Latin America B2C E-Commerce and Payment Market 2022

Brazil and Mexico make up the Highest Share of B2C E-Commerce in Latin America

Online shopping habits accelerate in the Latin American region

Although B2C E-Commerce in Latin America got off to a slow start when compared to Europe or North America, the region has come a long way since then with a B2C E-Commerce penetration rate of over 50% in multiple countries in the region. The largest economies of the region include Brazil, Mexico, and Argentina and these three economies are projected to experience profound changes regarding their online sales growth rate in 2022, as reported in the report. The spread of the COVID-19 pandemic sped up the adoption of online shopping habits and with this increase many countries within the region are forecast to have notable increases in CAGR from 2020 to 2025.

Argentina-based MercadoLibre leads online sales in the region

MercadoLibre, an online marketplace headquartered in Argentina, dominates the B2C E-Commerce market In the Latin American region by being the top seller in several countries, including Argentina, Mexico, and Chile. MercadoLibre has such a significant presence that it was estimated to account for more than two thirds of Argentina’s E-Commerce market in 2021. Furthermore, MercadoLibre continues to receive many visits on its websites and maintains its position as one of the leading online merchants in Latin America.

Questions Covered in the report:

How did the COVID-19 pandemic affect Latin America’s B2C E-Commerce market?
What were Latin America’s top 10 markets by online retail sales in 2021?
What are the most used online payment methods across Latin America?
How does the cross-border B2C E-Commerce share vary across the countries of the region?
Which are the largest B2C E-Commerce players in Latin America and how does the competitive landscape vary by country?

For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report.

1. Management Summary

2. Regional Development

Year-on-Year B2C E-Commerce Sales Growth Rate, by Selected Countries Worldwide, incl. Argentina, Brazil and Mexico, in %, 2022f
Total E-Commerce Sales (incl. B2C and B2B), in USD billion, and Year-on-Year Change, in %, 2020-2025f
Breakdown of Total E-Commerce Sales (incl. B2C and B2B) in the Region, by Country, in %, 2021
Total E-Commerce Sales (incl. B2C and B2B), in USD billion, by Selected Countries, and Share of Region’s Total E-Commerce Sales, in %, 2021
CAGR of Total E-Commerce Sales (incl. B2C and B2B), by Select Countries, in %, 2020-2025f
B2C E-Commerce Sales, in USD billion, and Year-on-Year Change, in %, 2019-2022f
B2C E-Commerce Sales, in USD billion, by Selected Countries, 2021
Online Shopper Penetration, in % of Population, by Selected Countries, 2021
Breakdown of B2C E-Commerce Sales by Domestic and Cross-Border, in %, 2021
Breakdown of Total E-Commerce Sales (incl. B2B and B2C) by Domestic and Cross-Border, by Selected Countries, in %, 2021
M-Commerce Sales, in USD billion, and Year-on-Year Change, in %, 2019-2025f
M-Commerce Share of B2C E-Commerce Sales, in %, 2019-2025f
M-Commerce Sales, by Argentina, Brazil and Mexico, in USD billion, 2021e
Ways by Which Smartphone Users Research Products They Plan on Purchasing Online, in % of Respondents, January 2022
Retail E-Commerce Sales of Select Companies, in USD billion, H1 2021
Top 10 E-Commerce Websites, by Total Visits, in millions, January-September 2021
Breakdown of Total E-Commerce Sales (incl. B2C and C2C) by Payment Methods, in %, 2021
Number of Digital-Only Banks, by Brazil, Mexico and the Rest of Latin America, 2012-2021e
Number of Neobank Customers, by Selected Countries, in millions, 2016-2021e

3. Brazil

3.1. Overview

Overview of B2C E-Commerce Market, March 2022

3.2. Sales & Shares

B2C E-Commerce Sales, in BRL billion, in % Year-on-Year Change, 2011-2020
Total (Domestic + Cross-Border) B2C E-Commerce Sales, in BRL billion, H1 2020 & H1 2021
B2C E-Commerce Sales, in % of Total Retail Sales, 2019 & 2030f

3.3. Users & Shoppers

New B2C E-Commerce Consumers, in millions, H1 2020 & H1 2021
Number of New and Existing B2C E-Commerce Consumers, in millions, H1 2021 vs H1 2020
Share of Consumers Who Already Made a Purchase Online, in %, June 2021
Actions Taken by Smartphone or Tablet Users Prior to Shopping Online, in % of Respondents, May 2021

3.4. Products & Verticals

Hygiene and Beauty B2C E-Commerce Sales, in BRL billion, 2019-2021e
Ways Used by Online Shoppers to Find the E-Commerce Stores, by Store Categories, in % of Orders, 2021
Most Searched Product Categories on the Internet, in % of Respondents, May 2021
Best-Selling Product and Service Categories, in % of Total B2C E-Commerce Sales, March 2020-March 2021

3.5. Trends

Breakdown of E-Commerce Orders, by Mobile and Desktop, in %, H1 2020 & H1 2021
Breakdown of Devices Used for E-Commerce Purchases, in % of Total B2C E-Commerce Volume, 2021 & 2022f
Cross-Border B2C E-Commerce Sales, in BRL billion, H1 2020 & H1 2021
Domestic B2C E-Commerce Sales, in BRL billion, in % Year-on-Year Change, H1 2020 & H1 2021
Share of Cross-Border B2C E-Commerce Sales, in % of Total B2C E-Commerce Sales, H1 2021
Share of Cross-Border E-Commerce Sales Volume, in % of Total E-Commerce Sales Volume, 2022f
Breakdown of Contributions of Regions to the Country’s Domestic E-Commerce Growth, in %, H1 2021
Share of Consumers who Intend to Take a Loan When the Country's Economy is Recovered from the Pandemic, and Share of Those Who Would Do So at a Digital Bank, in %, July 2021
Top Reasons to Apply for a Loan, by Digital-Only and Traditional Banks, in % of Consumers, July 2021
Actions Taken after Being Denied a Loan, in % of Consumers Who Were Denied a Loan by a Traditional Bank, July 2021

3.6. Payment

Breakdown of Payment Methods in B2C E-Commerce, in % of Sales Volume, 2021
Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
Electronic Payments Value, in BRL trillions, 2021 & 2022
Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
Breakdown of Payment Methods, in %, 2020 & 2023f
Breakdown of Payment Methods, in % of Volume, 2020 & 2025f
Top Payment Methods Used When Shopping Online via Mobile, in % of Consumers, June 2021
Use of PIX by Online Shoppers, in % of All Online Transactions by PIX Users, 2021
E-Commerce Transactions Paid with PIX, in % of Total E-Commerce Volume, 2024f
Top Reasons Not to Use Mobile Payment App, in % of Consumers, June 2021

3.7. Delivery

Preferred Promotions in Supermarket Deliveries, in % of Online Shoppers, June 2021-July 2021
Reasons Behind Purchase via Supermarket Delivery Apps, in % of Online Consumer Panel, July 2021
Channels Used to Place Meal Orders, in % of Respondents, September 2021
Number of WhatsApp Users, in millions, and Year-on-Year Change, in %, 2019-2024f
Index for Development Level of Delivery Apps for Each Region Compared to Overall Situation in the Country, July 2021

3.8. Players
Top 5 E-Commerce Websites, incl. Worldwide Website Visits, in millions, Brazil’s Share of Total Visits, in %, Brazil’s Number of Visits, in millions, February 2022

4. Mexico

4.1. Overview

Overview of B2C E-Commerce and Online Payment Market, April 2022

4.2. Sales & Shares

B2C E-Commerce Sales, in MXN billion, 2020 & 2021
B2C E-Commerce Share of Total Retail Sales, in %, 2021
B2C E-Commerce Sales, in USD billion, 2021 & 2026f
Breakdown of Total Retail Sales Growth Value, by B2C E-Commerce and Other Retail, in %, 2021-2025f

4.3. Users & Shoppers

Internet Users, in millions, January 2021 & January 2022
Online Shopper Penetration, in % of Respondents, Before vs. During COVID-19, December 2021
Share of Internet Users Who Made a Purchase After Seeing an Online Advertisement, in % of Internet Users, and Breakdown of Channels They Purchased from, in %, May 2021
Share of Channels Used to Make Purchases During Hot Sale 2021, in % of Online Shoppers, 2021

4.4. Products & Verticals

Product Categories Purchased Online, in % of Online Shoppers, January 2022
Service Categories Purchased Online, in % of Online Shoppers, January 2022

4.5. Trends

Cross-Border Online Shopper Penetration, in %, February 2021
Top 3 Product Categories Purchased Cross-Border, in % of Cross-Border Online Shoppers, February 2021
Payment Methods Used To Pay For Cross-Border Online Purchases, in % of Cross-Border Online Shoppers, February 2021
Device Owned by Internet Users, in % of Internet Users, H1 2021
Breakdown of B2C E-Commerce Purchases by Device, in %, 2021e
Social Buyer Penetration, in % of Social Network Users, 2019-2024f

4.6. Payment

Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2020
Share of Online Purchases Paid with OXXO, in %, 2021
Payment Methods Used During Hot Sale 2021, in % of Online Shoppers, June 2021
Average Share of Mobile Fraud, in % of Total Fraud Losses Experienced by Retailers, 2019 & 2021e

4.7. Delivery

Delivery Methods Used in B2C E-Commerce, in % of Online Shoppers, January 2022
Perceived Benefits of Shopping Online, in % of Online Shoppers, January 2022
Most Common Incidents within the Delivery Process, in % of Online Shoppers, January 2022

4.8. Players

Top 5 E-Commerce Websites, incl. Total Website Visits, in millions, Mexico’s Share of Total Visits, in %, Mexico’s Number of Visits, in millions, February 2022
Top 5 B2C E-Commerce Companies by Market Share, in %, 2021

5. Argentina

5.1. Overview

Overview of the B2C E-Commerce and Online Payment Market, April 2022

5.2. Sales & Shares

B2C E-Commerce Sales, in ARS billion, 2019-2021
B2C and C2C E-Commerce Sales, in ARS billion, Orders, in millions, Products Sold, in millions, and Year-on-Year Change, in %, 2021
B2C E-Commerce Sales, in USD billion, 2021 & 2022f
B2C E-Commerce Share of Total Retail Sales, in %, 2020 & 2025f

5.3. Users & Shoppers

Information Technology Penetration, by Internet, Computer and Mobile Phone, in % of Individuals, by Age Group, Q4 2020
Number of New Online Shoppers and Total Online Shoppers, in millions, 2021
Breakdown of Frequency of Shopping Online, in % of Online Shoppers, 2021

5.4. Products & Verticals

B2C E-Commerce Sales by Product Categories, in ARS million, 2018-2021
Product Categories Purchased Online, in % of Internet Users, July 2021
Share of Consumers Making Over Half of Their FMCG Purchases Online Before and After the Pandemic, in %, 2021
Online Sales of Supermarkets, in ARS million, and Year-on-Year Change, in %, November 2021-January 2022
Online Share of Total Supermarket Sales, in %, November 2021-January 2022

5.5. Payment

Breakdown of B2C E-Commerce Purchases by Payment Methods, in %, 2021
New Payment Methods Introduced by Retail & Wholesale Companies During COVID-19, in % of Companies, May 2020
Growth of QR Payment Methods, incl. Change in Number of Transactions, Invoices and Operators, in %, November 2021 Compared to September 2021

5.6. Delivery

Breakdown of E-Commerce Shipments, by Delivery Time, in %, 2020 & 2021

5.7. Players

Top 5 E-Commerce Companies by Market Share, in %, 2021e
Top 3 E-Commerce Websites, by Total Visits, in millions, February 2022 & March 2022
Argentina’s Share of MercadoLibre.com Website Traffic, Compared to Other Countries, in %, March 2022
Overview of Selected Financial Metrics and KPIs of MercadoLibre in Latin America, 2019-2021
Share of B2C E-Commerce Sales Made Through Third-Party Marketplaces, in %, 2019-2021

6. Colombia

6.1. Sales & Shares

B2C E-Commerce Sales, in COP billion, 2017-2021
Number of Monthly Approved E-Commerce Transactions, in millions, H1 2021
B2C E-Commerce Sales, in USD billion, 2021 & 2024f
B2C E-Commerce Share of Total Retail Sales, in %, 2025f

6.2. Users & Shoppers

Number of Internet Users, in millions, 2020 & 2021

6.3. Products & Verticals

B2C E-Commerce Sales Growth on the First VAT-Free Day, By Category, in %, 2022 vs. 2021

6.4. Payment

Breakdown of B2C E-Commerce Sales by Payment Methods, in %, 2021e

6.5. Delivery

Share of Online Shoppers Who Prefer to Have Their Online Orders Shipped to Their Homes vs. to Pick Up, in %, April 2022

6.6. Players

Top 10 Online Stores by Traffic Share, in %, 2021

7. Chile

7.1. Sales & Shares

B2C E-Commerce Sales, in USD billion, 2020 & 2021e
B2C E-Commerce Sales, in % of Total Retail Sales, 2021e & 2030f
Breakdown of B2C E-Commerce Sales by Domestic and Cross-Border, in %, 2021

7.2. Users & Shoppers

Internet Users, in millions, 2020 & 2021
Share of Online Shoppers Perceiving Their E-Commerce Experience as “Good or Very Good”, in %, May 2021-September 2021

7.3. Products & Verticals

Product Categories Purchased Online, in % of Online Shoppers, April 2021
Share of Mobile and Desktop Devices, in % of B2C E-Commerce Purchases, 2020 & 2022f

7.4. Payment

Breakdown of B2C E-Commerce Sales by Payment Method, in %, 2021e
Top Payment Methods Used, in % of B2C E-Commerce Purchases, 2021e
Share of Internet Users Did Not Shop Online Because They Did Not Own Credit Cards, in %, March 2021
Share of Online Shoppers Using ServiPag, in %, January 2022

7.5. Delivery

Share of Online Shoppers Willing to Wait Longer if Delivery is Cheaper of Free, in %, March 2021

7.6. Players

Top 5 E-Commerce Websites, by Total Visits, in millions, February 2022 & March 2022

8. Peru

8.1. Sales & Shares

Total E-Commerce Sales (incl. B2B and B2C), in USD billion, and Year-on-Year Change, in %, 2020-2025f
B2C E-Commerce Sales, in USD billion, 2020 & 2024f
B2C E-Commerce Sales, in USD billion, 2020 & 2024f
Share of B2C E-Commerce Purchases Made Using Mobile and Desktop Devices, in %, 2022f vs 2020
Breakdown of B2C E-Commerce Sales, by Domestic and Cross-Border, in %, 2021e

8.2. Users & Shoppers

Internet Users, in millions, January 2021 & January 2022

8.3. Products & Verticals
E-Commerce Sales, in USD billion, and Year-on-Year Change, by Selected Verticals, incl. Retail, Digital Goods and Travel, 2021
8.4. Payment

Breakdown of B2C E-Commerce Sales by Payment Method, in %, 2020 & 2021
E-Commerce Payment Volume, in USD billion, and Growth, in %, by Payment Method, 2021

8.5. Players

Top 5 E-Commerce Websites, by Total Visits, in millions, February 2022 & March 2022

9. Ecuador

9.1. Sales & Shares

B2C E-Commerce Sales, in USD billion, 2020 & 2021e
Breakdown of B2C E-Commerce Sales by Domestic and Cross-Border, in %, 2021
Cross-Border B2C E-Commerce Volume, in USD billion, 2020-2024f

9.2. Users & Shoppers

Internet Users, in millions, January 2021 & January 2022
Share of Consumers Who Would Prefer to Order Food Through Digital Channels, in % of Respondents, 2021
Breakdown of Frequency of Shopping Online During COVID-19, in % of Online Shoppers, May 2020

9.3. Products & Verticals

E-Commerce Sales by Selected Verticals, incl. Retail, Digital Goods and Travel, in USD billion, 2021

9.4. Payment
Payment Methods Used, in % of Internet Users with a Bank Account, August 2021

Devices Used to Make Purchases Online, in % of Banked Internet Users, August 2021

9.5. Players

Top 3 E-Commerce Websites, by Total Visits, in millions, February 2022 & March 2022

10. Panama B2C E-Commerce Online Payment Country Profile11. Guatemala B2C E-Commerce and Online Payment Country Profile12. Uruguay B2C E-Commerce Online Payment Country Profile13. Costa Rica B2C E-Commerce Online Payment Country Profile14. Dominican B2C E-Commerce Online Payment Country Profile15. El Salvador B2C E-Commerce Online Payment Country Profile16. Paraguay B2C E-Commerce Online Payment Country Profile17. Bolivia B2C E-Commerce Online Payment Country Profile18. Jamaica B2C E-Commerce Online Payment Country Profile19. Honduras B2C E-Commerce Online Payment Country Profile