ResearchAndMarkets.com Adds “Latin America Ecommerce Market Opportunities Databook – Q1 2024” to Offerings Latin America’s ecommerce market is projected to grow annually by 6.55%, reaching US$194.7 billion in 2024. Over the medium to long term, the sector is anticipated to maintain steady growth, with a forecasted CAGR of 8.50% from 2024 to 2028, driving gross merchandise value to US$269.8 billion by 2028.
Key drivers include enhanced digital infrastructure and supply chain networks, fueling the surge in online shopping across Latin America. Global firms are increasingly investing in the region to capitalize on this burgeoning market.
Shein plans to expand its warehouse capacity in Mexico, while Chinese firms like Temu and TikTok are also eyeing market share. These developments are expected to bolster investment in Latin America’s ecommerce market in 2024.
MercadoLibre reported robust growth in its cryptocurrency segment, with US$21 million in assets for customers as of September 2023. The company’s overall business, including credit cards and loans, contributed to Q3 revenues of US$3.8 billion and profits of US$685 million, driven by expansion in Brazil and Mexico.
In Brazil, Nuvemshop acquired Perfit to enhance marketing efficiency, while Shopee’s acquisition of Brazilian fintech Blu aims to accelerate growth. Both moves underscore the competitive strategies reshaping the Brazilian ecommerce landscape.
Chinese ecommerce platforms continue expanding in Latin America, with Temu launching in Chile and Shein increasing warehouse capacity in Mexico, reflecting their commitment to regional market growth.
The report provides comprehensive data-driven insights into Latin America’s ecommerce dynamics, covering over 50+ KPIs across key verticals including Retail Shopping, Travel & Hospitality, Online Food Service, Media & Entertainment, Healthcare & Wellness, and Technology Products & Services.
For further details, visit: ResearchAndMarkets.com
