facilitate its growth path, saying that PayPal's revenues are growing at 19% a year, twice as quickly as eBay's.

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