Latin America Ecommerce Forecast 2021
While 2020 will go down in history as one of the most tumultuous years for the retail industry in Latin America, it will also be remembered as the year the region became the e-commerce market of fastest growing retail in the world.
How? ‘Or’ What has the coronavirus pandemic impacted total retail sales in Latin America?
Physical store closures, coupled with government-imposed closures, hurt retailers’ results last year. This year, retail sales are returning to growth in each of the countries we anticipate.
Why has 2020 been a pivotal year for retail e-commerce in Latin America?
Until the pandemic, retail e-commerce was still in the early stages of consumer adoption. But in 2020, as retailers and consumers alike quickly turned to e-commerce, sales soared 63.3% and topped the $ 100 billion mark for the first time.
To what extent do Latin American consumers prioritize e-commerce?
From 2016 to 2019, the share of mobile in e-commerce retail sales in Latin America almost doubled from 20.9% to 40.2%. This year, we predict that almost half (48.8%) of e-commerce retail sales will be on mobile devices.
How has the pandemic accelerated the growth of digital shoppers in Latin America?
2020 has been a banner year for the growth of digital buyers in the region. We predict that 38.0 million consumers in Latin America were digital shoppers for the first time in 2020. This year the total number of digital shoppers will reach 248.7 million, nearly half of the region’s population. aged 14 and over.
WHAT IS IN THIS REPORT? This report presents our latest forecast for total Latin America retail, e-commerce and m-commerce sales, with breakdowns for Argentina, Brazil and Mexico. It also examines the main drivers fueling regional market movements in 2021 and beyond.