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E-Commerce turnover in Brazil in the last two years totalled US$19.7 billion says a new study.
Produced by major payment platform VISA, the study confirmed that acceptance of e-Commerce in Brazil is on the increase. VISA has created an e-Readiness measure that calculates the acceptance of e-Commerce by consumers and businesses. Currently, the e-Readiness indicator for Brazil is at 67.9%. This compares with 54.8% for Latin American and, for a European comparison, 82.6% for France.
In terms of the most important market segments which are also considered by the e-Readiness measure, clothing and footwear are leading the way in terms of sales growth. The other most important segments are consumer electronics, video games and household appliances.
In Brazil, VISA has divided the consumer population into four main categories: professional surfer, explorer, spectator and traditionalist.
The professional surfer, which makes up 39.8% of consumers, is said to shop online at least once a month and prefers local operations, as well as specialised companies. They pay by credit card. Next come explorers and these make up 37.6% of the population. They make an internet purchase between one and eight times a year, prefer local businesses and also pay by credit card. The spectators, 15.4%, only rarely use the internet to shop and the traditionalists, 7.3%, buy only from physical stores.
As regards e-Commerce growth in the region, VISA reports: “…the size of e-Commerce in Latin America is significantly lower than in other regions of the world. However, grows extremely fast pace, only surpassed by the Asia-Pacific region (12.9% versus 16.5%).”
The expected growth rate for the Latin American e-Commerce market will be roughly 13% by 2018 says VISA. In terms of the e-Commerce representation in the region, Brazil is top at 42%, followed by Mexico (19%) and Argentina (12%).
allpago international is the leading payment provider for the LATAM region. allpago provides the most relevant local payment methods through one API and one single platform. Allpago offers the best conversion rates ensuring state-of-the-art technology and legal advice necessary for a successful e-Commerce operation in Latin America.
allpago enables start-ups to Fortune 500 companies to offer the necessary local payment methods in the Latin American market, which account for around 80% of their revenues. Current clients include Art.com, Getty Images, Intel Security McAfee, Norton Symantec, Paylogic, Sumup, Teamviewer and many other leading payment and digital companies.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
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