Market Research Report
Latin America B2C E-Commerce and Payment Market 2020 and COVID-19's Impact
|Published by||yStats.com GmbH & Co. KG||Product code||954013|
|Published||Content info||179 Pages
Delivery time: 1-2 business days
|Latin America B2C E-Commerce and Payment Market 2020 and COVID-19's Impact|
|Published: August 5, 2020||Content info: 179 Pages||
"Spread of COVID-19 Brings Upswing in Online Retail in Latin America."
E-Commerce's low share of total retail sales in the Latin American region reflects a slower take-off for online shopping compared to Europe or North America. The largest economies of the region, Brazil, Mexico, and Argentina have experienced double digit sales growth of online retail in recent years, yet its share of all retail remains a low single digit percentage, as reported in the yStats.com report. The spread of COVID in the second quarter of 2020 has produced a surge in online shopping, pushing new customers to the practice and driving returning consumers to order more, causing analysts to raise their forecasts of future digital sales growth.
Another interesting fact highlighted in the yStats.com report is that the Latin American region has a home-grown online merchant that is the top seller in several nations, including Argentina, Brazil, Chile, Ecuador, and Mexico. Mercado Libre also has a payment processing subsidiary, Mercado Pago, which is used widely in the region even on other online platforms. The sales figures of Mercado Libre provide insight to the effects of the health pandemic: sales increased by substantial percentage, more than doubling in one nation. Mercadolibre.com's most requested products at the beginning of the coronavirus crisis were face masks and hand sanitizer.
Alibaba Group Holding Ltd, Almacenes Exito SA, Alphabet Inc., Amazon.com Inc., B2W Cia Digital, Cencosud SA, Coppel SA de CV, eBay Inc., Encuentra24.com AG, Falabella SA, Fravega S.A.C.I. e I., Liverpool Mexico SA de CV, MercadoLibre Inc., OLX Group, Ripley Corp SA, Samsung Electronics Co Ltd, Speedy Honduras, TiendaMIA Xipron INC, Walmart Inc., Wish Inc.