E-Commerce In Latin America Witnesses Robust Growth As Consumers Tend To Purchase Products Online Since The Advent Of COVID-19 Pandemic
El nuevo estudio de Informes de Expertos titulado “Mercado Latinoamericano del Comercio Electrónico, Informe y Pronostico 2022-2027″, ofrece un análisis profundo del mercado, evaluándolo por el tipo, la transacción y las regiones clave. El informe analiza los factores clave de éxito y las limitaciones, también rastrea las últimas tendencias en la industria y estudia su impacto en el mercado en general. Además, evalúa la dinámica del mercado, cubriendo los indicadores clave de demanda y precio, junto con el análisis del mercado basado en los modelos FODA y las Cinco Fuerzas de Porter.
The new report by Informes de Expertos titled, ‘Latin America E-Commerce Market Report and Forecast 2022-2027’, gives an in-depth analysis of the market, assessing on the basis of type, transaction and key regions. The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): X%
The E-commerce market is thriving in Latin America in recent years. The region was the second fastest-growing market in 2020. The rapid growth of the market can be attributed to the increasing penetration of the Internet among consumers. Studies reveal that there are more than 450 million internet users in Latin America, which is a major growth-inducing factor in the market. The ever-increasing use of electronic devices like laptops, smartphones, tablets, etc. is further boosting the market growth, as these devices act as a source to buy products online.
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Rising penetration of social networks is also likely to shape the industry growth since these platforms are proving to be very effective in engaging a larger target audience and making them aware of various goods and services on a large scale. Furthermore, rapid urbanization and technological advancements in the industry are also contributing significantly to market growth.
Furthermore, the COVID-19 outbreak, and the ensuing closures have further shifted consumers’ shopping habits as they are confined to their homes and are increasingly adopting online platforms to order essentials and other products. Groceries and personal care segments are expected to be the fastest growing e-commerce sections in the forecast period. Moreover, the increasing adoption of delivery apps by consumers will considerably facilitate market growth.
Industry Definition and Major Segments
E-commerce refers to the act of buying and selling services and goods through an online portal. It enables companies and organizations to conduct business without physical contact, and by doing so, it minimizes infrastructure, communication, and overhead costs.
By type, the market is divided into:
- Household Appliances
- Clothing and Footwear
- Cosmetic Products
According to the transaction, the market has been segmented into
Key regions covered include:
The e-commerce market in Latin America is witnessing major trends in the historical period and is expected to register rapid growth in the forecast period. E-commerce has allowed companies to establish a wider presence in the market and offer their goods and services and increment their consumer base. Various features of online retail channels like express home delivery, wide product portfolio, discounts etc., are appealing the Latin American consumer’s eye, thus, stimulating the market growth.
The market witnesses an upsurge in the sales during Sundays and other holidays as huge traffic of consumers is experienced on such days and a large number of orders are placed. It is also noticed that digital platforms are tremendously used for buying essential and other products on promotional days like Black Friday, Cyber Monday, Singles day etc. as consumers receive huge discounts on purchasing products during such days.
Regionally, Brazil is registering a high growth rate in e-commerce industry accounting for almost 50% of electronic commerce sales in the Latin American region. Consumers in the region shop online most frequently (almost once a week), whereas in Mexico and Colombia, consumers are seen shopping online every fortnight. A major key player of the industry, Mercado Libre reported more than 17 million new buyers during the pandemic and this number is growing tremendously ever since.
Key Market Players
The major players in the market are:
- Amazon.com Inc.
- B2W Companhia Digital (Lojas Americanas S/A)
- Ebay Inc.
This report covers the market shares, expansions, investments and mergers and acquisitions, among other latest developments of these industry players.
Informes de Expertos (https://informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
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