In the age of digital connectivity, Latin America has emerged as a region with exponential growth in e-commerce. With smartphone adoption on the rise and increased reliance on online transactions, e-commerce trends are reshaping the way consumers shop and businesses operate in the region. In this article, we will explore in detail the most relevant e-commerce statistics in Latin America and how this trend is influencing various industries.
Accelerated Growth: E-commerce in Latin America has seen significant annual growth. According to eMarketer, online retail sales in the region increased by 27.1% in 2021, reaching $94.95 billion USD. This figure is expected to continue to rise, reaching $116.54 billion USD in 2023.
Smartphone Adoption: The use of mobile devices is a key driver of e-commerce growth in Latin America. According to the Argentine Chamber of Electronic Commerce (CACE), 83% of online transactions in Argentina are done through mobile devices. In Mexico, this number is even higher, reaching 92%.
Online Payment Methods: The adoption of online payment chile mobile database methods has also seen an increase. The use of credit and debit cards remains popular, but digital wallets are also gaining ground. A report by Americas Market Intelligence reveals that 26% of Internet users in Latin America use digital wallets as a payment method.
Market Growth: E-commerce in Latin America is constantly expanding, and is projected to continue growing in the coming years. By 2025, the e-commerce market in the region is estimated to reach $200 billion, according to a report by Americas Market Intelligence.
Influence of Social Media: Social media plays a key role in e-commerce in Latin America. According to a study by Kantar, 62% of consumers in the region have purchased products or services after seeing them on social media platforms. This has led to an increase in social commerce strategies by brands.
Growth Sectors: Various sectors are experiencing significant growth in e-commerce in Latin America:
Fashion and Accessories: According to a Linio report, fashion is the largest e-commerce sector in the region, representing 17.5% of total online sales.