But while Latin America’s e-commerce sales amassed more than $100 bn in annual spend in 2018, the region remains largely untapped. E-commerce makes up a mere 2% of the region’s total GDP and fewer than 1 in every 4 people are online shoppers. In stark developmental contrast, in North America, e-commerce constitutes 5% of GDP and 6 out of 10 people shop online.
All this data points in one direction: e-commerce and mobile commerce are surfing a rising wave in Latin America – and savvy players, whether foreign or local companies, are well aware of this potential. In this section, you will be able to get e-commerce news and stay up to date on Latin America’s business opportunities. Take a look at what you will find here:
- e-commerce news: find e-commerce daily news about the sector in Latin America
- e-commerce marketing news: read about the strategies of the most important players in the market
- e-commerce platforms: get to know who are the big companies betting on the region
- e-commerce business news: market updates and opportunities in the e-commerce sector
E- commerce news
While rising rates of internet connectivity and mobile adoption are taking Latin America by storm, one of the sectors that have been taking advantage of this great timing in the region, is, undoubtedly e-commerce. Latin America is the world’s second-fastest growing e-commerce market, expanding 25% annually through 2021, according to information from Americas Market Intelligence.
With plenty of room for growth, e-commerce platforms betting on markets like Brazil, Mexico, Chile, and other Latin American countries found in the region a business potential that are virtually a blue ocean of opportunities.
E-commerce payment: Latin America’s potential
Hand in hand with the e-commerce growth in Latin America, another sector has been having a great momentum in the region: payments. And since Latin America is watching a surge of new players such as fintechs, digital wallets and neobanks born and grow, this should come as no surprise. After all, Latin Americans are looking for better and innovative solutions to their daily tasks and this can explain why the digital payment behavior, like carrying out an e-commerce payment, comes as a natural response from consumers eager to have technology as a tool to solve everyday problems.
And it’s not by chance: with a population each day more connected and with more access to mobile solutions (keep in mind that its first economy, Brazil, is the fifth-largest internet and smartphone economy in the world, with 236 million mobile subscriptions), the digital payment behavior, like carrying out online payments, comes as a natural response from consumers eager to have technology as their main ally to solve everyday problems.
E-commerce payment: Future trends
With such a booming growth, when it comes to e-commerce news, it is of major importance not only to be up to date with the markt, but also to keep an eye on what are the trends growing in this sector. That’s why we are always watching closely the steps of the big players to bring you the key takeaways on what are the recent shifts on the Latin American e-commerce payment market.
Ensuring seamless payments, reducing friction on the shopping journey without compromising security. LABS learned from Mastercard, Visa and Elo that this is the goal of the e-commerce payment industry in the coming years – and to achieve this, the bet is to reconcile the adoption of tokenization and the 3DS 2.0 authentication protocol.
E-commerce daily news: Stay tuned to LABS!
From up-to-date information to in-depth analysis, here you will be able to get only what matters on e-commerce news in Latin America – one of the most promising sectors in the region. Want to get more insights on the region’s e-commerce market? So stay connected to LABS and enjoy the reading!
