Forecast: Retail (Except of Motor Vehicles and Motorcycles) Output in Mexico

The retail (except of motor vehicles and motorcycles) sector in Mexico has shown robust growth from 2013 to 2023, rising from 1.9633 trillion to 3.877 trillion Mexican Pesos. The year-on-year growth has fluctuated, with a notable dip in 2020 due to the pandemic but a strong recovery in subsequent years. The average annual growth rate over the past five years (CAGR) stands at 6.05%. For 2023, the retail output value was recorded at 3.877 trillion Mexican Pesos, marking a 5.13% increase from 2022.

Future trends to watch for:

  • Continued gradual growth with a forecasted 5-year CAGR of 3.38% and an overall increase of 18.1% by 2028.
  • Impact of e-commerce expansion and digital transformation on retail strategies and consumer behavior.
  • Potential influence of economic and political shifts on consumer spending trends.

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