Amazon is crowned as the leading online retailer in Mexico in 2017

Euromonitor International forecasts that Amazon will generate 505.2 million dollars in sales in Mexico this year, a figure that easily surpasses MercadoLibre and Wal-Mart.

By Notimex Monday, December 18, 2017 comments

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Euromonitor International forecasts that Amazon will generate 505.2 million dollars in sales in Mexico this year, a figure that easily surpasses MercadoLibre and Wal-Mart.

 

 

Amazon could double its sales this year to become the largest Internet retailer in Mexico, according to a report by market research firm Euromonitor International.

 

amazon 3.pngPhoto Credits: Website 90.9k

 

 

Euromonitor forecasts that Amazon will generate $ 505.2 million in sales in Mexico in 2017 compared with $243.9 million last year.

 

Internet sales still represent just over 3 percent of total retail sales in Mexico, where shoppers fear credit card fraud and often pay in cash. In the United States, online purchases account for almost 12 percent of this market.

 

amazon 1Photo Credits: Website Business Insider 

 

The Argentine MercadoLibre recorded an increase of almost 90 percent compared to 2016, according to Euromonitor, but still would have fallen to second place with some 489.2 million dollars in sales.

 

In third place would be Wal-Mart de Mexico with 258.9 million dollars, or a rise close to one third. The company did not respond to a request for comments.

 

amazon 2Photo Credits: Website República 

 

The firm predicts that the online Mexican market will be worth some 7,100 million dollars next year, to reach 14 billion dollars in 2022.