Latin America's e-commerce industry is developing rapidly, and Brazil may become a battleground for e-commerce giants

According to the B2C e-commerce industry survey report for the second quarter of 2022 , the Latin American e-commerce market is expected to achieve a year-on-year growth of 18.87 % in 2022 to reach US$164.1 billion.

The report predicts that the Latin American B2C e-commerce industry will grow at a compound annual growth rate of 14.78% during the period 2022-2026 . By 2026, the total market value of the industry in the region will increase from US$138.1 billion in 2021 to US$284.8 billion.

As the e-commerce market continues to expand and the number of online shoppers continues to increase, major e-commerce giants have chosen to enter the market and invested billions of dollars in order to occupy more market share.

In the next three to four years, as mature markets such as Europe and the United States reach saturation, Brazil is expected to become the next stop for major giants looking to grow their business.

As Brazil’s B2C e-commerce industry has taken off, online shopping via mobile devices has also seen strong growth in the past few years.

One of the main reasons is the rapid popularity of social commerce, and live streaming has reached millions of consumers in Brazil.

Data shows that Brazilian consumers have shown great interest in international e-commerce platforms such as Amazon. At a time when the local e-commerce industry has not yet fully matured, online sellers can attract consumers and obtain more orders by increasing product categories and offering more favorable prices.

In addition, with the rapid popularity of digital payments in Brazil, global e-commerce giants plan to launch their payment services in Brazil.

The rise of the e-commerce industry has boosted digital payment services in Brazil. As most Brazilians still do not have their own bank cards, global e-commerce giants are seeking to launch payment services in Brazil, which will be another market with huge development potential.

Brazil

E-commerce