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Fast facts:

Latin America

When it comes to online shopping, one of the top emerging markets in the post-pandemic era is Latin America. The market simply cannot be ignored, with a current digital buyer base of more than 300 million who have welcomed online shopping.

The revenue from eCommerce in 2023 was US$94.41bn in 2023, and is expected to resulting in a projected market volume of US$156.10bn by 2027.

When you break this down at a regional level, Brazil and Mexico are clearly in the lead, but there is also swift growth evident in Argentina, Colombia, and Peru who’ve been drawing attention in eCommerce trade.

eCommerce in Latin America:

Retail eCommerce Sales

$168bn

Retail mCommerce Sales

$76bn

eCommerce Buyers

300 million

eCommerce share in Total Retail Sales

11%

eCommerce Growth Rate

13.4%

Fastest Growing Latam eCommerce Markets

Brazil

Mexico

Chile

Argentina

Colombia

Peru

HKTDC Research

Latin America Has Become Mobile-first

Latin America sees around 60% of online purchases made via mobile. The region’s mobile retail e-commerce sales would be about $75.7bn, nearly three times more than in 2019, before the COVID-19 pandemic hit.

Although Brazil leads the pack in mCommerce sales revenue, Mexico steams ahead in terms of mobile segment participation in overall online retail sales.

Demographics

Population 440.61 million

Internet users:

84.4%

Median Household income:

$4000 to $8000

Employment rate:

90% on average

Median Age:

32.1 years

Sources: Worldometers.info, internetworldstats, worldpopulationreview, theglobaleconomy, Worldometers.info

eBook: Overcoming International eCommerce delivery challenges

Shopping Online – Key Product Categories

(ESW, Statista)

Statista.com

Wondering how to sell into Latin America? We can help!

Top Online Marketplaces

Mercado Libre is the most visited online marketplace in Latin America, the Argentine eCommerce sits right at the top of the pyramid. Just in Brazil, the marketplace welcomed over 110 million shoppers to its platform. (Source: Webretailer)

667.7m

451m

169m

129.6m

83.6m

40.7m

28.5m

Delivery Preferences in Latin America

61%

of shoppers say that a positive delivery experience will encourage them to shop again with an online retailer. (DHL)

58%

of shoppers say that a positive delivery experience will encourage them to shop again with an online retailer. (DHL)

35%

of buyers check a retailer’s returns policy prior to purchase, with 56% of shoppers saying the policy has impacted their purchase decision. (DHL)

Click & Collect

The introduction of Click & Collect has been well received by online shoppers in Latin America, who find this option more feasible and reasonable to get their parcels. (Internet Retailing)

Insider tips:

  • Access to credit cards is limited in Brazil and one of the most popular payment methods is Boleto Bancário, which is similar to an invoice
  • Chile is considered the most aware of environmental issues, so second-hand goods are very popular on online marketplaces (SantanderTrade, 2021)
  • In Mexico, the demand for organic products is fast developing, growing at a rate of 10% each year as Mexicans are becoming more aware of leading healthy lifestyles. The demand for natural and artisanal products is also increasing

GFS International Transit Times

CountryGFS eCommerce ExpressGFS eCommerce PlusGFS eCommerce Economy
Brazil2-5 days6-14 days6-11 days
Mexico2-5 days6-11 days6-12 days
Chile2-5 days6-13 days6-9 days
Argentina2-5 days5-8 days7-15 days
Colombia2-5 days2-5 days2-5 days
Peru2-5 days5-12 days8-11 days

*Fastest transit time is GFS International Express Service, longest transit time is GFS International Economy.

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