A Growing Retail Landscape in Mexico
Despite uncertain global conditions, Mexico has emerged as an attractive destination for international retail brands, driving the growth of shopping centers in the country.
According to CBRE, 2018 saw a historical high with the entry of 16 new brands, four of which were from Asian origins. By July 2025, the market already registered 10 new international chains, surpassing the total of nine brands in 2024.
“International brands have found in the country a good consumer acceptance, and in some cases, they consider it as the best destination for their entry into the Latin American market in their global expansion strategy,” stated CBRE.
Key Players and Market Segments
This year, the United States and Spain have led new participants with three and two brands, respectively. The most active segments have been fast fashion, designer clothing, and sportswear, perceiving Mexico as an expanding market.
Future Shopping Center Projects (2026-2028)
With the arrival of new brands and consumer interest in physical experiences, several shopping centers are projected to open between 2026 and 2028 in cities like Los Cabos, Monterrey, Torreón, Mérida, Oaxaca, and Mexico City.
- By the end of the first half of 2025, shopping center construction in Mexico remains at over 323,000 square meters (m²).
- Six projects are estimated to open before the end of the year, adding approximately 140,000 m² to the national inventory.
These developments belong to the lifestyle and mixed-use center segment, with a strong focus on entertainment, gastronomy, and more comprehensive consumption experiences.
One notable example is a shopping center in Los Cabos, which at 86% construction progress already has 98% leased space and is expected to open by the end of 2025.
Consumer Cautiousness
The thriving retail sector occurs amidst a context where the Instituto Nacional de Estadística y Geografía (Inegi) Consumer Confidence Index reached 45.4 points by the end of the sixth month.
Although it reflects some caution regarding international prospects, the index also showed a monthly increase in families’ expectations about their future economic position, explained CBRE.
“This caution might be part of the evolving consumer behavior, as concluded from the Hot Sale 2025 study. The Mexican consumer contemplated a purchasing strategy with fewer transactions but higher ticket value.”
Key Questions and Answers
- Q: Why is Mexico an attractive destination for international retail brands? Mexico has seen a good consumer acceptance of international brands, and some consider it the best entry point into the Latin American market for their global expansion strategy.
- Q: Which countries have led new participants in the Mexican retail market this year? The United States and Spain have led new participants with three and two brands, respectively.
- Q: What market segments have shown the most growth in Mexico? Fast fashion, designer clothing, and sportswear have perceived Mexico as an expanding market.
- Q: What types of shopping centers are projected to open between 2026 and 2028 in Mexico? Lifestyle and mixed-use centers focusing on entertainment, gastronomy, and comprehensive consumption experiences are projected to open in various cities.
- Q: How does consumer behavior reflect caution in the current market? Despite some caution regarding international prospects, the Consumer Confidence Index shows a monthly increase in families’ expectations about their future economic position, indicating a shift towards fewer transactions with higher ticket value.
