By 2024, 80% of B2B transactions in Latin America are expected to take place online
The latest report from yStats.com, titled “Snapshot of Latin America’s B2B E-Commerce Marketplaces 2024” provides an overview of the region’s B2B E-Commerce Marketplace landscape, focusing on the digital transformation sweeping across Latin America. This report highlights the critical role B2B marketplaces play in modernizing traditional business practices, with a particular focus on the Brazilian market.
Latin American B2B Marketplaces Drive Regional Digitalization: Technological Advancements and Market Opportunities
B2B E-Commerce in Latin America is poised for substantial growth, with online transactions expected to dominate the market by 2024. This shift is driven by the rapid adoption of AI and process automation, which are accelerating digital transactions in the region. Platforms like BEES are at the forefront of this transformation, offering advanced digital tools for inventory management and order processing. The preference for direct, digital interactions is evident, as over 30% of millennial buyers now favor this approach. Companies such as Infracommerce are leading the charge, providing solutions that enhance operational efficiency and cater to modern buyer expectations.
B2B Marketplaces Empower SMEs Across Latin America
B2B E-Commerce platforms are transforming opportunities for small and medium-sized enterprises (SMEs) by providing access to broader markets and more efficient operations. For instance, Sooper, a Brazilian marketplace, offers credit options and next-day delivery, helping SMEs manage inventory and reduce operational costs. These platforms are crucial for SMEs, enabling them to compete more effectively in the digital economy.
Challenges and Growth Opportunities for Players
Despite the growth, Latin America faces challenges such as economic volatility and infrastructure limitations. However, innovation is driving progress, with investments from firms like ABSeed and NXTP supporting digital marketplace solutions. Platforms like Meru and Zax.com are also expanding, demonstrating the region’s potential for continued digital advancement.
