The Growth Trajectory of the Mexico Retail Sector Market

The Mexico retail sector market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2025-2035). The market growth is driven by the rising influx of retail stores. Additionally, the growth in the middle class is presenting an opportunity for market growth during the forecast period. Furthermore, the market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. However, issues related to logistics and supply chain operations may hinder market growth.

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According to the International Trade Administration, the revenue of the retail industry in Mexico was $76 billion, from over 47,000 retail stores across Mexico. The retail sector in Mexico is dominated by Walmart de Mexico (66.4%), in 2023, followed by Grupo Chedraui (17%), Soriana and CityClub (14%), and La Comer (2.6%).   

The channel share of retail sales in Mexico, in 2022 was- hyper stores (15%), discount stores (11%), cash and carry (9%), convenience stores (7.5%), pharmacies (8%), supermarkets (6%), food service (4%), and eCommerce (12%).

In 2022, the highest purchase by Mexican consumers was witnessed in the electronics, household appliances, fashion, home furnishings, and games product categories. During the forecast period, cosmetic and personal care products, and pet products present opportunities for the growth of the Mexican retail sector market.

According to the United States Department of Agriculture, in 2023, the sales of Mexico’s retail sector reached $78.4 billion in 2023.

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Mexico City is expecting at least four shopping centers by 2026, including the expansion of Antara, Distrito Santa Fe, Espacio Condesa, Portal Breitania, Punto Basilica, Reforma Colon, Altea Paseo, Paseo Copa, and Paseo Xochimilco, among others.  

Mexico retail sector market is segmented by product (food and beverage and tobacco products, personal and household care, apparel, footwear, accessories, furniture, toys, industrial and automotive, electronics and household appliances, and others), and by distribution channel (hypermarkets and supermarkets, convenience stores and department stores, specialty stores, online, and others)

The apparel segment is anticipated to hold a prominent share in the Mexico retail sector market, attributed to the expansion of the middle class, with young working consumers who follow trends and growth of cities. Additionally, the increasing number of shopping centers is contributing to the growth of the segment. Furthermore, the entry of new market players is driving the bolstering of the growth of the segment during the forecast period. Moreover, e-commerce in Mexico is booming, bringing new growth opportunities for the consumer goods and retail industries.

Recent Development

• In December 2024, Walmart Mexico opened 155 new stores and clubs across the country. The company has invested MX$ 34.5 billion ($1.8 billion) for the project. The company will now operate 3,162 stores and clubs in the country.

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