E-commerce in Brazil is Growing

There might be economic difficulties in Brazil, but the e-commerce market is still growing.

So says new figures which show that despite difficulties in the country and the slow-down of consumer spending, the e-commerce market has remained resilient and is growing. In the first quarter of the year, e-commerce revenue climbed to R$9.75 billion, which equates to just over US$3 billion.

The background is a country impacted by high inflation and increasing unemployment, which has led to lower consumer consumption. But, on the flip-side, Brazilian consumers are still buying and see the online market as a way of helping them become more clever buyers, as they can do basic research and compare prices, before making a buying decision.

The R$9.75 billion of sales translate to over 100 million individual products sold, and interestingly, the average ticket size shot up by 7%.

Research firm E-bit, based in Brazil, shows that in 2015, nearly 40 million consumers went online to buy products. This is out of a population of around 200 million people. What’s more, Brazil is still forecast to remain the largest ecommerce force in Latin America until at least 2019.

Reference: PracticalEcommerce