Revenue at Mexican retailers that sell exclusively online and by catalog grew 17.6% year over year in August 2026, and the merchandise those companies bought for resale grew 173.2%, according to the Monthly Survey of Commercial Companies (EMEC) from INEGI, Mexico's national statistics institute. The INEGI bulletin came out on October 21, 2026; UnoTV covered it the same day.
In short: the headline is 17.6%, but the number that matters for your operation is the other one. Online sales go up and down month to month; inventory purchases have been more than double last year's for three months in a row.
The news, in numbers
The EMEC tracks commercial companies across Mexico. Within retail it breaks out subsector 469: companies that sell exclusively online, by printed catalog, TV and similar channels. Stores that sell in person and also online sit in their own subsectors.
August 2026 versus August 2025, in real terms, preliminary figures (INEGI):
| Subsector 469 indicator | Year-over-year change |
|---|---|
| Revenue from goods and services | +17.6% |
| Total employment | +44.5% |
| Merchandise purchased for resale | +173.2% |
| Average pay | −26.6% |
For comparison: total retail grew 3.2% year over year in August and 1.2% versus July, seasonally adjusted (INEGI).
The number that moves and the one that doesn't
The 17.6% is good news. But one month doesn't make a trend in this subsector. Here are the last three bulletins, all reporting the same kind of figure (year-over-year change, unadjusted, in real terms):
| Month | Revenue | Merchandise bought for resale | Source |
|---|---|---|---|
| June 2026 | +23.2% | +135.4% | EMEC, Aug 21 |
| July 2026 | −7.7% | +197.2% | EMEC, Sep 22 |
| August 2026 | +17.6% | +173.2% | EMEC, Oct 21 |
Revenue jumped from +23% to −8% and then to +18%. Merchandise purchases never dropped below +135% in any of the three months. INEGI doesn't explain why, and we won't make it up. What these figures do show is that companies selling online in Mexico are buying inventory much faster than their sales are growing.
In May, the same subsector had grown 12% and was the fastest-growing retail activity; we covered it in the May bulletin.
What it means for your operation
- More inventory needs more space before it needs more sales. If the sector is buying stock at twice last year's pace, the bottleneck shifts to the warehouse: where goods are received, how long until they're available, and what it costs to have them sitting. Buying well doesn't help if the product stays on the dock.
- Jumpy sales call for planning in ranges. A channel that swings from −8% to +18% in a month can't be planned on an average. Size your safety stock with your real sales variability, not a quiet month's.
- Check your turnover before Buen Fin. Buying extra for the season makes sense; what gets expensive is inventory nobody reviews. Measure how often your inventory turns by SKU, and separate what you'll sell in November from what will sit until January.
- Read the national number as context, not a forecast. The 17.6% is for the whole subsector. It doesn't say how much your store will grow; it says the market you compete in is stocking up hard.
What the data doesn't say
- It isn't all of e-commerce. It only covers companies that sell exclusively at a distance. A chain with physical stores that also sells online isn't in subsector 469.
- The figures are preliminary. INEGI may revise them in later bulletins.
- It doesn't measure prices or margins. More revenue and more purchasing don't mean more profit.
FAQ
How often does INEGI publish this survey? Monthly, with about a two-month lag. The next bulletin, with September data, is scheduled for November 20, 2026 (INEGI).
Why is employment up 44.5% while average pay is down 26.6%? Average pay is pay per person: if many new people are hired, the average can fall even as total payroll grows. The bulletin doesn't break it down, so we can't say more.
If your brand is buying more inventory than its current space can hold, this is how we handle warehousing for e-commerce in Mexico: we receive, count and put away your goods so they're ready to ship.