Argentina's online transaction volume in 2020 increased by 124% year-on-year, with a total of 251 million products sold!

In 2020, physical stores encountered "unexpected disasters", but online stores ushered in great development opportunities. Moreover, at a time when the world is turning to online consumption and the e-commerce industry has achieved significant development, Argentina, an inconspicuous small country in South America, has achieved the world's first e-commerce growth rate.

According to eMarketer, Argentina will become the fastest growing e-commerce retail market in the world in 2020 with an e-commerce sales growth rate of 79%.

Now that 2020 has come to an end, the corresponding e-commerce development statistics have been released one after another. According to foreign media reports recently, Argentina's e-commerce transaction volume increased by 124% in 2020, driven by the "store closure wave" caused by the epidemic, and the turnover reached US$9.6036 billion.

CACE pointed out in a statement that e-commerce has naturally become the protagonist of 2020 under the shadow of the epidemic, because it is an excellent choice for users to shop online while in isolation at home. In addition, many Argentine consumers have truly realized their first experience of online shopping in 2020 and are constantly expanding the range of products purchased online.

Data shows that the total number of online consumers in Argentina exceeded 20 million in 2020, an increase of nearly 1.3 million from 2019. In addition, in 2020, the number of online purchase orders reached 164 million, an increase of 84% from 2019; 251 million products were sold online, an increase of 72% over the previous year; the average order price was 5,519 pesos, or about US$58.5.

In terms of hot-selling products, online sales of sports products increased by 144% year-on-year compared with 2019 ; online sales of cosmetics and perfume products increased by 121% year-on-year compared with 2019 ; it is also worth noting that although clothing is not one of the best-selling products, it has achieved a growth rate higher than the industry average. Clothing products increased by 161% in 2020 compared with 2019 .

In terms of payment methods, the CACE report confirms that credit cards remain the main choice of Argentine online consumers, accounting for 77%; followed by cash , accounting for 11%; then debit cards , accounting for 7%; finally, e-wallets and bank transfers together account for about 5%.

It is worth mentioning that in terms of people’s e-commerce logistics choices, home delivery became the main logistics choice for Argentine consumers in 2020 , ranking first among all logistics methods, with a selection rate of 56%, while in 2019 this proportion was only 39%; the selection rate of picking up goods through branches fell by 35%, which was as high as 50% in 2019.

Argentina

E-commerce transaction volume