Latin America's 500 top e-retailer companies, which hail from 22 countries, control 81.3% market share of all e-retail sales in the region. These companies are realizing the opportunities present in the Latin e-commerce markets, according to a recent article by Internet Retailer.
Latin America is the second fastest growing e-commerce market, only behind China. Internet Retailer estimates that e-commerce in Latin America grew 22% in 2014 growing to a $26 billion industry.
Internet Retailer's article identified two trends for the fast-growing market:
- E-commerce growth is widespread across the region.
- There is room for growth.
Brazil is dominating the market in Latin America and, like Europe, Latin America is a series of single national e-commerce markets rather than a combined retailing market like the United States. Brazil's e-commerce market has been active for a couple of decades, but Forrester Research indicates it is still far from full maturity.
The ten largest Brazilian e-retailers have combined sales of over $9 billion.
To read Internet Retailer's full article, please see: Latin America 500 merchants see ample room for growth in Brazil and other Latin e-commerce markets.
Latin America presents many challenges for companies looking to do business there. But with efforts for improvement and a rapidly growing e-commerce industry, Latin America is not a region to be ignored.
Further Resources on E-commerce, Latin America and Localization
You may gain further insight into Spanish translation and related topics by reviewing previous blogs and resources written by GPI:
- Spanish Variations: Spain vs. Latin America
- What is neutral Spanish?
- Spanish Translation Services
- Hispanics become second largest USA consumer market
- Why You Need a Localized Website for the U.S. Hispanic Market
- Spanish Website Translation
- Localization Strategy for Global E-Retailers
Globalization Partners International has created a more extensive overview of website globalization for U.S. Hispanic consumers in two white papers: Website Globalization and E-Business U.S. Hispanic Market and Website Globalization and E-Business U.S. Hispanic Market - In Depth are available in PDF format via a free download.
Please feel free to contact GPI at email@example.com with any questions about our language and technology services. Also, let us know if you have any interesting blog topics you would like us to cover in our future blogs. You may request complimentary Translation Quote for your projects as well.
About the Author
Natalie was born and raised in Montana where she graduated from The University of Montana with a degree in Business Administration. Her international experience includes two summer programs, one at The European Business School in Germany and the other at The University of Brescia in Italy. She studied a variety of global business subjects including international business, trade, culture and language. Key projects for her undergrad studies included meeting with executives from large corporations such as Lufthansa, Opel and The European Central Bank as well as working with the design team on the marketing plan for the 2015 World Fair in Milan, Italy. She has a range of global event management experience including organization of the Annual Mansfield Conference on the Middle East and the China Town Hall meeting series. Her hobbies include beading, yoga, cooking, reading, being outdoors and traveling.More Content by Natalie Williams