The ecommerce foundation launched the Latin America ecommerce Report 2018 on September 6th which highlighted the continent’s position as one of the top regions in the world for ecommerce growth.
One of the reasons behind this growth is both the increased population and the higher rate of internet penetration across the continent, with an average of 59 percent of the population using the internet.
Argentina is at the top of the leaderboard in this area, with 71 percent of Argentines connecting to the world wide web on a regular basis, followed by Chile, Uruguay and Costa Rica tying for second place with 66 percent, and Ecuador lagging behind with 54 percent.
Mexico boasts a place as the largest ecommerce market in Latin America, with a US$21 billion annual spend, making up a hefty chunk of the US$71.2 billion annual total for the region.
Brazil isn’t too far behind with US$18.86, but Argentina, Colombia, Chile and Peru are the stragglers with US$6.83, US$4.93, US$3.7 and US$3 billion respectively.
When looking at where the burgeoning online consumers cohort spend their money, a common theme develops across the continent.