Amazon: the giant’s awakening in Brazil

Few industries across Latin America grew as rapidly in 2020 as e-commerce, a direct result of the retail closures and lockdowns caused by the pandemic. The region experienced a whopping 36.8% increase in retail e-commerce and, for the first time, claimed the number-one spot worldwide, thus knocking the Asia/Pacific region (APAC) out of the top spot it’s held for the past 10 years. Another recent study by Euromonitor found that Latin America posted the largest growth in goods sold online with a 60% jump during 2020.

That tremendous growth was three times more than the 12% expansion originally forecast back in Q4 2019 (pre-COVID-19), according to Matteo Ceurvels who serves as research director for Latin America and Spain at eMarketer, an Insider Intelligence company. Sharpening the focus, Brazil’s e-commerce sector grew by 35% in 2020, and it ranked number four in the list of top-10 growing e-commerce markets by country. Argentina, the only other Latin American country to make last year’s list, came in at number one with 79% growth.

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