Latin America Reclaims Its Spot as the World’s Fastest-Growing Ecommerce Market
Mexico will surpass the US in ecommerce penetration next year, joining the ranks of the world’s most digitally mature retail markets
October 20, 2025 (New York, NY) — Latin America’s retail ecommerce market will continue to grow at a double-digit clip this year, proving its resilience on the global stage despite mounting geopolitical and trade tensions, according to EMARKETER’s Latin America Ecommerce Forecast 2025 report.
Regional sales will expand 12.2% this year to $191.25 billion—1.5 times faster than the global average—as easing inflation, stronger wage growth, and relatively stable unemployment levels bolster consumer spending. This will make Latin America home to the fastest-growing retail ecommerce market in the world—a title it last held in 2021 and will maintain through 2027 before ceding to the Middle East and Africa the following year.
“Latin America headed into 2025 facing a slew of macroeconomic headwinds, yet its retail ecommerce market has proven more resilient than expected,” said Matteo Ceurvels, principal analyst for Latin America and Spain at EMARKETER. “Even amid rising political fragility and economic volatility, consumers across the region are spending more online, reflecting improving macroeconomic conditions as well as the growing sophistication and maturity of digital retail.”
Mexico is a standout example of this digital transformation. Retail ecommerce will represent 17.7% of total retail sales in Mexico next year, overtaking the US (17.0%) for the first time, per EMARKETER’s estimates. By 2029, Mexico will be one of only six countries worldwide to surpass the 20% threshold in ecommerce penetration among the 67 markets we forecast, underscoring its status as one of the world’s most digitally mature retail markets.
“Once an underpenetrated ecommerce market, Mexico has rapidly become a leader in digital retail—not only in Latin America but worldwide,” Ceurvels said.
Double-digit ecommerce penetration will also become the norm across much of Latin America. In 2025, ecommerce will represent more than 10% of total retail sales in Argentina, Brazil, Mexico, and Uruguay. After a post-pandemic rebalancing, Chile will rise back above this threshold next year, reaching 11.9% by 2029—slightly surpassing its 2021 peak of 11.8%. Colombia will follow by 2029, bringing the region’s number of double-digit ecommerce markets in Latin America to six.
“While Latin America’s larger markets will push the regional average higher, smaller economies will lag further in ecommerce adoption,” Ceurvels said. “However, the next wave of opportunity will come from underpenetrated markets—particularly in Central America—where digital adoption is just beginning to take off.”
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