Today, as part of our 2015 round-up on the state of international ecommerce, we are looking at South America, a region where some of the world’s fastest growing markets are located.
At the end of 2015, South America is projected to be the second fastest developing ecommerce market in the world, only trailing behind China!
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Although South America still has the second lowest level of digital sales worldwide, surpassing only the Middle East and Africa, this trend is changing fast.
As the region is increasingly shaped by a rapidly growing middle class that is eager for a larger selection of quality goods, South American shoppers are becoming more and more comfortable buying online.
Additionally boosted by the improved internet connection, B2C ecommerce sales in the region are projected to increase by 23.9% and reach nearly $50bn by the end of the year, when the number of internet users will amount to 327.8m.
On a national level, Brazil is the most mature ecommerce market in South America, with over $20bn in online sales forecasted by the end of 2015.
With more than 120 million internet users out of a total population of 200 million, 62% of whom are under the age of 30, Brazil is the 4th largest internet market globally, and the predicted online retail growth for 2015 is more than 20%.
After Brazil, Mexico comes in second, with $5.7bn in retail ecommerce sales expected by the end of 2015.
Growth is fastest in Argentina, where online retail volume is expected to post the staggering 40% increase by the end of this year, to nearly reach $5bn.
In 2016, thanks to its high internet penetration, booming market for affordable mobile devices and increasingly digital culture, South America will continue to be one of the outstanding opportunities for online retailers across the globe.
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