Latin America: retail e-commerce sales 2019-2023

In 2019, retail e-commerce sales in Latin America surpassed 70 billion U.S. dollars. According to forecasts taking into account the impact of the COVID-19 pandemic, this figure is expected to reach almost 116 billion by 2023.

Major markets in the region

Based on estimates from the Statista Digital Market Outlook, Mexico and Brazil would together account for more than 60 percent of the e-commerce market in Latin America in 2020. In fact, forecasts for that same year indicate that retail e-commerce would represent approximately 5.5 percent of Mexico's gross domestic product and 4.5 percent of Brazil’s.

COVID-19's boost to e-commerce

The unexpected outbreak of the new coronavirus SARS-CoV-2 quickly impacted online commerce in Latin America. Confined to their homes, many consumers found in the web a safe way to make purchases and payments. While e-commerce revenues rose across the region, Peru stood out with an unprecedented 900 percent growth. It is foreseen that after such a boost, online sales in the Andean country will exceed 2.7 billion U.S. dollars by the end of 2020.