The annual Brazil E-commerce Report was launched this week. This report has been published by Ecommerce Foundation in partnership with PagBrasil, SAP, Mazars, Teleperformance and Safe.Shop. The hand-selected data includes ecommerce trends, facts, and figures, and offers insights into the Brazilian ecommerce market. Check out some highlights:
B2C ecommerce market potential
In 2017, B2C ecommerce turnover rose to just over $18.9 billion. This is expected to grow in the coming year to a forecasted $21.3 billion with the E-GDP expected to reach 1.14%. Internet penetration is on the rise in Brazil, with 74% of the population forecasted to be using the internet in 2018, up from 68% in 2017. Of the 68% of the population online, an estimated 29% will buy online in 2018.
“The wide adoption of smartphones, which is becoming more and more the primary way of surfing the internet for Brazilians of all income classes, offers a tremendous opportunity. In addition, social media, with 130 million Facebook users and 64 million Instagram users in Brazil, mainly accessed through mobile devices, is currently a boosting factor for m-commerce. In the next couple of years, we will see skyrocketing sales growth driven by these two elements. We also believe that in-app purchases will play an essential role in driving steady sales growth.” – Ralf Germer, CEO and co-founder PagBrasil
Infographic: Brazilian ecommerce in numbers
Brazilian consumers like purchasing electronics online, as the report reveals ‘consumer electronics’ to be the ‘most bought’ online product in 2017. Multi-brand platforms are also the most used (50%) marketplace to buy online.
Nearly half of Brazilian online buyers carried out cross-border purchases in 2017. Although most consumers (52%) still prefer to buy from local ecommerce websites, it is worth highlighting that 8% of all buyers opted to buy exclusively from international websites. Regarding the challenges faced by cross-border businesses, 44% of consumers pointed out that long delivery times are the reason why they often do not complete a transaction, while lack of security was responsible for 31% of cart abandonment. These figures make it clear that Brazilian consumers need a bit more reassuring from the online shops they are purchasing from.
Click here and download the free edition of the Ecommerce Report: Brazil 2018.