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%.
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?
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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Executive Summary
Retail ecommerce sales in Latin America will cross $250 billion by 2028
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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)
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)