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 studyGlobal 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.
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.