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Mexico Retail Market Size, Share, Growth, Report, Demand: By Product: Food, Beverage, and Grocery, Personal and Household Care, Apparel, Footwear, and Accessories, Furniture and Home Decor, Industrial and Automotive, Others; By Sector; By Distribution Channel; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Mexico Retail Market Outlook
The Mexico retail market size is projected to grow at a CAGR of 4.8% between 2024 and 2032. The market is being driven by the expansion of existing retail spaces and the rising emphasis on providing a memorable shopping experience.
Key Takeaways:
- The organised sector is expected to dominate the Mexico retail market share in the forecast period.
- 800,000 square feet of new shopping centres were established in 2023 in Mexico.
- The vacancy rate declined from 10% in the previous year to 8% in 2023.
The expansion of existing retail spaces is expected to drive the Mexico retail market growth. This is because the retail sector plays a critical role in promoting employment opportunities in Mexico and its growth has a favourable impact on other industries like security, technology, and cleaning, among others.
Moreover, the emphasis on providing a memorable shopping experience is driving sales of various products, contributing to the market expansion. Rising investor confidence is prompting increasing investment in the retail sector, which is enabling businesses to develop innovative brands and concepts in Mexico. Over time, this is expected to lead to Mexico retail market development.
The increasing construction of community centres and small and mid-size shopping complexes is one of the key Mexico retail market trends. Shopping centres located in major cities like Monterrey, Guadalajara, and New Mexico City have recorded a decrease in the availability of retail space, pointing towards the strong economic recovery of the sector post-COVID-19 pandemic.
The strategic location of retail spaces in Mexico and the increasing focus on personalised shopping experiences is driving the Mexico retail market growth. It is expected that 330,000 square feet of additional retail space can be created in Mexico in 2024.
Market Segmentation
Mexico Retail Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Food, Beverage, and Grocery
- Personal and Household Care
- Apparel, Footwear, and Accessories
- Furniture and Home Decor
- Industrial and Automotive
- Electronic and Household Appliances
- Pharmaceuticals
- Luxury Goods
- Others
Market Breakup by Sector
- Organised
- Unorganised
Market Breakup by Distribution Channel
- Hypermarket and Supermarket
- Convenience Stores
- Speciality Stores
- Department Stores
- E-Commerce
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico retail market players are Walmart Inc., Amazon.com, Inc, El Palacio de Hierro, SA de CV, El Puerto de Liverpool, Fomento Economico Mexicano, SAB de CV, Tiendas Soriana, S.A. de C.V., COPPEL, SA DE CV, Sears Operadora México S.A. de C.V., Auchan Holding, and Costco Wholesale Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
|
| Breakup by Sector |
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| Breakup by Distribution Channel |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Retail Market Overview
8.1 Key Industry Highlights
8.2 Latin America Retail Historical Market (2018-2023)
8.3 Latin America Retail Market Forecast (2024-2032)
8.4 Latin America Retail Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Retail Market Overview
9.1 Key Industry Highlights
9.2 Mexico Retail Historical Market (2018-2023)
9.3 Mexico Retail Market Forecast (2024-2032)
10 Mexico Retail Market by Product
10.1 Food, Beverage, and Grocery
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Personal and Household Care
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Apparel, Footwear, and Accessories
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Furniture and Home Decor
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Industrial and Automotive
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Electronic and Household Appliances
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Pharmaceuticals
10.7.1 Historical Trend (2018-2023)
10.7.2 Forecast Trend (2024-2032)
10.8 Luxury Goods
10.8.1 Historical Trend (2018-2023)
10.8.2 Forecast Trend (2024-2032)
10.9 Others
11 Mexico Retail Market by Sector
11.1 Organised
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Unorganised
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Mexico Retail Market by Distribution Channel
12.1 Hypermarket and Supermarket
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Speciality Stores
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Department Stores
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 E-Commerce
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Mexico Retail Market by Region
13.1 Baja California
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Northern Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 The Bajío
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Central Mexico
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Pacific Coast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Yucatan Peninsula
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Walmart Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Amazon.com, Inc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 El Palacio de Hierro, SA de CV
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 El Puerto de Liverpool
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fomento Economico Mexicano, SAB de CV
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Tiendas Soriana, S.A. de C.V.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 COPPEL, SA DE CV
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sears Operadora México S.A. de C.V.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Auchan Holding
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Costco Wholesale Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Retail Market: Key Industry Highlights, 2018 and 2032
2. Mexico Retail Market: Key Industry Highlights, 2018 and 2032
3. Mexico Retail Historical Market: Breakup by Product (USD Million), 2018-2023
4. Mexico Retail Market Forecast: Breakup by Product (USD Million), 2024-2032
5. Mexico Retail Historical Market: Breakup by Sector (USD Million), 2018-2023
6. Mexico Retail Market Forecast: Breakup by Sector (USD Million), 2024-2032
7. Mexico Retail Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. Mexico Retail Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. Mexico Retail Historical Market: Breakup by Region (USD Million), 2018-2023
10. Mexico Retail Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Mexico Retail Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.
The different distribution channels in the market include hypermarket and supermarket, convenience stores, speciality stores, department stores, and e-commerce, among others.
The major types of products in the market include food, beverage, and grocery, personal and household care, apparel, footwear, and accessories, furniture and home décor, industrial and automotive, electronic and household appliances, pharmaceuticals, and luxury goods, among others.
The different sectors considered in the market report are organised and unorganised.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Walmart Inc., Amazon.com, Inc, El Palacio de Hierro, SA de CV, El Puerto de Liverpool, Fomento Economico Mexicano, SAB de CV, Tiendas Soriana, S.A. de C.V., COPPEL, SA DE CV, Sears Operadora México S.A. de C.V., Auchan Holding, and Costco Wholesale Corporation, among others.
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