The report presents an in-depth assessment of the Mexican retail sector including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Mexican retail sector investments from 2019 till 2024.
The Mexican retail sector is projected to witness a CAGR of 6.7% by 2024.
The report covers major international players operating in the Mexican retail sector. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence, by securing new contracts and by tapping new markets.
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Scope of the Report
A complete background analysis of the Mexican retail sector, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report.
Key Market Trends
High Disposable Income High Retail Growth
Despite a complex social situation in which criminal undertones color everyday life, Mexicos recent economic upturn has generated a sense of optimism among consumers.
With disposable incomes rising, Mexicans are more willing to invest in themselves, be it on clothing, health, or beauty products. Mexican consumers are spending most of their money across a smaller number of categories, and are looking to turn their aspirations of success into reality by spending more on beauty and personal care products. In Mexican culture, well-known, established brands are seen as reliable and trustworthy.
Many in-country retailers are set to continue their expansion, targeting smaller cities with the potential to grow, due to a lower presence of retail outlets per inhabitant.
From 2012-2016, the average growth of traditional trade has been increasing from 5%-10%, representing a higher percentage of sales and a growing trend in the retailing industry.
Mexico has a fragmented and competitive environment due to the relevance of traditional formats and small independent retailers across all channels.
Leading players are set to increase their geographical footprints throughout the country, by increasing the number of operating outlets.
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High Growth of Apparel and Accessories in Mexico
The Mexican fashion industry reached its highest production levels by the mid of 2018, even under challenging circumstances, with 50 of the most internationally renowned brands selling in the country. The challenge is to maintain or expand this production.
Revenue in the apparel market is expected to grow annually at 7.1% by 2024.
In the apparels sector, the women’s and girls apparels segment holds the largest share.
The expansion of the middle class, with young working consumers who follow trends and growth of cities, is contributing to the increasing number of shopping centers. Mexicans like to spend their free time at shopping centers, regardless of their social status.
Over the last couple of years of the review period, the apparel and footwear industry saw the entrance of international brands. Fast-fashion stood to be a critical factor behind this change.
E-commerce in Mexico is booming, bringing new growth opportunities for the consumer goods and retail industries.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Mexican retail sector Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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