The eCommerce market in the US has plenty of room for growth, innovation, and new entries to the marketplace, especially as brick-and-mortar retail loses its dominance in favor of online equivalents offering more convenience and an improved experience. But the US and European markets are mature, and innovation often takes the form of value-adds from established retailers — same-day and next-day delivery being an obvious example.
Developing regions like South America, with up-and-coming economies including Argentina, Venezuela, and Brazil, which has the seventh largest economy in the world and a growing middle class, have significantly less mature but quickly growing eCommerce markets, presenting an opportunity to both local and international online retailers.
The number of online buyers located in South America is growing. Across the region as a whole, numbers of buyers will have increased around 14 percent between 2010 and 2016. Argentina and Brazil both beat the average growth rate by a considerable margin. Around 30 percent of Argentina’s population were classified as online buyers in 2010, by 2016 that’s expected to have grown to almost 50 percent. For Brazil, the proportion of buyers is expected to rise from 24 percent to 40 percent in the same period. As these economies strengthen, we can expect that rate of growth to increase considerably.