Currently, more and more sellers are focusing on emerging markets, such as Asia, the Middle East, Latin America, Africa and other places where e-commerce is in its infancy.
In recent years, in the global cross-border e-commerce market, the Latin American e-commerce market, as an emerging market, has full potential. First of all, Latin America’s population structure tends to be younger. Secondly, Latin America’s per capita GDP is higher than China’s and has higher consumption power, which contains huge business opportunities.
Currently, the Latin American e-commerce market is in its “embryonic” stage, with only 55% Internet coverage and only 5% of the market share, but it has already reached US$20 billion. According to industry analysts, Internet coverage in the region will gradually increase in the future, and users will gradually tend to shop online. Per capita disposable income in the region is increasing year by year, which will also promote the expansion of e-commerce transactions in Latin America.
Latin America has a population of approximately 635 million, of which only 200 million are online shoppers. The penetration rate of online shopping is still relatively low. However, the growth rate of B2C e-commerce transactions in Latin America is more than five times that of its economic development, with a compound annual growth rate of 20% from 2012 to 2017. This means that the Latin American market has great development potential, and also shows that Latin America is a “blue ocean” market for the development of cross-border e-commerce.