All posts with the tag Mexico
Whether it’s coverage of Cinco de Mayo celebrations or proposals of building walls along the southern US border, Mexico has been getting a lot of press lately. Mexico is quite controversial not only in US politics, but in the world of eCommerce as well. On the one hand, it’s the 2nd largest eCommerce market in Latin America, with over 51 million internet users. More than half of Mexican eCommerce shoppers frequent international websites, with online purchases by Mexican consumers expected to hit $22 billion this year, and $40.8 billion by 2019. On the other hand, Mexico has a bad reputation when it comes to online fraud, with a chargeback rate 2.8 times higher than the global average in 2015. Fear of fraud leads many eCommerce merchants to shut their virtual doors to Mexican consumers.
In this post, I’ll share some stats that demonstrate how businesses who block Mexican orders are making a costly mistake – turning away many good customers and a lot of sales revenue. I’ll also provide tips for managing fraud from this market.