Digital buyers are defined as internet users which are aged 14 and older, and who make at least one purchase, via a digital channel, a year.
This year, the projected total retail e-Commerce spend will come close to $15 billion. Driving that growing level of spend is an increasing digital buyer base, borne out by the latest figures. The number of digital buyers rose 17.4% last year and will rise again, so the forecast predicts, to 12.9% this year, bringing the total number to 110 million.
At the forefront of this growth in the region is Mexico which started off slowly compared to its neighbours, but will grow by 13.4%, meaning that the digital buyer base will stand at 16.2 million. But, even though this rate of growth is impressive, by 2019, the digital penetration of the country will stand at just around 35%. Compare that to Argentina, which will have a digital penetration of just over 50%.
The original e-Commerce powerhouse in the region, Brazil, will by this year account for a third of all digital buyers. This percentage will stay roughly the same through to 2019.
Although the big three digital players – Brazil, Argentina and Mexico – still dominate the region, the next four markets in terms of population and GDP – Colombia, Chile, Peru and Venezuela – will likely enjoy around a 40% share of all the digital buyers.
Indeed, if you look at the three countries of Chile, Colombia and Peru, these make up a fast-growing base which will outpace in growth terms (64.8 million digital buyers by 2019) their bigger neighbours of Brazil and Argentina.
Overall, by 2019, the level of digital buyer penetration for all countries in the region will have reached 43.8%.
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