Latin America Ecommerce Forecast 2022

The Pandemic Boom Subsides, but Double-Digit Growth Persists Through Turmoil

Executive Summary

Retail ecommerce spending in Latin America will begin to decelerate in 2022 after two years of record growth. Despite a return to in-store shopping and mounting economic headwinds—like high inflation—digital sales will continue to reach new heights.


  1. How will macroeconomic conditions affect retail spending in Latin America this year?
  2. In which countries are retail ecommerce and mcommerce sales growing the fastest?
  3. What do these trends mean for retailers in Latin America?

WHAT’S IN THIS REPORT? Our latest forecast for total retail and ecommerce sales in Latin America, including regional and country-level breakouts for three markets: Argentina, Brazil, and Mexico. Also included are key trends fueling regional market movements in 2022 and beyond.

KEY STAT: The days of astronomical growth may be over, but retail ecommerce sales will continue to rise strongly in 2022. Three of the 10 fastest-growing retail ecommerce markets will be in Latin America this year.

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Table of Contents

  1. Executive Summary
  2. Key Points
  3. Macroeconomic Trends Affecting Retail Sales in 2022
  4. Latin America’s Retail Industry Bounces Back to Pre-Pandemic Levels
  1. Retail’s Digital Transformation Marches On
  2. Mcommerce Dominates the Digital Retail Ecosystem
  3. What Does This Forecast Mean for Retailers in Latin America?
  4. Read Next
  1. Listen Next
  2. Sources
  3. Media Gallery

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Matteo Ceurvels


Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Paola Flores-Marquez
Researcher, Latin America & Spain
Zach Goldner
Junior Forecasting Analyst
Karin von Abrams
Principal Analyst

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