31 May, 2019, 09:42 ET
CLEVELAND, May 31, 2019 /PRNewswire/ -- Latin America has the second lowest per capita e-commerce sales of any region globally. According to the Freedonia Group study Global E-Commerce, e-commerce sales in Latin America totaled $80 billion in 2018, accounting for 2% of the global total. Revenues are largely driven by Brazil and Mexico, which together accounted for 57% of the region's sales in 2018.
Here are a couple key points from the study:
- Logistical problems – including delayed shipment or unfulfilled orders – have prevented consumers from engaging with e-commerce in the past, but solutions such as offering better refund and return policies can increase consumer satisfaction.
- Improvements to postal services, the development of crowdsourced delivery, and a better focus on customer service are all expected to aid growth in online sales.
More information about this study is here: https://www.freedoniagroup.com/industry-study/global-e-commerce-3724.htm
In comparison, e-commerce sales in the world as a total are projected to nearly double by 2023, expanding 13% annually to $6.7 trillion. The Asia/Pacific region includes the two countries with the largest populations in the world: China and India, affording a large market of potential e-commerce customers. North America has the highest per capita e-commerce sales in the world. A well-developed logistics framework and plenty of competition keeps total cost of fulfilment relatively low for e-commerce orders.
Global E-Commerce (published 04/2019, 174 pages) is available for $4900 from The Freedonia Group.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Consumer Goods studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group
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