Latin America Ecommerce Forecast 2024

Brazil and Mexico Drive Growth as Economic Uncertainty Curbs Consumer Spending Elsewhere

Report by Matteo Ceurvels  | UPDATED: Sep 26, 2024

Ecommerce Forecasts 2024

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Executive Summary
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Table of Contents
Executive Summary
Retail ecommerce sales in Latin America will cross $250 billion by 2028
Key country-level findings from our forecast
Behind the Numbers
Listen Next
Sources
Media Gallery
About This Report
Our expanded Latin America retail and ecommerce coverage now includes breakouts for 16 markets across Mexico, Central America, and South America. Brazil and Mexico will drive the bulk of net new ecommerce sales this year with a combined regional market share of 75.2%.
Topics
Retail Ecommerce Sales
Latin America
Table of Contents
Executive Summary
Retail ecommerce sales in Latin America will cross $250 billion by 2028
Key country-level findings from our forecast
Behind the Numbers
Listen Next
Sources
Media Gallery

Retail ecommerce sales in Latin America are on track to reach nearly $180 billion this year, driven by significant gains in its two largest markets, Brazil and Mexico. Improving economic conditions in Chile will also fuel a rebound in growth, while ongoing macroeconomic challenges and political unrest in Argentina, Colombia, and Peru will hinder near-term sales performance for online retailers.

Key Question: What is the outlook for regional and country-by-country retail and ecommerce sales in Latin America in 2024 and beyond?

Retail Ecommerce Sales in Latin America, 2022-2028 (billions, % change, and % of total retail sales)
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Key Stat: Double-digit retail ecommerce sales growth will remain the norm in Latin America through 2026 but will dip into single-digit growth territory in the latter years of our forecast period as ecommerce adoption matures.

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Table of Contents

  1. Executive Summary
  2. Retail ecommerce sales in Latin America will cross $250 billion by 2028
  3. Key country-level findings from our forecast
  1. Behind the Numbers
  2. Listen Next
  3. Sources
  1. Media Gallery

Charts in This Report

Retail Ecommerce Sales in Latin America, 2022-2028 (billions, % change, and % of total retail sales)Brazil and Mexico Now Represent Over 75% of Total Retail Ecommerce Sales in Latin America (billions of retail ecommerce sales in Latin America, by country, 2021-2028)
Retail Ecommerce Sales Growth Worldwide, by Region, 2024 (% change)Mercado Libre Retail Ecommerce Sales in Latin America, 2020-2026 (billions, % change, and % of total retail ecommerce sales)
Mercado Libre Retail Ecommerce Sales Share in Select Countries in Latin America, 2022-2026 (% of total retail ecommerce sales in each country)Total Americanas S.A. Retail Sales in Brazil, by Channel, 2019-2023 (billions)
How Has Our Forecast for Retail Ecommerce Sales in Brazil Changed? (billions, 2022-2028)Top 10 Countries, Ranked by Retail Ecommerce Sales Growth, 2024 (% change)
Retail Ecommerce Sales Share in Mexico, by Company, 2020-2026 (% of total retail ecommerce sales)Retail Ecommerce Sales Growth vs. Rate of Inflation in Argentina, 2014-2024 (% change)
Retail Ecommerce Sales in Argentina, 2022-2028 (billions, % change, and % of total retail sales)Attitude Toward the Economy According to Adults in Chile, June 2022-June 2024 (% of respondents)
Retail Ecommerce Sales in Chile, 2022-2028 (billions, % change, and % of total retail sales)How Has Our Forecast for Retail Ecommerce Sales in Peru Changed? (billions, 2022-2028)
Retail Ecommerce Sales in Colombia, 2022-2028 (billions, % change, and % of total retail sales)Retail Ecommerce Sales Share in Colombia, by Product Category, 2023 (% of total retail ecommerce sales)
Retail Ecommerce Sales Growth in Latin America, by Country, 2024 (% change)Retail Ecommerce Sales Share in Latin America, by Country, 2024 (% of total retail sales)

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First Published on Sep 24, 2024

authors

Matteo Ceurvels

Contributors

Oscar Bruce Jr.
Senior Forecasting Analyst
Sky Canaves
Principal Analyst
Suzy Davidkhanian
VP, Content
Zach Goldner
Forecasting Analyst
Penelope Lin
Director, Data Visualization
Wendy Malloy
Director, Reports Editor
Emma Noyes
Graphic Designer, Data Visualization
Carina Perkins
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Naomi Rebuelta
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Matt Torpey
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