To bring tailored content from Latin America to the world is our motto here at LABS. And if Brazil emerges as the region’s first economy and most developed market – Mexico comes right after as the second most mature economy, the second most populous country in Latin America, and the second of the region in the number of internet users, with 74.3M Mexicans connected. Smartphones are driving the democratization of the internet in the country, and smartphone users already represent 93% of the online population. With a rising number of internet users and online shoppers, especially with the growth of e-commerce sales through mobile devices, the country is in a moment of disruption, opening room for several business opportunities. We know that keeping up with Mexico news daily is no easy task, but it’s essential to anyone interested in seizing business opportunities in the country. In this section, you will be able to get news and updates on only what matters about Latin America’s second economy.
Mexico news today
Mexico has the second largest online population in Latin America, only behind Brazil. With 74.3M Mexicans connected, and 93% of the online population connected by a smartphone, digital transformation is growing fast in the country, reaching an ever-growing number of consumers and sectors of a wide-range: retail, e-commerce, logistics, mobility, and so on.
Also, Mexico’s early stage of bankarization and the high costs for the consumer have caused the rapid development of fintechs related to traditional financial services. So if financial inclusion and dependence on cash is still a challenge; the connectivity and development of fintechs are transforming this reality.
Stay up to date with Mexico latest news on LABS.
Mexico economy news: the potential of Latin America’s second economy
Mexico is one of the biggest markets in the world with strong macroeconomic institutions and an open economy. Despite the short-term shock in 2019, the authorities’ commitment to fiscal prudence is strong, monetary policy has succeeded in bringing inflation to target, and the steady currency, compared to the Latin American performance, is playing a key role in helping the economy. Economy, e-commerce, technology, digital transformation and more. On LABS, you stay up to date with all Mexico economy news today.
Mexican Online Market: The time is now
The online market is growing in Mexico: about 7 out of 10 connected mexicans made an online purchase in 2018. To have an idea, international companies such as Amazon, Mercado Libre, and Walmart have some of the highest growth rates in the country – and boosted by increased internet penetration throughout the country, Mexico’s online market will continue to show impressive growth rates.
Despite being the second largest economy of Latin America, Mexico has, in fact, is getting closer to the leading country: according to information from Americas Market Intelligence, it is expected that Mexico reaches Brazil’s online market numbers by 2021.
In addition, the rapid growth of the mobile online market – especially in retail – is favored by a combination of factors, including the availability of smartphones at affordable prices and the declining price of telecommunications services. Mexico news shows a path of growth for online consumption: 67% of Mexican web shoppers bought from international e-commerce stores, and the representation of cross-border online transactions is largest than in Brazil.