When it comes to Mexico, many people think that this country does not seem to be a good place to do business. However, when the global economy is growing slowly, all parties are generally optimistic about Mexico’s development prospects: economic development is booming, political stability, and bond credit ratings have also been upgraded. Although local e-commerce in Mexico is developing, there are many cross-border e-commerce platforms that want to enter Mexico to seize the opportunity, including Chinese cross-border e-commerce platforms.
In 2018, China, as one of the top ten import sources of Mexico, ranked second in the import trade volume of various countries, but compared with the United States, which occupies half of the Mexican import market, Chinese manufacturing is only one-third of American manufacturing. Fortunately, in this promising Mexican market, the amount of Chinese manufacturing imports is gradually increasing.
Major giants are betting on Mexico
1. Amazon
In March 2017, Amazon launched the Prime membership system in Mexico and launched a cash payment service in October.
As of 2019, Amazon has established two distribution centers in Mexico, covering a total area of 46,500 square meters. Amazon also plans to build a giant warehouse covering 92,900 square meters near Mexico City, which will triple Amazon’s storage area in Mexico.
2. Walmart
In March 2017, Walmart announced an additional investment of US$867 million in Mexico, an increase of 19% over 2016. The company will increase investment in infrastructure such as logistics, e-commerce and product preservation.
In addition, Walmart Mexico plans to double its sales within 10 years.
3. Alibaba
In September 2017, the Mexican government announced an agreement with Alibaba to help Mexican SMEs enter China and other international markets through Alibaba’s B2B trading platform.
Then-Mexican President Peña Nieto said: “By working with Alibaba, we can expand Mexico’s export options in China and Asia and increase the cross-border trade knowledge of Mexican SMEs.”