Mexico’s e-commerce market is experiencing a surge, and this episode dives deep into how you can capitalize on this exciting opportunity. Our guest, Ramiro Velasco from GoAvance, sheds light on the key factors driving this growth and the unique characteristics of the Mexican market compared to others in Latin America.
The transcript for the video is as follows:
The video is about the Mexican e-commerce market and how to expand a business there. The speaker, Debi, introduces Ramiro Velasco, the co-founder of GoAvance, a company that helps brands enter the Latin American market.
Ramiro says that the Mexican e-commerce market is booming due to several factors, including the strengthening of the trade relationship between the US and Mexico, the increasing digitalization of the Mexican economy, and the growing popularity of Amazon in Mexico.
Mexican e-commerce is unique compared to other Latin American countries because of its proximity to the US and the ease of shipping from the US to Mexico. Additionally, Mexican consumers are receptive to influencer marketing and are more likely to buy products that are popular on social media.
The most important channels for reaching Mexican online shoppers are Meta (Facebook and Instagram), Tiktok, and Google Ads. However, it is important to note that Google Ads are not very effective in Mexico.
One of the biggest challenges for sellers in Mexico is ensuring efficient and affordable last-mile delivery. However, there are a number of 3PL solutions available that can help with this.
Ramiro also advises sellers to be aware of existing regulations in Mexico, such as the regulations on importing products. He also recommends that sellers comply with all applicable regulations before starting to sell in Mexico.
There are some differences between the regulations for selling on Amazon Mexico and Amazon USA. For example, sellers cannot use FBA warehouses in Mexico because they cannot legally own the product without a Mexican business entity.
Ramiro believes that the most underused marketing tactic in Mexico is UGC (user-generated content). He says that UGC is very effective in Mexico because Mexican consumers are more likely to trust recommendations from other people.
Ramiro advises anyone who is interested in launching their own e-commerce business in Mexico to understand the marketplace, understand their partners, and understand their audience. He also recommends that sellers work with an agency that specializes in the Mexican market.
