Stay in the loop
Sign up for event alerts, as well as insights from our experts.
Latest figures show that retail e-Commerce sales in Latin America are growing rapidly, with sales pushing the $50bn level this year.
Figures from eMarketer estimates that regional e-Commerce sales will come close to the $50 billion mark in 2015, which represents an increase of nearly 24%.
Brazil continues to dominate the market in terms of sales, but Argentina gets the top prize for growth.
Brazil alone came close to achieving $20 billion in sales and this represents a larger share of the total retail market than any other country in LATAM. Yet, that share is only 2.8%, a small fraction of the market.
Following Brazil in second place comes Mexico, which has notched up retail e-Commerce sales of $5.7bn this year, some 1.5% of total retail sales.
Argentina is the country which is growing most rapidly; it has already recorded retail e-Commerce growth up 40% to just below $5bn.
eMarketer forecasts up to 2019 when it predicts that by then total retail e-Commerce sales in LATAM will have reached $84.75bn ($57.02bn in 2016, $66.59bn in 2017 and $75.32bn in 2018). By 2019 growth will have slowed to 12.5%, moving gradually down from the 29.8% growth achieved in 2014 (20.4% in 2016, 16.8% in 2017 and 13.1% in 2018). And by 2019, the retail e-Commerce percentage share of the total retail sales market in LATAM of 3.2%, compared to the 2% recorded in 2014 (2.5% in 2016, 2.8% in 2017 and 3% in 2018).
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 franky242 at FreeDigitalPhotos.net
Explore other insights
You might enjoy these other nuggets of wisdom.