Booming e-commerce in Latin America (International Perspective)

Core reading

During the period of epidemic prevention and control, online shopping demand in Latin America increased significantly, and e-commerce economy rose against the trend. Regional countries take measures to actively support the development of e-commerce, and some e-commerce enterprises continue to speed up the construction of logistics and other infrastructure. The analysis shows that the vigorous development of e-commerce is conducive to stabilizing employment and promoting economic transformation in Latin America.

According to a recent report released by Market Research Institute emarketer, the sales volume of e-commerce in Latin America will increase significantly in 2020, reaching US $84.95 billion, an increase of 19.4% over 2019. By 2022, this figure is expected to exceed $100 billion. Analysis shows that online sales will become one of the main forms of retail industry in Latin America, and at least 25% of retail orders in regional countries will be completed online in the future.

Rapid growth of multinational e-commerce market

“The daily delivery volume is very large, and I have become friends with many express brothers.” Flavio, a security guard in a community in Rio de Janeiro, Brazil, told reporters. In order to ensure the express service during the epidemic prevention and control period, the community began to collect express and carry out simple disinfection.

During the period of epidemic prevention and control, more and more Latin American people began to “touch the net”, and more and more enterprise sales models turned to online. Many enterprises began to use the online platform to open up sales, retain old customers and open up new customers. The fast-growing express industry also provides more and more jobs.

Among the 32 Latin American countries and regions tracked by emarketer, Argentina’s retail e-commerce market grew the fastest, with a growth rate of 79%, Brazil’s growth rate was 35%, ranking fourth, and Mexico’s growth rate was 27%.

According to other statistics, since the outbreak prevention and control, the number of e-commerce applications installed in Brazil has increased by 99.3% over the same period last year, followed by Chile by 58.5% and Peru by 29.4%. 49% of the respondents said that online shopping expenses increased during the epidemic prevention and control period, and 17% of them tried online shopping for the first time. According to a survey recently released by the Brazilian E-Commerce Association, 56% of consumers buy online for the first time, and 94% of them are willing to keep this consumption habit.

Julia Avila, Brazil director of Nielsen market research company, which is engaged in market monitoring and data analysis, pointed out that e-commerce enterprises know how to act quickly to meet demand and have formulated basic growth strategies. More intelligent applications, faster logistics and more perfect laws and regulations support the development of e-commerce industry.

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