Mexico Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Market Size and Forecast; Spend Analysis by Digital / e-Gift Card, Retail and Corporate Consumers, Distribution Channel, Occasions, Retail Sectors, Open Loop,

According to PayNXT360, gift card market in Mexico is expected to grow by 10.6% on annual basis to reach US$4,293.5 million in 2025.

The gift card market in the country experienced robust growth during 2020-2024, achieving a CAGR of 11.7%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 9.4% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 3,881.0 million to approximately USD 6,144.0 million.

This report provides a detailed data-centric analysis of the gift card sector in Mexico, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the country level, this report provides a comprehensive understanding of gift card market dynamics.

It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

Key Insights

The social commerce industry in Mexico is undergoing significant transformation, fueled by high consumer engagement on platforms such as Facebook, Instagram, and WhatsApp. The growing reliance on social media for product discovery and purchasing decisions is expected to drive market expansion. However, regulatory changes, including new import tariffs, may alter the competitive landscape by influencing pricing and consumer preferences. While these measures aim to protect local businesses and boost tax revenues, they may also encourage consumers to shift toward domestic retailers and platforms that benefit from favorable trade agreements. Businesses that proactively adapt to these regulatory changes while leveraging social commerce strategies are well-positioned to capitalize on the industry's projected growth over the next few years.

Rising Adoption of Social Commerce Platforms
• Mexican consumers increasingly turn to social media platforms to make purchases, with Facebook, Instagram, and WhatsApp leading the trend. In 2022, approximately 67% of online shoppers in Mexico reported buying through social commerce, indicating a shift in how consumers interact with brands. The ease of browsing and purchasing directly within these platforms has contributed to their growing popularity.
• The widespread use of social media, with Mexican users spending over three hours daily on these platforms, has created an environment conducive to social commerce. Consumers trust these platforms for brand and product recommendations, reinforcing their role in purchasing decisions. As social networks continue integrating shopping functionalities, businesses adapt their marketing strategies to engage with customers directly through these channels.
• Platforms will likely introduce enhanced shopping features, streamlining the purchasing process and making transactions more seamless. As more consumers embrace social commerce, businesses that invest in optimizing their presence on these platforms will be well-positioned to capture growing demand.
Strategic Collaborations Enhancing Social Commerce
• The growing appeal of social media among younger demographics is a key driver of this trend. Platforms such as TikTok are particularly popular among Gen Z and millennials, making them attractive avenues for brands that capture this audience’s purchasing power. Additionally, companies aim to create innovative shopping experiences, such as seamless in-app purchases, to differentiate themselves in a competitive digital marketplace.
• Over the next 2-4 years, these collaborations are expected to drive diversification in sales channels, with more businesses exploring social media partnerships to expand their market presence. The increasing integration of commerce into social media platforms will also lead to more interactive and engaging shopping experiences, fostering greater consumer loyalty. Brands leveraging these partnerships will gain a competitive edge in Mexico’s evolving social commerce landscape.

Regulatory Changes Affecting Social Commerce
• The introduction of new import tariffs in Mexico is expected to significantly impact online retailers and social commerce activities. As of January 2025, a 19% tariff is being imposed on goods imported from countries that do not have free trade agreements with Mexico. This policy directly affects major online retailers such as Shein and Temu, potentially altering the landscape of social commerce and cross-border e-commerce.
• The primary drivers behind this regulatory change are the government’s efforts to protect domestic businesses and increase tax revenue. By reducing the influx of low-cost imports, the tariffs aim to level the playing field for local retailers competing with international platforms offering cheaper alternatives. Additionally, the government sees e-commerce growth as an opportunity to generate higher tax revenues, ensuring that foreign companies contribute fairly to the Mexican economy.
• Over the next 2-4 years, this shift will likely lead to a change in consumer preferences, with shoppers turning to domestic retailers or platforms operating within favorable trade agreements. As a result, local e-commerce platforms could experience increased traffic and sales as they become more price-competitive compared to international retailers facing higher import costs. Businesses that adapt by strengthening their domestic supply chains and leveraging social commerce for localized engagement will have a competitive advantage in the evolving marketplace.

Competitive Landscape of the Mexico Gift Card Market

The competitive landscape of social commerce in Mexico is evolving, driven by high social media engagement, platform advancements, and regulatory changes. Established platforms such as Facebook and Instagram continue to dominate, while TikTok and WhatsApp Business are emerging as key players in direct-to-consumer sales.
As regulatory policies shape the future of digital commerce, businesses must adapt by focusing on localized strategies, enhancing customer engagement, and leveraging new technologies. Companies that successfully navigate these shifts and invest in social commerce capabilities will maintain a strong position in this dynamic and rapidly expanding market.

Current Market Dynamics
• Social commerce in Mexico is expanding rapidly, with more consumers purchasing products directly through social media platforms. In 2022, approximately 67% of online consumers in Mexico reported making purchases via social media, a trend expected to continue growing. Platforms such as Facebook, Instagram, and WhatsApp dominate the space, with Facebook being the most widely used for transactions.
• The rapid rise of social commerce is driven by high social media engagement, with Mexican internet users spending an average of 3 hours and 20 minutes daily on social platforms. The increasing integration of shopping features within social media apps, such as Instagram Checkout and Facebook Shops, makes it easier for businesses to sell products directly to consumers without requiring third-party platforms.

Key Players and Market Share
• The Mexican social commerce market is currently led by major social media platforms such as Facebook, Instagram, WhatsApp, and TikTok, all of which have introduced shopping features. Local e-commerce players, including Mercado Libre and Linio, also leverage social media to drive sales and consumer engagement. Additionally, small and medium-sized businesses (SMEs) are increasingly using WhatsApp Business for direct-to-consumer sales.
• New entrants, including live-selling platforms and influencers launching their direct commerce brands, are reshaping the competitive landscape. With the rise of influencer marketing, platforms such as TikTok and YouTube are gaining traction as effective sales channels, particularly among younger demographics.

Anticipated Market Evolution (Next 2-4 Years)
• Mexico’s social commerce market is expected to become more competitive, with increased investment in platform integrations, influencer-driven sales, and AI-powered customer engagement. Businesses will likely focus on enhancing live shopping experiences and integrating payment solutions to create a seamless shopping journey.
• The entry of new players and the growing adoption of localized strategies will further drive competition. Domestic e-commerce platforms may gain an advantage due to recent regulatory changes favoring local businesses. Companies that innovate through strategic partnerships, technology adoption, and regulatory compliance will be best positioned to capitalize on this evolving market.

Regulatory Changes
• The Mexican government has introduced regulatory changes that could impact the social commerce landscape, particularly regarding taxation and import tariffs. A key policy change includes the implementation of a 19% import tariff on goods from countries without free trade agreements, which could affect cross-border e-commerce transactions on social platforms.
• Additionally, the government has increased its focus on taxation policies for digital sales, requiring platforms to comply with VAT regulations. This could affect large corporations and independent sellers using social media for direct sales.

Scope

This report provides in-depth, data-centric analysis of gift card industry in Mexico through 100+ tables and 280+ charts. Below is a summary of key market segments:

Mexico Total Spend on Gifts
• By Consumer Segment (Retail and Corporate)
• By Product Categories (13 Segments)
• By Retail Sectors (7 Segments)

Mexico Gift Card Market Size by KPIs across Consumer Segments
• Gross Load Value
• Transaction Value
• Unused Value
• Average Value Per Transaction
• Transaction Volume
• Average Value of Card Purchased
• Number of Cards

Mexico Gift Card Market Size by Consumer Segment
• Retail Consumer
• Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)

Mexico Digital Gift Card Market Size
• By Retail Consumer
• By Retail Purchase Occasion
• By Corporate Consumer
• By Corporate Purchase Occasion
• By Company Size

Mexico Gift Card Market Size by Retail Consumer
• By Functional Attribute
• By Occasion
1. Festivals & Special Celebration Days
2. Milestone Celebration
3. Self-Use
4. Other
• Value by Purchase Channel

Mexico Gift Card Spend by Consumer Behavior and Demographics
• Gift Card Spend by Payment Method
• Consumer Purchase Behaviour
• Gift Card Buyer by Age Group
• Gift Card Buyer by Income Level
• Gift Card Buyer by Gender

Mexico Gift Card Market Size by Corporate Consumer
• By Functional Attribute
• By Occasion
1. Employee Incentive
2. Sales Incentive
3. Consumer Incentive
• By Scale of Business

Mexico Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
• Food & Beverage
• Health, Wellness & Beauty
• Apparel, Footwear & Accessories
• Books & Media Products
• Consumer Electronics
• Restaurants & Bars
• Toys, Kids, and Babies
• Jewelry
• Sporting Goods
• Home & Kitchen Accessories & Appliances
• Travel
• Entertainment & Gaming
• Other

Mexico Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
• Ecommerce & Department Stores
• Restaurants & Bars
• Supermarket, Hypermarket, Convenience Store
• Entertainment & Gaming
• Specialty Stores
• Health & Wellness
• Travel

Mexico Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
• Gift Card Online Sales
• Gift Card Offline Sales
• 1st Party Sales
• 3rd Party Sales
• Sales Uplift

Mexico Gift Card Purchase by Payment Method
• Credit Card
• Debit Card
• Bank Transfer
• Prepaid Card
• Digital & Mobile Wallet
• BNPL & Other Digital Payment
• Cash

Mexico Closed Loop Gift Card Market Share by Key Retailers. Key Retailers Covered Include:
Coppel
Bodega Aurrera
Liverpool
Chedraui
Oxxo
Amazon
Mi Bodega Aurrera
Home Depot
Sam`s Club
El Palacio de Hierro 

Reasons to buy
• Comprehensive comprehension of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Mexico.
• Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
• Learn about the attitudes and behaviours of consumers in Mexico: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
• Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
• Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales. Show more