E-commerce in Latin America - statistics & facts
The history of Latin America stands as a testament to its remarkable adaptability, prominently showcased in its response to the COVID-19 pandemic. Latin Americans didn't merely confront challenges; they capitalized on them, fostering innovation and advancement. This inherent capacity to adapt, intricately woven into the cultural fabric, became the cornerstone of its e-commerce boom.
While Latin America's e-commerce revenue still trails behind that of Asia, the United States, and Europe, the region boasts a formidable cohort of nearly 300 million digital shoppers, a number forecast to soar 44 percent by 2029. In 2023, online retail sales in Latin America yielded an estimated 272 billion U.S. dollars.
In this dynamic landscape, Brazil and Mexico are vying for the lead, each accounting for close to 30 percent of the Latin American e-commerce market. Yet, the ascendance of economies like Argentina, Chile, Peru, and Colombia underscores a broader narrative of accelerated growth and burgeoning potential.
While Latin America's e-commerce revenue still trails behind that of Asia, the United States, and Europe, the region boasts a formidable cohort of nearly 300 million digital shoppers, a number forecast to soar 44 percent by 2029. In 2023, online retail sales in Latin America yielded an estimated 272 billion U.S. dollars.
In this dynamic landscape, Brazil and Mexico are vying for the lead, each accounting for close to 30 percent of the Latin American e-commerce market. Yet, the ascendance of economies like Argentina, Chile, Peru, and Colombia underscores a broader narrative of accelerated growth and burgeoning potential.
