CONTINUES TO TALK

Mexico 2018 | TELECOMS & IT | COLUMN

TBY talks to Peter Ostroske, CEO, OFI.com.mx, on the sector.

Peter Ostroske

What is your general assessment of and outlook for the e-commerce sector in Mexico?

People often paint e-commerce as an underdeveloped opportunity in Mexico; however, when we look at the numbers, it is a different story. The e-commerce industry in Mexico is growing close to 40-50% YoY, and customers are getting increasingly comfortable purchasing via e-commerce platforms. While a great deal of media that continues to talk about fraud and customer confidence of platforms are no longer valid, the challenge is more about user experience and finding out what customers truly need. E-commerce accounts for more than 10% of the GDP in the US compared to less than 2% in Mexico, so the growth prospects are massive.

What is your strategy to become the largest e-commerce platform in Latin America by 2020?

Our goal is to surpass USD100 million in revenue by 2020. The company was founded in 2014, and 2020 will be our seventh year of operations. Colombia and Mexico are our focus areas and we will continue to gain more market share. In Latin America, IT solutions is a USD120-billion market opportunity, and we will continue to open more markets via the e-commerce platform.