Summary

The Mexico quick commerce sector, like other regions, focusses on providing goods to consumers quickly, usually between minutes to a few hours. This market is significant due to its convenience, time-saving benefits, and accessibility, especially in urban regions with heavy traffic congestion and hectic lives. The Mexican rapid commerce business originated from traditional e-commerce, with early entrants such as Superama (a Walmart affiliate) pioneering online grocery shopping. However, the market surged with the introduction of specific rapid commerce platforms and the increase in smartphone adoption. Companies such as Cornershop, Rappi, and SinDelantal arose, using technology to provide quick deliveries. In terms of compliance, rapid commerce enterprises in Mexico must follow a number of regulations, including food safety requirements (COFEPRIS), labour laws, and data privacy restrictions. They must also follow local restrictions regarding delivery services and parking. Also, Mexico's cash-dominant culture presents cash handling and security problems for platforms that offer cash on delivery services. The COVID-19 pandemic has considerably boosted the growth of Mexico's fast commerce business. Lockdowns and social distancing tactics pushed consumers to use online shopping and speedy delivery services at record rates. According to the Asociación Mexicana de Venta Online (AMVO), online shopping in Mexico surged by 30% during the epidemic. Also, the epidemic prompted a surge in contactless deliveries, with platforms implementing safeguards to ensure the safety of both clients and delivery people. Companies such as Rappi and Cornershop have created "no-contact" delivery alternatives, which allow customers to receive goods without having to deal directly with delivery workers. This market's growth has been fuelled by technological improvements such as advanced routing algorithms, real-time inventory management, and user-friendly mobile apps. Also, the growth of dark stores and micro-fulfillment centres has made delivery speedier. Investments from venture capital firms and multinational corporations have also fuelled growth and innovation.

According to the research report, "Mexico Quick Commerce Market Outlook, 2029," published by Bonafide Research, the Mexico quick commerce market is anticipated to add to more than USD 2,400 Million by 2024–29. This expansion is fuelled by expanding smartphone penetration, improved internet infrastructure, and increased use of digital payments. The quick commerce industry, in particular, is thriving because to the promise of fast delivery. Several main trends are influencing the market. For starters, there's a growing desire for lightning-fast deliveries, with players boasting 15-minute or less turnaround. To expedite order fulfilment, dark shopfronts and micro-fulfillment centres are popping up everywhere. The concept of "dark kitchens" or "ghost kitchens," in which food is prepared purely for delivery, is also gaining popularity. Also, the market is experiencing a growth in the use of new technologies like as artificial intelligence for demand forecasting and route optimisation, as well as data analytics for personalised marketing. Both multinational and local enterprises are key players in Mexico's fast commerce market. Cornershop, a Chilean startup acquired by Uber, is a major participant in quick grocery delivery. Rappi, a Colombian startup, offers a wide range of rapid commerce services, including groceries and cash withdrawals. Other significant players include SinDelantal (part of the Just Eat Takeaway.com group) in food delivery and Walmart and Soriana in supermarket. Cornershop expanded its product offers by partnerships with large retailers such as Chedraui, Walmart, and La Comer. Rappi partnered with Banorte to provide financial services, thereby diversifying its portfolio. Uber Eats collaborated with Cornershop to bring grocery delivery to its platform, using each other's strengths. Rappi collaborated with Google to improve its delivery services by leveraging Google Maps Platform. These collaborations demonstrate the market's potential for technological disruption and innovation.

The Mexico rapid commerce sector provides a varied selection of product kinds that meet consumers' immediate demands. Groceries are the most popular segment in the Mexico rapid commerce market. It contains fresh vegetables, packaged foods, beverages, and other household necessities. The development is being driven by the frequent and recurrent nature of grocery purchases, as well as the convenience of speedy delivery. Cornershop, Rappi, Walmart, and Soriana are among the leading brands. Cornershop, for example, innovates with its user-friendly software and efficient delivery network, with deliveries as fast as 60 minutes. While not as huge as groceries, the stationary items market addresses a distinct demand, particularly with the increase of remote work and online learning. Startups such as Merqueo and Jüsto, which began with groceries, have expanded their product offers to include stationery products, capitalising on rising demand. Farmacias San Pablo and Farmacias del Ahorro provide express delivery for personal care items. Also, platforms such as Rappi and Cornershop have specific areas for these products. Consumer electronics, accessories, and small appliances are another market area. While not as popular as groceries, the high price of these things makes them a considerable market sector. Platforms like Mercado Libre and Amazon Mexico are significant players. Mercado Libre innovates through its "Mercado Pago" payment system and "Mercado Envíos" logistics network to promote speedy deliveries. Jüsto, a Mexican grocery delivery firm, stands out for its commitment to sustainability by delivering products in reusable packaging and making deliveries with electric cars. Another business, Merqueo, is innovative with its "Merqueo Express" service, which promises deliveries in under 10 minutes.

In Mexico's rapid commerce market, both cash on delivery (COD) and online payment methods are popular, catering to diverse consumer preferences and levels of digital proficiency. COD allows clients to pay for their purchases when they arrive, giving them the freedom to inspect products before paying and avoiding the need to divulge sensitive financial information online. This payment method is extensively utilised in Mexico, where a large proportion of the population is unbanked or underbanked. Businesses face issues such as an increased chance of payment failures and delayed payments. Rappi, Cornershop, and Uber Eats are among the major providers of COD services. The growth of online payments is being driven by technology advancements, shifting consumer behaviours, and a shift towards digital transactions, which has been expedited by the COVID-19 epidemic. This area is quickly expanding, propelled by rising smartphone usage, improved internet infrastructure, and the advent of digital payments. Online payments are the most popular due to their convenience, quickness, and security. It speeds up checkout processes, lowers the chance of payment defaults, and improves the overall consumer experience. Mercado Pago, developed by Mercado Libre, is Mexico's leading digital payment platform. It innovates with its QR code payment system, which allows users to make payments with their cellphones. It also provides a digital wallet for storing money and making online transactions. Clipp, a Mexican business focused on digital payments, lets clients pay for goods and services with their smartphones. It stands out for its safe and user-friendly platform, which accepts payments via QR codes, NFC, and SMS.

Platforms in the Mexico rapid commerce industry function via a variety of channels, including application-based operation, hybrid operation, and website-based operation, each with its own relevance and advantages. The importance of app-based operation stems from its simplicity, user-friendly interfaces, and ability to exploit mobile capabilities such as push alerts and location services. It's especially enticing to tech-savvy customers and those who want to shop on the go. Rappi, Cornershop, and Uber Eats are among the leading players in this market. Rappi, for example, innovates with its multi-service app, which includes not just swift commerce but also banking services and trip bookings. The Hybrid Operation model integrates several channels, including mobile apps, websites, and physical stores, to provide customers with a seamless and integrated purchasing experience. A user can explore products on the website, add them to their cart via the app, and then pick them up in-store. Walmart, Soriana, and Chedraui are among the key firms that have adopted this approach. The value of website-based operation stems from its accessibility, which does not require app downloads and can be accessed from any device with an internet connection. It also supports more detailed product information and is SEO-friendly, which helps firms reach a larger audience. Mercado Libre, Amazon Mexico, and Liverpool are among the market leaders in this area. Mercado Libre stands out for its vast product range, user-friendly interface, and unique features like live shopping events

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Quick Commerce market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Food & Groceries
• Stationary
• Personal Care Items
• Small Electronics & Accessories
• Others (Pets, alcohol, gifts & flowers, Medicines)

By Payment Mode
• Cash on Delivery
• Online

By Technology
• Application Based Operation
• Hybrid Operation
• Website Based Operation

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Quick Commerce industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Contents

1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Mexico Macro Economic Indicators
5. Market Dynamics
5.1. Market Drivers & Opportunities
5.2. Market Restraints & Challenges
5.3. Market Trends
5.3.1. XXXX
5.3.2. XXXX
5.3.3. XXXX
5.3.4. XXXX
5.3.5. XXXX
5.4. Covid-19 Effect
5.5. Supply chain Analysis
5.6. Policy & Regulatory Framework
5.7. Industry Experts Views
6. Mexico Quick Commerce Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast, By Product Type
6.3. Market Size and Forecast, By Payment Mode
6.4. Market Size and Forecast, By Technology
6.5. Market Size and Forecast, By Region
7. Mexico Quick Commerce Market Segmentations
7.1. Mexico Quick Commerce Market, By Product Type
7.1.1. Mexico Quick Commerce Market Size, By Food & Groceries, 2018-2029
7.1.2. Mexico Quick Commerce Market Size, By Stationary, 2018-2029
7.1.3. Mexico Quick Commerce Market Size, By Personal Care Items, 2018-2029
7.1.4. Mexico Quick Commerce Market Size, By Small Electronics & Accessories, 2018-2029
7.1.5. Mexico Quick Commerce Market Size, By Others, 2018-2029
7.2. Mexico Quick Commerce Market, By Payment Mode
7.2.1. Mexico Quick Commerce Market Size, By Cash on Delivery, 2018-2029
7.2.2. Mexico Quick Commerce Market Size, By Online, 2018-2029
7.3. Mexico Quick Commerce Market, By Technology
7.3.1. Mexico Quick Commerce Market Size, By Application Based Operation, 2018-2029
7.3.2. Mexico Quick Commerce Market Size, By Hybrid Operation, 2018-2029
7.3.3. Mexico Quick Commerce Market Size, By Website Based Operation, 2018-2029
7.4. Mexico Quick Commerce Market, By Region
7.4.1. Mexico Quick Commerce Market Size, By North, 2018-2029
7.4.2. Mexico Quick Commerce Market Size, By East, 2018-2029
7.4.3. Mexico Quick Commerce Market Size, By West, 2018-2029
7.4.4. Mexico Quick Commerce Market Size, By South, 2018-2029
8. Mexico Quick Commerce Market Opportunity Assessment
8.1. By Product Type, 2024 to 2029
8.2. By Payment Mode, 2024 to 2029
8.3. By Technology, 2024 to 2029
8.4. By Region, 2024 to 2029
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures

Figure 1: Mexico Quick Commerce Market Size By Value (2018, 2023 & 2029F) (in USD Million)
Figure 2: Market Attractiveness Index, By Product Type
Figure 3: Market Attractiveness Index, By Payment Mode
Figure 4: Market Attractiveness Index, By Technology
Figure 5: Market Attractiveness Index, By Region
Figure 6: Porter's Five Forces of Mexico Quick Commerce Market

List of Tables

Table 1: Influencing Factors for Quick Commerce Market, 2023
Table 2: Mexico Quick Commerce Market Size and Forecast, By Product Type (2018 to 2029F) (In USD Million)
Table 3: Mexico Quick Commerce Market Size and Forecast, By Payment Mode (2018 to 2029F) (In USD Million)
Table 4: Mexico Quick Commerce Market Size and Forecast, By Technology (2018 to 2029F) (In USD Million)
Table 5: Mexico Quick Commerce Market Size and Forecast, By Region (2018 to 2029F) (In USD Million)
Table 6: Mexico Quick Commerce Market Size of Food & Groceries (2018 to 2029) in USD Million
Table 7: Mexico Quick Commerce Market Size of Stationary (2018 to 2029) in USD Million
Table 8: Mexico Quick Commerce Market Size of Personal Care Items (2018 to 2029) in USD Million
Table 9: Mexico Quick Commerce Market Size of Small Electronics & Accessories (2018 to 2029) in USD Million
Table 10: Mexico Quick Commerce Market Size of Others (2018 to 2029) in USD Million
Table 11: Mexico Quick Commerce Market Size of Cash on Delivery (2018 to 2029) in USD Million
Table 12: Mexico Quick Commerce Market Size of Online (2018 to 2029) in USD Million
Table 13: Mexico Quick Commerce Market Size of Application Based Operation (2018 to 2029) in USD Million
Table 14: Mexico Quick Commerce Market Size of Hybrid Operation (2018 to 2029) in USD Million
Table 15: Mexico Quick Commerce Market Size of Website Based Operation (2018 to 2029) in USD Million
Table 16: Mexico Quick Commerce Market Size of North (2018 to 2029) in USD Million
Table 17: Mexico Quick Commerce Market Size of East (2018 to 2029) in USD Million
Table 18: Mexico Quick Commerce Market Size of West (2018 to 2029) in USD Million
Table 19: Mexico Quick Commerce Market Size of South (2018 to 2029) in USD Million