According to the research Tendências do E-Commerce Brasileiro 2017 (‘Trends in Brazilian E-Commerce 2017’) carried out with the participation of around 750 thousand online stores in Latin America, Brazil holds 75% of the market, almost ten times over Mexico.
Colombia, Argentina, Chile and Peru each hold a market share of 5% or less.
Mexico is second place in e-commerce activity holding only 8.5% of market share
Today Brazilian e-commerce comprises of 590 thousand stores online, 31% more than in 2015. The annual growth ratio for the last three years were respectively 25%, 27% and, even with the economic crisis, 21% for last year. The prediction is that this year’s numbers will not deviate from this gradual growth.
One of the main factors for Brazil being at the top of the e-commerce ranking are the online offers. A recent study made by the Brazilian Credit Protection Association (SPC) shows that 50% of consumers consider price as the greatest attraction in e-commerce. Other important factors include convenience since, for 33% of consumers, time-saving is the biggest advantage. For 27% of consumers, the ability to compare brands and prices is the main reason to buy online.
To invest in an e-commerce platform is to know its trends and its pros and cons. An example we can use here is “We Love Webshops” an uprising web boutique that gathers the best online stores by categories with the purpose of facilitating online shopping.
The idea here is curatorship, since there are so many stores currently available. Consumers can feel flustered, and the site aids the dilemma by offering a select variety of stores coupled with constant updates. The database of stores and somewhat personalized aspect that this approach gives is showing excellent results in Brazil at the moment.