Business

Digital commerce turnover more than doubled in Brazil, according to the Brazilian Chamber of Digital Economy

Online retail sales grew 122% this year until November in the country, compared to the same period in 2019, according to the entity and Neotrust

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  • Neotrust, which tracks results from major retailers except for MercadoLibre and OLX, reports that in the third quarter of this year, 5.8 million consumers made their first online purchase in Brazil;
  • Much more than the number registered in the same period of 2019, of 4.4 million.

The turnover of digital commerce more than doubled in Brazil, according to data from the Brazilian Chamber of Digital Economy and Neotrust, reported by the Folha de S.Paulo. Online retail sales grew 122% this year until November in the country, compared to the same period in 2019.

This means BRL 115.3 billion in revenue – 86% concentrated in the sector’s giants. Still, the room for growth is large, as online sales account for only 8.6% of retail sales in the country.

READ ALSO: The main e-commerce players in Latin America, according to Similar Web traffic data

Neotrust, which tracks results from major retailers except for MercadoLibre and OLX, reports that in the third quarter of this year, 5.8 million consumers made their first online purchase in Brazil – much more than the number registered in the same period of 2019, of 4.4 million.

READ ALSO: Mercado Libre will surpass $20 billion in e-commerce sales in 2020

The annual research of EBANX, global fintech which owns LABS, Beyond Borders, points out that Latin America as a whole is likely to gain 52 million new online consumers in 2020 thanks to the isolation measures brought about by the pandemic of COVID-19.

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