CURITIBA, BRAZIL – March 28, 2018 – EBANX, a fintech company headquartered in Brazil that offers local payment methods from Latin America to international merchants, enabling them to sell their products and services to the region, released 2017 results on the top sales months for cross-border ecommerce revenue generated in Mexico.
Mexican consumers made 39.26% of their annual cross-border online purchases during the months of September, November and December. Among these three months, cross-border ecommerce merchants selling to Mexicans collectively experienced the highest sales volume in December 2017.
As Latin America’s second largest economy, Mexican shoppers generated USD 7.19 billion in ecommerce sales in 2016. Statista reports sales are predicted to reach USD 14.88 billion in 2020. The 107% growth over four years is being propelled by increased access to internet connectivity, the adoption of m-commerce purchasing patterns and the ability to use local payment methods, including OXXO, a cash payment voucher.
Global and Local Discount Seasons
Examining revenue generated, fourth quarter sales volume was fueled by culturally specific spending patterns and global sales promotions.
Sales within December were heavily championed by formally-employed Mexicans receiving aguinaldo, a Christmas bonus required by law in the country and distributed by December 20th of each year. The aguinaldo is equivalent to at least 15 days of wages based on how many days the employee worked. Larger companies have been known to pay employees up to 30 days of wages, resulting in a thirteen salary.
Fourth quarter sales were also boosted with the global ecommerce shopping promotions of Single’s Day (November 11), Black Friday (November 24) and Cyber Monday (November 27). Mexicans also looked for online ecommerce promotions during El Buen Fin – a national shopping campaign taking place during the long weekend leading up to the observance of the Mexican Revolution (November 17-20 in 2017). However, El Buen Fin remains as a national ecommerce holiday targeted prominently for in-store sales.
When examining cross-border ecommerce campaigns, EBANX reports with internal data that merchants experienced the largest sales rates on Cyber Monday, followed by Black Friday and Single’s Day (an ecommerce shopping holiday originating in China and expanding in popularity worldwide).
During the month of September, customers increased their shopping patterns to close out the third quarter with end-of-the-year purchases, preparing for Christmas and gift giving celebrations. The Christmas season in Mexico is celebrated with religious observances and Posadas, traditional parties which include gift giving with friends and family for the nine days leading up to Christmas Eve. Mexican e-shoppers are conscious that the international shipping process and clearance through customs can often take over 60 days.
EBANX is a global fintech company with Brazilian DNA. Created in 2012, it offers end-to-end payment solutions across the entire cross border e-commerce transaction flow, providing over 100 Latin American local payment options to global merchants eager to expand throughout the region. In 2017 EBANX achieved the milestone of 30 million end-users across the region. The company goes beyond payment processing, by offering merchants marketing consultancy services and a 24/7 local customer support team to serve all their Latin American clients – in their own language. For more information, please visit https://business.ebanx.com/en/.