Findings published in yStats.com’s recent report, “Brazil B2C E-Commerce and Payment Market 2022”, reveal that Brazil is among the fastest growing countries globally in terms of online retail sales. The secondary market research firm from Hamburg, Germany, yStats.com, cites market statistics to demonstrate continuing growth in Brazil’s B2C E-Commerce, after the COVID-19 pandemic. Brazil’s B2C E-Commerce market continues to thrive with the widespread adoption of online shopping and digitalization of payments in the country.
The shift towards online shopping continues
In recent years, online retail sales in Brazil have been accelerating with nearly half of the Brazilian population reported to have shopped online by the end of 2020. In 2021, Brazil’s total B2C E-Commerce sales value soared, increasing by a high two-digit percentage rate in the first half of the year, compared to that of 2020. Aside from the rise in domestic B2C E-commerce sales value, cross-border online shopping is also an important segment in Brazil, accounting for a significant portion of Brazil’s total B2C E-Commerce sales value. A forecast cited in the yStats.com report suggests that in 2022, cross-border internet sales in Brazil could approach a share of almost one third of B2C E-Commerce orders.
Leading shopping websites continue to thrive, post COVID-19 outbreak
Ranked the highest among the top 5 E-Commerce websites in Brazil is the Brazilian subsidiary of Argentine-based Mercado Libre, mercadolivre.com.br. Leading shopping websites also include Americanas.com.br, Amazon.com.br, Olx.com.br, and Magazineluiza.com.br, with Brazil’s share of total visits accounting for over 90% to .com.br websites, as spelled out in the yStats.com report. Furthermore, among the top categories searched for over the internet was electronics, followed by food, fashion, and entertainment as cited in a survey in this yStats.com report.
Digital payments are on the rise
When shopping online, consumers in Brazil prefer the use of credit cards. A forecast cited in the yStats.com report predicts that credit cards will remain the leading payment method in Brazil, with a share of more than two-thirds in 2023. The COVID-19 crisis has spurred the manifold increase in the use of contactless payments with cards or digital wallets; however, there is some hesitancy towards mobile payments in terms of trust. Nevertheless, digital payments are on the rise with WhatsApp payments accounting for millions in users. The publication also points to Brazilian consumers favoring comfort and speed as incentives to using certain delivery apps.