According to a Euromonitor
International report, the e-commerce giant likely doubled its sales to
become the biggest internet retailer in Mexico this year, helping to grow the
country's nascent e-commerce market by a third.
Amazon.com Inc likely doubled its
sales to become the biggest internet retailer in Mexico this year, helping to
grow the country's nascent e-commerce market by a third, according to a report
by market research firm Euromonitor International.
The world's largest online retailer
will generate $502.2 million in Mexico sales this year compared with $243.9 million
last year, the Euromonitor report said. Its findings were based on trade
surveys, market studies and data research.
Online sales still account for
slightly over 3 percent of all retail sales in Mexico, where shoppers fear
credit card fraud and are often paid in cash. Internet shopping represents
nearly 12 percent of all retail sales in the United States.
Argentina's MercadoLibre Inc
registered an increase of nearly 90 percent from 2016, Euromonitor said, but
was still seen slipping to second place with some $489.2 million in sales.
MercadoLibre did not comment on the Euromonitor figures but said its Mexican
sales rose 82 percent in the third quarter.
In third place was Wal-Mart de
Mexico with $258.9 million in projected online sales, or growth of about a
third. Wal-Mart de Mexico did not respond to a request for comment.
Amazon, which formally launched in
Mexico two years ago, made a push to expand its customer base in October by
introducing a cash payments system. The U.S. company declined to comment on the
Euromonitor data, saying it does not release sales figures.
Euromonitor excluded
consumer-to-consumer sales sites, such as eBay, in its analysis.
The firm forecast the Mexican online
market would be worth $7.1 billion next year, rising to $14 billion by 2022.
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