Metaverse eCommerce - Mexico | Statista Market Forecast

The projected value in the Metaverse eCommerce market in 2024 is set to reach US$351.7m.
Looking ahead, the market is expected to demonstrate a steady annual growth rate (CAGR 2024-2030) of 44.40%.
This growth trajectory would result in a projected market volume of US$3.2bn by 2030.
It is worth noting that China currently dominates the market, with a projected market volume of US$10.2bn in 2024.
In terms of user numbers, the Metaverse eCommerce market is expected to see an increase, reaching 21.9m users users by 2030.
User penetration, which stands at 5.1% in 2024, is projected to rise to 16.3% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$53.4.
These figures indicate the significant potential and growth opportunities within the Metaverse eCommerce market.
With its vast population and increasing digital adoption, in Mexico is positioned to play a pivotal role in this market segment.
In the rapidly growing market of Metaverse eCommerce in Mexico, virtual shopping experiences are becoming increasingly popular among tech-savvy consumers.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Mexico is experiencing significant growth and development.

Customer preferences: Mexican consumers are increasingly embracing the concept of the Metaverse and its potential for eCommerce. They are drawn to the immersive and interactive nature of the Metaverse, which allows them to explore virtual worlds, interact with other users, and shop for products and services. This virtual shopping experience offers convenience and a unique way to discover and purchase products, making it appealing to tech-savvy consumers in Mexico.

Trends in the market: One of the major trends in the Metaverse eCommerce market in Mexico is the rise of virtual marketplaces. These platforms provide a space for businesses to showcase and sell their products and services in the virtual world. Mexican consumers can browse through virtual stores, interact with virtual sales assistants, and make purchases using virtual currencies. This trend is driven by the increasing popularity of virtual reality (VR) and augmented reality (AR) technologies, which enhance the immersive shopping experience in the Metaverse. Another trend in the market is the integration of social media and eCommerce in the Metaverse. Mexican consumers are highly active on social media platforms, and businesses are leveraging this trend by creating virtual storefronts and advertising their products on social media platforms within the Metaverse. This allows them to reach a larger audience and engage with consumers in a more interactive and personalized way.

Local special circumstances: Mexico has a large and growing population of internet users, making it a fertile ground for the development of the Metaverse eCommerce market. Additionally, the country has a vibrant gaming and tech industry, which provides a strong foundation for the growth of virtual reality and augmented reality technologies. Furthermore, the Mexican government has been supportive of the digital economy and has implemented policies to promote innovation and entrepreneurship in the tech sector. These factors contribute to the favorable environment for the development of the Metaverse eCommerce market in Mexico.

Underlying macroeconomic factors: The growth of the Metaverse eCommerce market in Mexico is also influenced by underlying macroeconomic factors. The country has a strong economy and a growing middle class, which has led to an increase in disposable income and consumer spending. This provides a favorable market for businesses operating in the Metaverse eCommerce space. Additionally, Mexico has a young and tech-savvy population, which is quick to adopt new technologies and embrace digital experiences. This demographic trend further fuels the growth of the Metaverse eCommerce market in the country. In conclusion, the Metaverse eCommerce market in Mexico is experiencing significant growth and development. Mexican consumers are embracing the immersive and interactive shopping experience offered by the Metaverse, and businesses are capitalizing on this trend by creating virtual marketplaces and integrating social media and eCommerce. The favorable local circumstances, such as a large population of internet users, a vibrant gaming and tech industry, and government support for the digital economy, contribute to the growth of the Metaverse eCommerce market in Mexico. Additionally, underlying macroeconomic factors, such as a strong economy and a growing middle class, further drive the expansion of the market.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.