Quick Commerce, also known as Q-commerce, is a rapidly growing market in Mexico. With the rise of e-commerce and the increasing demand for convenience, Q-commerce has become a popular choice for consumers looking for fast and efficient delivery of goods.
Customer preferences: Mexican consumers are increasingly turning to Q-commerce for their everyday needs. The convenience of being able to order products online and have them delivered quickly is a major factor in the growth of the Q-commerce market. Additionally, the COVID-19 pandemic has accelerated the adoption of Q-commerce, as consumers look for contactless delivery options.
Trends in the market: One of the key trends in the Q-commerce market in Mexico is the expansion of services offered by companies. Many Q-commerce companies are expanding beyond just food delivery and are now offering a wider range of products, such as groceries, household items, and even medication. This trend is driven by the desire to capture a larger share of the market and provide consumers with a one-stop-shop for all their needs.Another trend in the Q-commerce market in Mexico is the increasing use of technology to improve the delivery process. Many companies are investing in technology such as drones and autonomous vehicles to make deliveries faster and more efficient. This trend is expected to continue as companies look for ways to differentiate themselves in an increasingly competitive market.
Local special circumstances: Mexico's large and growing population, coupled with its urbanization, makes it an attractive market for Q-commerce companies. The country's urban population is concentrated in large cities, such as Mexico City, Guadalajara, and Monterrey, which makes it easier for Q-commerce companies to offer fast and efficient delivery.
Underlying macroeconomic factors: Mexico's economy is growing, and its middle class is expanding. This has led to an increase in disposable income and a greater demand for convenience. Additionally, the country's young population is tech-savvy and comfortable with online shopping, which has contributed to the growth of the Q-commerce market. However, the country's infrastructure and logistics capabilities still need improvement, which can present challenges for Q-commerce companies looking to expand their operations.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us 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 relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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