The latest publication from Hamburg-based market research company yStats.com titled “Latin America B2C E-Commerce Market 2024” unveils a significant surge in the region’s digital commerce landscape, with forecasts indicating a remarkable growth trajectory.
Latin America Leads in Online Shopping Engagement
The global B2C E-Commerce market is forecasted to rise over EUR 7 trillion by 2026, demonstrating a robust CAGR of more than 9%. Latin America stands out globally with the highest share of online shoppers making frequent purchases, with more than half of users making online purchases several times a month.
Moreover, almost 80% of social media users in Latin America are active purchasers, far exceeding other regions. This emphasizes the region’s strong adoption of digital commerce and the significant role of social media platforms in driving consumer engagement and sales within the Latin America region.
Brazil’s B2C E-Commerce market is set for robust growth by 2026
By 2026, Brazil will lead the B2C E-Commerce region in Latin America, reaching over EUR 400 billion with a projected CAGR of +17%. Pix, the online payment method, is expected to account for almost half of Brazil’s online payment transactions by 2026. Whereas, Mexico’s B2C E-Commerce market is set to reach more than EUR 160 billion with remarkable CAGR by 2026. In addition to that, Latin America underlines the increasing integration into the global digital marketplace as cross-border B2C E-Commerce sales in the region are expected to reach over EUR 130 billion by 2026.
As Latin America continues to embrace digital commerce, opportunities abound for businesses to tap into this thriving market. Understanding consumer preferences and building trust are essential for sustained success in the region’s dynamic B2C E-Commerce landscape.
