Retailing in Mexico - Market Summary and Forecasts

Retailing in Mexico - Market Summary and Forecasts

Code: CON-RT0224MR | Published: Sep-2015 | Pages: 122 | Conlumino
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Despite the volatile economic conditions, retail sales continued to grow in Mexico following the 2009 recession. Retailers across channels have been rapidly expanding their store count to take advantage of the growing middle income households in Mexico. A large young working population with an increasing number of women in the workforce will continue to generate more disposable income. This increase in disposable income will drive aspirational consumption among Mexican consumers, a behavior further fuelled by discounts and promotional offers.

Key Findings
- A steady recovery in the economy offers growth opportunities for retail sector

- Despite volatile economic conditions and sluggish consumption, retailers continue to invest

- Surge in international tourists (29.1 million) will influence retail sales in Mexico

- Rising participation of women in the labor force(43.1% of working age population) and their desire for a better life will favor retail growth

- Online shoppers prefer cash on delivery due to the fear of uncertainty in product delivery

- Despite being the fastest-growing retail channel in Mexico, online retailing is still in a very nascent stage and contributing only 0.6% to overall retail sales in 2014

- Food and grocery category continue to dominate with 35.4% of share in Mexican retail market

- Clothing (8.1%)and footwear (8%)will be the fastest growing product categories over the next five years

Synopsis
"Retailing in Mexico - Market Summary and Forecasts, 2014-2019" provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to the Mexican retail environment. In addition, it analyses the key consumer trends influencing the Mexican retail industry.

What else does this report offer?

- In-depth analysis of the latest trends in consumer shopping, covering the factors driving shopping, consumer insights, market dynamics (covering 26 product categories), and reviews of the latest best practice in online retail site design

- Market insights based on consumer trends, changing economic and demographic factors, technology innovations and other macroeconomic factors.

- Retail sales and fastest-growing product categories that includes Clothing; Footwear; Books, News and Stationery; Electrical and Electronics; Food and Grocery; Health and Beauty; Furniture and Floor Coverings; Home and Garden Products; Music, Video and Entertainment Software; Sports and Leisure Equipment; Jewelry, Watches and Accessories; Luggage and Leather Goods

- Qualitative and quantitative insights of changing retail dynamics across various channels

Reasons To Buy
- Gain a comprehensive knowledge on 12 product sectors in the Mexican retail market and develop a competitive advantage around consumer behaviour trends from the start of your supply chain

- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the retail market

- Investigate current and forecast behaviour trends in each category to identify the best opportunities to exploit

- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior

- Understand the fastest growing categories in the market with insights on performance of individual product categories, across key channels from 2009, with forecasts until 2019

- Analysis of key international and domestic players operating in the Mexican retail market - including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share

Table of Contents

1 Introduction
1.1 What is this Report About?
2 Executive Summary and Outlook
3 Market Context
3.1 A steadily growing economy with opportunities for retailers
3.1.1 A modest recovery in the economy, indicates a gradual improvement in retail spending
3.1.2 Declining savings rate shows a revival in retail consumption
3.1.3 Service remains the dominant sector for employment
3.1.4 Improving labor market set to drive retail spending
3.1.5 A stable and low inflation level may influence retail sales growth
3.1.6 Household consumption expenditure is set to grow with a rise in middle -income households
3.2 Swelling workforce and social upliftment in the economy will favor retail market
4 Mexican Shoppers
4.1 Demand for healthy food on a rise with increasing concerns over obesity
4.2 Luxury market continues to perform well with low tariffs and improving credit facilities
4.3 Working women and middle income households driving retail sales
4.4 Cash on delivery is the most preferred payment option among consumers
4.5 Increasing inbound tourists offering growth opportunities in retail sector
5 Doing Business in Mexico
5.1 Summary
5.1.1 Bureaucracy
5.1.2 Business culture
5.1.3 Geography
5.1.4 Infrastructure and logistics
5.2 The North American Free Trade (NAFTA) Agreement:
5.3 Key taxation policies
5.4 Renewed guidelines for the labelling of processed packed foods
5.5 Products need to be NOM certified prior importing into Mexico
6 Internet and Technology
6.1 Internet infrastructure in the country is still at a nascent stage
6.2 Fixed broadband penetration remains low among OECD countries
6.3 M-commerce is on the rise with increasing smartphone penetration
6.3.1 Increasing social network penetration creating new opportunities for the retailers
6.4 Technology Trend
6.4.1 7-Eleven Mexico launched its own virtual currency - the "Big Coin"
7 Retail Topline
7.1 Total Retail
7.1.1 Online sales and growth
7.2 Summary of Product Sectors
7.2.1 Share of key product sectors
7.2.2 Key product sectors
7.3 Summary of Channels
7.3.1 Spend per channel
7.3.2 Online penetration of key product sectors
8 Retail - Product Sectors
8.1 Product Sector Analysis
8.1.1 Clothing
8.1.2 Footwear
8.1.3 Books, News, and Stationery
8.1.4 Electrical and Electronics
8.1.5 Food and Grocery
8.1.6 Health and Beauty
8.1.7 Furniture and Floor Coverings
8.1.8 Home and Garden Products
8.1.9 Music, Video, and Entertainment Software
8.1.10 Sports and Leisure Equipment
8.1.11 Jewelry, Watches, and Accessories
8.1.12 Luggage and Leather Goods
9 Retailers
9.1 Clothing
9.2 Footwear
9.3 Books, News, and Stationery
9.4 Electrical and Electronics
9.5 Food and Grocery
9.6 Health and Beauty
9.7 Furniture and Floor Coverings
9.8 Home and Garden Products
9.9 Music, Video, and Entertainment Software
9.1 Sports and Leisure Equipment
9.11 Jewelry, Watches, and Accessories
9.12 Luggage and Leather Goods
10 Appendix
10.1 Definitions
10.1.1 This report provides 2014 actual sales; while forecasts are provided for 2015 - 2019
10.2 Summary Methodology
10.2.1 Overview
10.2.2 The triangulated market sizing method
10.2.3 Industry surveys in the creation of retail market data
10.2.4 Quality control and standardized processes
10.3 About Conlumino
10.4 Disclaimer

List of Tables


Table 1: Mexico Clothing Retail Sales (MXN bn), by Product Sub-Category, 2009-2014
Table 2: Mexico Clothing Retail Sales (MXN bn), by Product Sub-Category, 2014-2019
Table 3: Mexico Footwear Retail Sales (MXN bn), by Product Sub-Category, 2009-2014
Table 4: Mexico Footwear Retail Sales (MXN bn), by Product Sub-Category, 2014-2019
Table 5: Major Domestic Retailers in Mexico
Table 6: Major International Retailers in Mexico
Table 7: Key Clothing Retailers in Mexico
Table 8: Key Footwear Retailers in Mexico
Table 9: Key Books, News, and Stationery Retailers in Mexico
Table 10: Key Electrical and Electronics Retailers in Mexico
Table 11: Key Food and Grocery Retailers in Mexico
Table 12: Key Health and Beauty Retailers in Mexico
Table 13: Key Furniture and Floor Coverings Retailers in Mexico
Table 14: Key Home and Garden Products Retailers in Mexico
Table 15: Key Music, Video, and Entertainment Retailers in Mexico
Table 16: Key Sports and Leisure equipment Retailers in Mexico
Table 17: Key Jewelry, Watches, and Accessories Retailers in Mexico
Table 18: Key Luggage and Leather Goods Retailers in Mexico
Table 19: Mexico Exchange Rate MXN-US$ (Annual Average), 2009-2014
Table 20: Mexico Exchange Rate MXN-US$ (Annual Average), 2015-2019
Table 21: Conlumino Retail Channel Definitions
Table 22: Conlumino Retail Category Definitions

List of Figures


Figure 1: GDP Values (Current US$) billion, 2008-2014
Figure 2: Growth Rate of GDP (Constant US$), 2008-2014
Figure 3: GDP Value and Growth (MXN billion, %), 2008-2014
Figure 4: Forecasts for GDP Value and Growth (MXN billion, %), 2014-2019
Figure 5: Personal Savings (%), 2004-2014
Figure 6: Share of Employment by Sector (%), 2004 and 2014
Figure 7: Unemployment Rate (%), 2005-2014
Figure 8: Inflation Growth Rates (%), 2004-2014
Figure 9: Household Consumption Expenditure of Mexico (MXN Billion), 2004 and 2014
Figure 10: Household Consumption Expenditure of Major Countries (US$ Billion), 2014
Figure 11: Growth of Household Consumption Expenditure (%), 2004-2014
Figure 12: Total Population and Growth Rate (Millions, %), 2004-2019
Figure 13: Population Split by Gender (%), 2014 and 2019E
Figure 14: Population Split by Age Group (%), 2014 and 2019E
Figure 15: Per Capita Spend on Retail (MXN), 2006 and 2014
Figure 16: Per Capita Spend (MXN) on Retail by Age Group (%), 2006 and 2014
Figure 17: Rural and Urban Populations (% of total population) 2004, 2014 and 2019E
Figure 18: Favorable Demographic Structure of Mexico
Figure 19: Online Payment Methods in Mexico
Figure 20: Number of international arrivals to Mexico (Thousands), 2009 and 2014
Figure 21: Major Cities with High Spend on Retail
Figure 22: Doing Business in Mexico
Figure 23: Total Number of Internet Users and Penetration (Millions, %), 2004-2014
Figure 24: Total Number of Fixed Broadband Users and Penetration (Millions, %), 2004-2014
Figure 25: Total Number of Mobile Phone Subscriptions and Penetration (Millions, %), 2004-2014
Figure 26: Total Number of Mobile Phone and Smartphone Users and Penetration (Millions, %), 2014-2018
Figure 27: Total Number of Social Network Users and Penetration in Latin America(Millions,%), 2013-2018
Figure 28: 7-Eleven Launches "Big Coins"
Figure 29: Retail Sales Value and Growth (MXN billion, %), 2006-2014
Figure 30: Retail Sales as % of Total Consumer Spend (%), 2006 and 2014
Figure 31: Total Retail Sales and Growth Rate(MXN billion, %), 2014 and 2019
Figure 32: Online Sales and Growth Rate (MXN billion, %) 2014-2019
Figure 33: Share of Key Product Sectors (%), 2014 and 2019
Figure 34: Growth Rate of Key Product Sectors vs. Growth of Total Retail (%), 2014-2019
Figure 35: Value Growth of Key Product Sectors (MXN billion), 2014-2019
Figure 36: Spend Per Channel, 2014 and 2019
Figure 37: Online Penetration of Key Product Sectors (%), 2014
Figure 38: Online Penetration of Key Product Sectors (%), 2019
Figure 39: Share of Clothing in overall Retail 2014 and 2019
Figure 40: Retail Sales Value and Growth (MXN billion, %) of Clothing 2014-2019
Figure 41: Spend-per-Head on Clothing 2014 and 2019
Figure 42: Share of Clothing by Women's Wear, Men's Wear and Children's Wear 2014 and 2019
Figure 43: Childrenswear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 44: Menswear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 45: Womenswear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 46: Online Spend in Clothing 2014-2019
Figure 47: Online Share of Total Clothing Spend 2014 and 2019
Figure 48: Spending per Channel in Clothing (%) 2014 and 2019
Figure 49: Share of Footwear in Total Retail 2014 and 2019
Figure 50: Retail Sales Value and Growth (MXN billion, %) of Footwear 2014-2019
Figure 51: Spend-per-Head on Footwear 2014 and 2019
Figure 52: Share of Footwear by Women's Footwear, Men's Footwear and Children's Footwear 2014 and 2019
Figure 53: Women's Footwear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 54: Men's Footwear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 55: Children's Footwear Sales Value and Growth (MXN billion, %) 2014-2019
Figure 56: Online Spend in Footwear 2014-2019
Figure 57: Online Share of total Footwear Spend 2014 and 2019
Figure 58: Spending per Channel in Footwear (%) 2014 and 2019
Figure 59: Share of Books, News and Stationery in Total Retail2014 and 2019
Figure 60: Retail Sales Value and Growth (MXN billion, %) of Books, News, and Stationery 2014-2019
Figure 61: Spend-per-Head on Books, News, and Stationery 2014 and 2019
Figure 62: Online Spend in Books, News, and Stationery 2014-2019
Figure 63: Online Share of total Books, News and Stationery Spend 2014 and 2019
Figure 64: Spending per Channel in Books, News, and Stationery (%) 2014 and 2019
Figure 65: Share of Electrical and Electronics in overall Retail 2014 and 2019
Figure 66: Retail Sales Value and Growth (MXN billion, %) of Electrical and Electronics 2014-2019
Figure 67: Spend-per-Head on Electrical and Electronics 2014 and 2019
Figure 68: Online Spend in Electrical and Electronics 2014-2019
Figure 69: Online Share of total Electrical and Electronics Spend 2014 and 2019
Figure 70: Spending per Channel in Electrical and Electronics (%) 2014 and 2019
Figure 71: Share of Food and Grocery in overall Retail 2014 and 2019
Figure 72: Retail Sales Value and Growth (MXN billion, %) of Food and Grocery 2014-2019
Figure 73: Spend-per-Head on Food and Grocery 2014 and 2019
Figure 74: Online Spend in Food and Grocery 2014-2019
Figure 75: Online Share of total Food and Grocery Spend 2014 and 2019
Figure 76: Spending per Channel in Food and Grocery (%) 2014 and 2019
Figure 77: Share of Health and Beauty in overall Retail 2014 and 2019
Figure 78: Retail Sales Value and Growth (MXN billion, %) of Health and Beauty2014-2019
Figure 79: Spend-per-Head on Health and Beauty2014 and 2019
Figure 80: Online Spend in Health and Beauty2014-2019
Figure 81: Online Share of total Health and Beauty Spend 2014 and 2019
Figure 82: Spending per Channel in Health and Beauty (%) 2014 and 2019
Figure 83: Share of Furniture and Floor Coverings in overall Retail 2014 and 2019
Figure 84: Retail Sales Value and Growth (MXN billion, %) of Furniture and Floor Coverings 2014-2019
Figure 85: Spend-per-Head on Furniture and Floor Coverings 2014 and 2019
Figure 86: Online Spend in Furniture and Floor Coverings 2014-2019
Figure 87: Online Share of total Furniture and Floor Coverings Spend 2014 and 2019
Figure 88: Spending per Channel in Furniture and Floor Coverings (%) 2014 and 2019
Figure 89: Share of Home and Garden Products in overall Retail 2014 and 2019
Figure 90: Retail Sales Value and Growth (MXN billion, %) of Home and Garden Products 2014-2019
Figure 91: Spend-per-Head on Home and Garden Products 2014 and 2019
Figure 92: Online Spend in Home and Garden Products 2014-2019
Figure 93: Online Share of total Home and Garden Products Spend 2014 and 2019
Figure 94: Spending per Channel in Home and Garden Products (%) 2014 and 2019
Figure 95: Share of Music, Video, and Entertainment Software in overall Retail 2014 and 2019
Figure 96: Retail Sales Value and Growth (MXN billion, %) of Music, Video, and Entertainment Software 2014-2019
Figure 97: Spend-per-Head on Music, Video, and Entertainment Software 2014 and 2019
Figure 98: Online Spend in Music, Video, and Entertainment Software 2014-2019
Figure 99: Online Share of total Music, Video, and Entertainment Software Spend 2014 and 2019
Figure 100: Online Share of total Music, Video, and Entertainment Software Spend 2014 and 2019
Figure 101: Share of Sports and Leisure Equipment in overall Retail 2014 and 2019
Figure 102: Retail Sales Value and Growth (MXN billion, %) of Sports and Leisure Equipment 2014-2019
Figure 103: Spend-per-Head on Sports and Leisure Equipment 2014 and 2019
Figure 104: Online Spend in Sports and Leisure Equipment 2014-2019
Figure 105: Online Share of total Sports and Leisure Equipment Spend 2014 and 2019
Figure 106: Spending per Channel in Sports and Leisure Equipment (%) 2014 and 2019
Figure 107: Share of Jewelry, Watches, and Accessories in overall Retail 2014 and 2019
Figure 108: Retail Sales Value and Growth (MXN billion, %) of Jewelry, Watches, and Accessories 2014-2019
Figure 109: Spend-per-Head on Jewelry, Watches, and Accessories 2014 and 2019
Figure 110: Online Spend in Jewelry, Watches, and Accessories 2014-2019
Figure 111: Online Share of total Jewelry, Watches, and Accessories Spend 2014 and 2019
Figure 112: Spending per Channel in Jewelry, Watches, and Accessories (%) 2014 and 2019
Figure 113: Share of Luggage and Leather Goods in overall Retail 2014 and 2019
Figure 114: Retail Sales Value and Growth (MXN billion, %) of Luggage and Leather Goods 2014-2019
Figure 115: Spend-per-Head on Luggage and Leather Goods 2014 and 2019
Figure 116: Online Spend in Luggage and Leather Goods 2014-2019
Figure 117: Online Share of total Luggage and Leather Goods Spend 2014 and 2019
Figure 118: Spending per Channel in Luggage and Leather Goods (%) 2014 and 2019
Figure 119: The Triangulated Market Sizing Methodology
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