The latest publication from Hamburg-based desk research company yStats.com titled “Latin America B2C E-Commerce and Online Payment Country Profiles 2022” provides insight into the B2C E-Commerce and online payment market in Latin America, summarized into one paged country profiles that include relevant data and forecasts for each respective country. The publication reveals the B2C E-Commerce market size of individual countries in the Latin American region, with Brazil being in the lead.
E-Commerce sales in Latin America are on the rise
After the onset of the COVID-19 pandemic, the E-Commerce market was greatly impacted. In 2020, B2C E-Commerce sales in Latin America surged, growing by nearly two-thirds in 2021. A forecast cited in this yStats.com report suggests that B2C and B2B E-Commerce sales in the Latin American region are projected to accelerate to reach a value of approximately USD 800 billion by 2025, more than three times 2020’s sales value. In 2021, domestic B2C E-Commerce sales were estimated to account for above 85% of B2C E-Commerce sales in the region, while cross-border B2C E-Commerce sales would account for a less significant percentage. Furthermore, M-Commerce sales in 2022 are forecast to account for more than half of B2C E-Commerce sales, and are set to increase, accounting for more by 2025. M-Commerce sales in Latin America are expected to soar by 2025, reaching a value worth billions. In terms of payment, both domestic and international credit cards were estimated to account for more than half of total E-Commerce (including B2C and C2C) sales in 2021, as indicated in the yStats.com report.
Latin American countries forecast to grow by 2025
Although well developed, the Latin American region is set to grow further by 2025. A forecast cited in this yStats.com report indicates that individual countries in the Latin American region are forecast to experience notable growth up to CAGR 82% from 2020 to 2025. The market size as well as share of Latin American B2C E-Commerce for each individual country, as depicted in this yStats.com report, shows that Brazil, Mexico, Colombia, Argentina, and Chile were estimated to lead the way in market size and shares in 2021, with Brazil ranking the highest. Brazil was also estimated to have the highest online shopper penetration in November 2021, followed by Argentina, Costa Rica, and Uruguay. In terms of B2C E-Commerce index and rank, Guatemala ranks the highest in index value out of 100 and rank out of 152, followed by El Salvador. With significant mobile subscription penetration exhibited in the countries in 2020, this yStats.com report also shows substantial internet penetration in the Latin American countries, with the internet penetration in Chile being the highest. The mobile share of total B2C E-Commerce volume was estimated to be the highest in Colombia, reaching more than two-thirds in 2021. Moreover, among the top payment methods used, “Cards” and “Credit Cards” were the most used payment methods in B2C E-Commerce in most Latin American countries.
The region’s leading online merchant is Mercado Libre
On a regional scale, the highest ranking B2C E-Commerce website by total visits is “mercadolivre.com.br” with more than 270 million visits over the period January through September in 2021, followed by “mercadolibre.com.ar”, “mercadolibre.com.mx”, and “olx.com.br”. In Peru, the top website by total non-unique visits is “falabella.com.pe”, followed by “mercadolibre.com.pe”, and “ripley.com.pe”. The top shopping apps by Googly Play Store in select countries include “Alibaba.com”, “Mercado Libre: Compras Online”, and “SHEIN-Fashion Shopping Online”, as cited in the yStats.com report.