The cross-border e-commerce market in small languages has attracted much attention for a long time. Driven by the “One Belt, One Road” initiative, the cross-border e-commerce market in small languages has suddenly emerged and become a huge growth point for the cross-border e-commerce market. In their predictions on emerging markets for cross-border e-commerce in the next five years, many data research institutions have repeatedly mentioned Latin America, where Spanish and Portuguese are popular. What is the charm of the Latin American market, which is favored by many cross-border e-commerce giants and big sellers?
Although Latin America has 9% of the world’s population, its own retail market is less than 2%. , compared with e-commerce in developed countries such as Europe and the United States, the development of e-commerce in Latin America has not yet been perfected and is still a “virgin land” that has yet to be developed. Mexico’s online retail accounts for less than 5% of the country’s retail industry, and other countries such as Chile and Peru also have less than 1% e-commerce penetration.
Currently, there are only two major local e-commerce forces in Latin America: one is MercadoLibre, which has been listed on Nasdaq and is the Latin American version of “Taobao”. It has a large transaction volume but lacks control over counterfeit goods. ; The other is Linio, which is the Latin American version of “Tmall”. It has e-commerce websites and local customer service teams in 8 Latin American countries. Although its transaction volume is not as good as MercadoLibre, it has a sound supervision and standard system to provide high-quality and authentic products. supply.
In the long run, the Latin American e-commerce market has certain development potential.