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E-commerce sales in Brazil will increase 178% to $22 billion in 2016 according to a new study from Forrester Research Inc.
Forrester’s Latin American Online Retail Forecast states that most of Brazil’s growth will come from the purchase of consumer electronics, which is currently 37% of online retail purchases. The report also notes that Brazil’s 81 million web users are active on social networks and expect deals like free shipping offers or interest-free payment terms for their online purchases.
The report states that Mexico should also experience significant e-commerce growth. Forrester forecasts that online sales will increase 209% to $3.4 billion in 2016. Unlike Brazilian web users who are most interested in deals, Mexico’s 40 million web users are concerned about being defrauded by online retailers.
Forrester cautions foreign online retailers that selling products in Latin America is different than selling products in other areas of the world. Import taxes are very high. For example a Dell Inspiron laptop sells for $1,400 in Brazil compared to $800 in Mexico or $500 in the United States.
Read the entire Internet Retailer article