For: eBusiness &

Channel Strategy
Professionals

Latin America eCommerce Forecast,

2014 To 2019
by Zia Daniell Wigder, January 15, 2015

Key Takeaways
Online Retail In Latin America Is Poised For Significant Growth
Todays online retail market in Latin America is set to grow substantially: By 2019,
shoppers in just three markets will spend around $32 billion more online than they did
in 2014. Online retail markets will be driven by a series of economic factors as well as by
increasingly advanced digital offerings from both traditional and web-only retailers.
Brazil Remains The Largest Market In The Region By A Wide Margin
Brazil is currently -- and will remain -- the largest eCommerce market in Latin America:
Online retail sales of $18 billion this year are almost triple those for Mexico and
Argentina combined.
Argentina And Mexico Offer Opportunities Despite Their Smaller Size
Opportunities exist in Argentinas $3.4 billion and Mexicos $2.8 billion online retail
markets today. The smaller size of the markets means fewer global brands have made
these markets a priority as compared to Brazil, but Mexico in particular is becoming a
popular market for eCommerce brands expanding internationally.

Forrester Research, Inc., 60 Acorn Park Drive, Cambridge, MA 02140 USA

Tel: +1 617.613.6000 | Fax: +1 617.613.5000 | www.forrester.com

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Latin America eCommerce Forecast, 2014 To 2019

The Online Retail Markets Of Brazil, Argentina, And Mexico Will More
Than Double By 2019
by Zia Daniell Wigder
with Carrie Johnson, Jeff Wray, and Rebecca Katz

Why Read This Report

With a population of over a half billion and two countries among the worlds 15 largest economies, Latin
America has increasingly been on the radar of eBusiness leaders looking to expand their digital offerings.
Doing business in the region can be a challenge, however. Regulatory hurdles, infrastructure issues, and
slow economic growth rates present hurdles in key Latin American markets. Despite these challenges,
eCommerce continues to charge forward in every country across the region. In this forecast, we dive
into the size and growth rates of online retail in Brazil, Argentina, and Mexico and identify some of the
key factors that are driving and inhibiting eCommerce in the region; it updates the report published on
December 17, 2013 entitled Latin America Online Retail Forecast, 2013 To 2018.

Table Of Contents

Notes & Resources

2 Latin America Sees A Growing Middle Class

But A Variety Of Challenges

Forrester used data from the Forrester

Research Online Retail Forecast, 2014 To
2019 (Latin America) for this report.

The Population In The Region Is Young And

Increasingly Affluent
Key Digital Trends Extend Throughout The
Region
4 Brazil Charges Forward As The Regions
Dominant eCommerce Market
6 Global Brands Are Underrepresented In
Argentinas Market

Related Research Documents

Retail eCommerce In Brazil: Key Metrics
2014
October 20, 2014
The Evolution Of Global eCommerce Markets
March 28, 2014

7 Mexico Is Shifting Toward Online Retail

recommendations

9 Take The Time To Fully Understand

eCommerce Maturity Levels
10 Supplemental Material

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Latin America eCommerce Forecast, 2014 To 2019

Latin America Sees A Growing Middle Class But A Variety Of Challenges

Latin American markets offer brands wildly different opportunities when it comes to eCommerce.
Markets like Chile are attractive given the countrys digitally savvy shoppers and the governments
support of innovation yet Chiles population of 17 million is less than 10% that of Brazil.
Colombias population of nearly 50 million is more appealing from a size perspective; however, its
eCommerce market remains at a very early stage. In this report, we focus in on the three largest
economies in the region Brazil, Mexico, and Argentina each of which presents brands with
different opportunities.
The Population In The Region Is Young And Increasingly Affluent
To understand the online retail opportunity in Latin America and to put the region in a global
context, its critical to understand some of the market dynamics in the region and the shifts that are
taking place. In Latin America:

The population is relatively young. Young, digital consumers often help drive eCommerce

markets by spending their newfound wealth online. Compared with its US and European
counterparts, Latin America certainly boasts young populations: The average age in Argentina
and Brazil is 31, and in Mexico, its just 27.1 Contrast that with the US, where the average age is
38, or the UK, where its over 40. Having a young base of engaged online users can help lay the
groundwork for eCommerce to flourish, although it can take time for consumers to move along
the eCommerce adoption path from the time they first engage through digital channels to
the final stage in which they make a wide variety of purchases online.2

The number of middle-class consumers has skyrocketed. As individuals move out of poverty

into the middle class, consumer spending both online and offline follows. In Latin America,
the World Bank estimates that more than 50 million people joined the middle class between 2000
and 2010.3 The bulk of this new middle-class growth some 35 million people has been in
Brazil, yet countries across the region have benefited from economic growth and declines in
poverty rates.4 In 2013, GDP per capita in Argentina, Brazil, and Mexico were all between
$10,000 to $15,000.5 These figures are far higher than those of many large emerging markets in
Asia, such as China, India, and Indonesia.

The focus on educating digital leaders is growing. The governments in Latin America have

often been taken to task for an insufficient focus on education; today, educational institutions
in both Brazil and Mexico spend only about one-third of the Organisation for Economic Cooperation and Development (OECD) average per student on education.6 Recent initiatives,
however, are helping to lay the groundwork for a larger digital workforce. There is increased
focus on the shortcomings in public education, and new courses aimed at preparing a new
generation of digital professionals are cropping up across the region. Companies operating in

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Latin America often talk about the shortage of eCommerce talent in the region especially in
key areas such as analytics and customer experience but this dynamic will shift.7 Both public
and private educational institutions are adapting to meet the needs of thriving digital markets,
and companies are starting to make digital training programs a core part of their organizations.
Key Digital Trends Extend Throughout The Region
While each market in Latin America comes with its own unique set of opportunities and challenges,
we can observe certain digital trends occurring throughout the region. In many countries in Latin
America, we find that:

Social engagement with brands is high. In the US, social networks have not always met the

expectations of brands looking to connect with and influence consumers.8 In Latin America,
however, consumers have demonstrated greater enthusiasm for using these social networks to
interact with brands. For example, just 21% of US online users said it was cool to be associated
with a company/brand on social media by contrast, over one-third of online users in
metropolitan Brazil, Argentina, and Mexico agreed with that statement.9 Similarly, far more
online users in Latin America think social media websites and online social tools are a great way
to communicate with brands/companies as compared to their US counterparts.10

Barriers to consumer trust remain. For eCommerce to become a truly mass-market

phenomenon in Latin America, retailers need to overcome a variety of barriers to consumer

trust. These consumer trust issues are arguably the most significant in Mexico, where
eCommerce remains at an earlier stage than in Brazil or Argentina: Fears that products ordered
online may not be delivered or may be delivered in poor condition have presented hurdles
to online retailers in recent years.11 However, concerns about shopping online linger even as
markets develop. In Brazil, for example, where a large percentage of consumers take advantage
of eCommerce, less than half of online users in metro Brazil feel their credit card information is
very secure when shopping online.12

Omnichannel retailers play a key role in driving eCommerce. Latin American eCommerce

differs from that in many other emerging markets in that omnichannel retailers have helped
drive the market forward. Unlike markets such as China and India where web-only players
dominate, many large traditional retailers in Brazil, Argentina, and Mexico have embraced
eCommerce and have started to roll out omnichannel offerings. Indeed, traditional retailers tend
to be trusted brands with many decades of experience in these markets. As a result, they are well
positioned to play an essential role in boosting consumer confidence in the online channel.

Growth is accelerating in smaller cities. In virtually all emerging eCommerce markets,

initial growth is concentrated in the large, relatively wealthy, urban areas. Latin America is
no exception: Whether its Rio de Janeiro and So Paulo in Brazil, Buenos Aires in Argentina,

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or Mexico City in Mexico, the lions share of early growth comes from these areas. Over time,
however, growth starts to shift to smaller cities throughout the country. Ultimately, many online
retailers find the majority of their growth comes from consumers in smaller towns and cities
who value the product selection offered online but dont have the same access to brands through
local retail stores.

Credit and debit cards arent the only payment games in town. As in most emerging

eCommerce markets, a large percentage of consumers in Latin America dont own credit cards,
and many dont have bank accounts. To reach those without credit cards, debit cards, or bank
accounts, online merchants have turned to alternative payment types. In Mexico and Argentina,
some online retailers offer cash on delivery (COD) as an option; in Brazil, the boleto bancrio
(a printable, bar-coded invoice that can be paid online or offline) plays a similar role.13 In
Mexico, some retailers allow consumers to pay at convenience stores. Consumer possession of
electronic payment types is creeping up, however: A 2013 study by the Brazilian Association of
Credit Card Companies and Services (ABECS)of consumers in 11 major cities found that threequarters of Brazilians over the age of 18 owned some means of electronic payment, whether a
credit, debit, or store card.14

Mobile is growing rapidly, with the current focus on smartphones rather than tablets.

Smartphone penetration is increasing rapidly across Latin America. We forecast smartphone

penetration as a percent of the total population to be almost 35% in Mexico, almost 44% in
Brazil and nearly 45% in Argentina.15 Retailers across the region are rolling out mobile apps
and websites: Our forecast shows combined smartphone- and tablet-driven revenues in Brazil
representing approximately 10% of all eCommerce sales in 2014, while the figures in Argentina
and Mexico are slightly higher.16 To date, most retailers have focused nearly all of their efforts on
smartphones, however, rather than tablets.

Brazil Charges Forward As The Regions Dominant Ecommerce Market

Brazil remains the single largest online retail market in Latin America by a wide margin. We forecast
overall business-to-consumer (B2C) and consumer-to-consumer (C2C) online retail revenues of
$17.8 billion in 2014, increasing to $40.8 billion by 2019 a compound annual growth rate (CAGR)
of 18% (see Figure 1). The number of online buyers will increase from 33.5 million to 61.8 million. A
number of factors will influence the size and growth rates of online retail in Brazil:

Economic growth rates have declined, but eCommerce continues to grow. Despite Brazils

economic momentum in the past, the recent economic situation in Brazil has looked less
rosy. The World Banks projected GDP growth rate for Brazil in 2014 and 2015 is considerably
lower than that of Mexico, and a magnitude below countries like China and India.17 Yet
eCommerce often remains a bright spot when economies slow: In 2008, for example, many
leading omnichannel retailers in the US saw their online revenues continue to grow, even as the

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economy contracted and offline sales declined.18 In Brazil, this same dynamic is set to take place,
with online retail revenues continuing their upward trajectory, even as overall economic growth
rates remain low.

Online buyers in Brazil cross social classes and increasingly buy across categories. In

Brazil, eCommerce isnt heavily concentrated within the middle and upper-middle classes as it
is in some other markets. Almost one-third of low-income online consumers in metropolitan
Brazil have bought and paid for a purchase online in the past three months, compared with
just 11% in metropolitan Mexico.19 There is much discussion about the C and D classes
buying online in Brazil, a dynamic that is essential for eCommerce markets to truly flourish.
Additionally, online shoppers in Brazil increasingly buy across categories rather than just in
early-adopter categories, such as consumer electronics or computer hardware. Today, online
shoppers in Brazil are starting to buy in categories like beauty and apparel categories that
often shift online later.

Both web-only and traditional retail players have a strong presence in the Brazilian market.

The large players in Brazils eCommerce market include a combination of web-only players as
well as omnichannel retailers. Companies that operate multiple online retail sites, such as B2W
(which operates eCommerce sites like Americanas.com, Shoptime.com, and Submarino.com)
and Nova Pontocom (which operates the eCommerce sites of retailers Casas Bahia, Extra, and
Pontofrio), hold a large percentage of the market through these online properties. Other webonly players like MercadoLivre and Netshoes also play prominent roles in the market, while
more recent entrants like Dafiti have started to push categories like apparel online. Additionally,
Brazil has seen traditional retailers like Magazine Luiza embrace the online channel relatively
early on, with many starting to explore more advanced omnichannel features.

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Latin America eCommerce Forecast, 2014 To 2019

Figure 1 Forecast: Online Retail Spending In Brazil (B2C And C2C), 2013 To 2019
Forecast

40.8
35.3
30.2

Total online retail spending

(B2C and C2C)
(US$ billions)

25.7
21.6
17.8

15.1

2013

2014

2015

2016

2017

2018

2019
61.8

54.3
47.9
42.3

Total online buyers

(millions)

33.5

37.6

29.8

Source: Forrester Research Online Retail Forecast, 2014 To 2019 (Latin America)
118923

Source: Forrester Research, Inc. Unauthorized reproduction or distribution prohibited.

Global Brands Are Underrepresented In Argentinas Market

Argentinas online retail market is significantly smaller than Brazils: Its combined B2C and C2C
market in 2014 is set to reach $3.4 billion and will grow to $8.3 billion in 2019, a CAGR of 19% (see
Figure 2). The number of online buyers will increase from 7.8 million to 12.6 million. Argentinas
eCommerce market contains some unique dynamics, including the following:

Import restrictions challenge global brands. One area where Argentina currently differs from
both Brazil and Mexico is the presence of global brands within the country. Import restrictions
have been tightened over the past few years, which means that foreign imported products are
extremely pricey, when theyre available at all. While the current restrictions may be relaxed
after the presidential elections in 2015, they are unlikely to shift substantially before then. As a
result, relatively few global monobrand or multibrand retailers operate eCommerce websites in
Argentina today, despite the growing online retail opportunity.

Early-stage categories continue to dominate online. Argentina continues to show the

hallmarks of a developing eCommerce market: Today a large percentage of sales are

concentrated in early-stage categories like computer hardware and consumer electronics.

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Indeed, the few global brands that offer direct-to-consumer (DTC) websites in Argentina tend
to be clustered in these early-stage categories, with some like Canon and Samsung offering
localized sites for the country that are not currently transactional. And in Argentina, lowerincome metropolitan online consumers have started to purchase online, although not yet to the
same degree that they do in Brazil.20

Traditional retailers play a strong role online. MercadoLivre continues to dominate

Argentinas online retail market. Traditional retailers in Argentina have also started to embrace
the online channel: Leading retailers like CD Market, Falabella, Frvega, and Garbarino all
operate eCommerce sites. Additionally, the handful of global retailers that operate in Argentina
have often supplemented their retail stores with growing eCommerce offerings examples
include Wal-Mart and Staples, which, in addition to its consumer-facing offering, also boasts
that it is the largest B2B eCommerce company in South America.21

Figure 2 Forecast: Online Retail Spending In Argentina (B2C And C2C), 2013 To 2019
Forecast
Total online retail spending
(B2C and C2C)
(US$ billions)

Total online buyers

(millions)

3.4

4.9

5.9

7.0

8.3

4.1

2013

2014

2015

2016

2017

2018

2019

9.2

10.1

11.2

7.3

8.4

12.6

7.8

3.7

Source: Forrester Research Online Retail Forecast, 2014 To 2019 (Latin America)
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Source: Forrester Research, Inc. Unauthorized reproduction or distribution prohibited.

Mexico Is Shifting Toward Online Retail

Mexicos online retail market remains the smallest of the three markets in this report. B2C and
C2C online retail revenues of $2.8 billion in 2014 are set to grow to $6.7 billion by 2019, a CAGR of
19% (see Figure 3). The number of online buyers will increase from 10.1 million to 21.1 million, far
surpassing the total number of online buyers in Argentina but with half the average spending per
online buyer. In Mexico, we see that:

Todays small market shows longer-term potential. Hit hard by a market contraction in 2009
resulting from the global economic recession, Mexico has since bounced back. The size of the
Mexican economy has increased steadily since 2010, although growth rates have slowed in

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recent years. eCommerce, however, has continued its steady, upward climb throughout this
time; it started from a small base but is now gaining momentum. Although Mexico received a
lower score than Brazil and Argentina in Forresters eCommerce Readiness Index, the long-term
growth potential of the market remains sizable.22

Many early-stage eCommerce dynamics are evident. Mexicos eCommerce market, like that

of Argentina, shows many signs of a market in an early stage. Online travel purchases form a
large percentage of online sales, for example, and channel conflict remains a challenge for many
eCommerce leaders at omnichannel retailers. Cash both on delivery and at convenience
stores is a popular payment method for online purchases.23 These dynamics, however, tend to
give way with time: Consumers start to buy across a wider variety of categories online; shoppers
shift to online payment methods rather than cash; and retail organizations begin to prioritize
and champion the online channel. In addition, todays online retail sales, which remain
concentrated in consumer electronics and computer hardware, will diversify. The online buying
population will also expand to include more middle- and low-income shoppers.

Traditional retailers play a strong role in Mexicos eCommerce market. Mexicos market

includes a combination of web-only and traditional retailers. In looking at the leading online
retailers whose principal market is Mexico, many of the top players according to Internet
Retailers Latin America Top 500 are traditional retailers the list is topped by Liverpool.24
Additionally, web-only players such as Nettbee.com have established themselves as key players
in the eCommerce market. US players are also making the market a priority. In addition to
Wal-Mart which commands a significant market share in the country other omnichannel
retailers like Home Depot and Lowes launched eCommerce operations in Mexico in 2014,
while Williams-Sonoma partnered with Liverpool to offer eCommerce in the country.

Figure 3 Forecast: Online Retail Spending In Mexico (B2C And C2C), 2013 To 2019
Forecast

Total online retail spending

(B2C and C2C)
(US$ billions)

Total online buyers

(millions)

2.8

3.4

4.1

4.8

5.7

6.7

2.3
2013

2014

2015

2016

2017

2018

2019

8.8

10.1

11.7

13.7

15.8

18.3

21.1

Source: Forrester Research Online Retail Forecast, 2014 To 2019 (Latin America)
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R e c o m m e n d at i o n s

Take The Time To Fully Understand eCommerce Maturity Levels

The online retail markets of Latin America differ greatly in terms of size, maturity, and growth potential.
eBusiness professionals aiming to tap into the growing eCommerce markets in the region must:

Understand which eCommerce maturity phase each market is in. As in other parts of

the world, the sizes of eCommerce markets across Latin America do not directly correlate
with population size or GDP. While the countries highlighted in this forecast are arguably
closer in their stages of eCommerce development than the markets of Asia Pacific, for
example, there are still substantial differences. Savvy eBusiness leaders must take the time
to understand which product categories have shifted online and whether the online buying
population has expanded beyond the initial base of upper-middle-class and middle-class
online shoppers. These market dynamics can help brands determine if the market is ripe for
their products or if they need to plan for a much longer-term return on investment (ROI).

Work to establish a level of trust with consumers in earlier-stage markets. In earlier-

stage eCommerce markets like Mexico, it will be important for brands to focus on building
trust with online consumers. Forging partnerships with trusted names, for example, or
highlighting product return policies can help alleviate some of these concerns; a focus
on returns will be particularly critical in markets where returns are not a core part of the
traditional retail culture. Additionally, eBusiness leaders will need to pay particular attention
to fulfillment issues, as retailers in markets like Brazil have been challenged to meet
consumer demands around fulfillment while also moving toward profitability.

Ensure they implement key eCommerce features in more mature markets. In the more

mature markets of the region, such as Brazil, online retailers of all types must ensure they
are implementing must-have eCommerce features to optimize the customer experience
and differentiate their offerings from those of their competitors.25 From site navigation best
practices, such as streamlining access to discounted inventory, to exploring options such as
guest checkout or alternative payment types, eBusiness leaders in these markets must ensure
they are implementing the site features that will drive conversion. eCommerce companies
that fail to do so will fall behind entrenched, increasingly sophisticated players that are
evolving their offerings.

Focus on existing online retailer partnerships for brands as well as direct offerings.

Finally, it will be increasingly critical for brands eBusiness teams to focus on more than just
selling direct to consumers online in Latin America; eBusiness leaders at these organizations
must also identify areas where they can promote their brands on their online retail partners
websites as well as on marketplaces across the region. As eCommerce initiatives become
more sophisticated across the region, there will be growing opportunities for brands to

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Latin America eCommerce Forecast, 2014 To 2019

create more compelling offerings through partnerships. Indeed, for many brands today,
DTC websites generate just a small percentage of total online revenues, with marketplaces
and leading multibrand online retailers driving the lions share.

Supplemental Material
Methodology
For Forresters Latin American Technographics Online Benchmark Survey, 2013, Forrester
conducted an online survey fielded in May 2013 of 5,994 individuals ages 16 to 75 in top
metropolitan areas/provinces of Argentina and top metropolitan areas/states of Brazil and Mexico.
For results based on a randomly chosen sample of this size (N = 1,995 for Argentina; N = 2,001 for
Brazil; N = 1,998 for Mexico), there is 95% confidence that the results have a statistical precision
of plus or minus 2.2% of what they would be if the entire metropolitan population of individuals
ages 16 and older had been surveyed in each country. Forrester weighted the data by age, gender,
socioeconomic level (representing ABC1, C2, and C3 levels in Argentina; AB1, B2, and C1C2 levels
in Brazil; and ABC+, C, and D+ levels in Mexico), and city. The survey sample size, when weighted,
was 5,994. (Note: Weighted sample sizes can be different from the actual number of respondents to
account for individuals generally underrepresented in survey data.)
As part of the forecast modeling, Forrester develops comprehensive historical and base-year market
size estimates based on a variety of sources, including public financial documents, executive
interviews, Forresters proprietary primary consumer and executive research, and analysis of the
Internet traffic database.
All of Forresters forecasts are designed by a dedicated team of forecasting analysts who build
the models, conduct extensive industry research, and manage the process of formally building
consensus among Forresters analysts. Forecast analysts have backgrounds in investment banking,
management consulting, and market research, where they developed extensive experience with
industry and company forecasting.
For more information on Forresters ForecastView offering, including access to additional details
and metrics not included in this report, please contact us at data@forrester.com.
Endnotes
Source: Central Intelligence Agency (https://www.cia.gov/library/publications/the-world-factbook/
fields/2177.html).

To read more about global eCommerce adoption, see the March 28, 2014, The Evolution Of Global
eCommerce Markets report.

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Latin America eCommerce Forecast, 2014 To 2019

Source: Francisco H. G. Ferreira, Julian Messina, Jamele Rigolini, Luis-Felipe Lpez-Calva, Maria Ana Lugo,
and Renos Vakis, Economic Mobility and the Rise of the Latin American Middle Class, The World Bank,
2013 (http://siteresources.worldbank.org/LACEXT/Resources/English_Report_midclass.pdf).

Source: Paulo Prada, Special Report: Why Brazils new middle class is seething, Reuters, July 3, 2013
(http://www.reuters.com/article/2013/07/03/us-brazil-middle-specialreport-idUSBRE9620DT20130703).

Source: The World Bank (http://data.worldbank.org/indicator/NY.GDP.PCAP.CD).

For more information, please check out the chart on page 213 with average spending on primary, secondary,
and post-secondary non-tertiary education. Source: Education at a Glance 2014: OECD Indicators, OECD
Publishing, 2014 (http://www.keepeek.com/Digital-Asset-Management/oecd/education/education-at-aglance-2014_eag-2014-en#page213).

For more information on hiring trends in Brazil, please see the December 3, 2014, Retail eCommerce In
Brazil: Team Headcount, Priorities And Challenges report.

Marketers thought social networks would revolutionize their customer relationships thats why Twitter
accounts and Facebook pages are, by far, brands most common social tactics. But if youre like most
marketing leaders, youre still struggling to generate business value from social relationship marketing. Just
55% of marketers who maintain a Facebook page are satisfied with the results. Marketers who use Twitter
say it doesnt perform much better. To read more, please see the November 17, 2014, Social Relationship
Strategies That Work report.

Source: Forresters Latin American Consumer Technographics Online Benchmark Survey, 2014; Forresters
North American Consumer Technographics Online Benchmark Survey (Part 1), 2014.

In the US, the figure of those who agree with the statement was 36%; in Metro Brazil it was 56%, in Metro
Mexico it was 48%, and in Metro Argentina it was 46%. Source: Forresters North American Consumer
Technographics Online Benchmark Survey (Part 1), 2014; Forresters Latin American Consumer
Technographics Online Benchmark Survey, 2014.

10

Source: Forresters Latin American Technographics Online Benchmark Survey, 2014 (Argentina, Brazil,
Mexico); Forresters North American Consumer Technographics Online Benchmark Survey (Part 1), 2014.
Source: Forresters Latin American Technographics Online Benchmark Survey, Q3 2012 (Argentina, Brazil,
Mexico).

11

Source: Forresters Latin American Consumer Technographics Brazil Survey, 2014.

12

Globalizing your eCommerce business isnt just an option anymore in many cases, its an imperative.
However, winning global customers online spend often means adapting to local preferred payment
methods. For merchants, the implications of establishing and accepting market-specific online payment
types reach well beyond the checkout process into localized risk management, reconciliation, and complex
regulatory and banking relationships. Merchants have the option to try to manage it all themselves, but

13

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Latin America eCommerce Forecast, 2014 To 2019

eBusiness professionals are often looking to partner with payment service providers (PSPs) to help manage
and streamline these complex payment processes. See the November 21, 2013, Market Overview: Global
Payment Service Providers 2013 report.
Source: Mercado de Cartes, Brasileiro paga metade dos gastos com carto, ABECS, October 30, 2013
(http://www.abecs.org.br/noticia/brasileiro-paga-metade-dos-gastos-com-cartao).

14

Source: Forrester Research World Mobile And Smartphone Adoption Forecast, 2014 To 2019 (Global).

15

Source: Forrester Research Online Retail Forecast, 2014 To 2019 (Latin America).

16

World Bank GDP forecast in constant 2010 USD. Source: Country and region specific forecasts and data,
The World Bank (http://www.worldbank.org/en/publication/global-economic-prospects/data).

17

In 2009, we found that even as consumer confidence hovered around all-time lows and most consumer
companies struggled to even match the previous years revenue, shoppers were nonetheless turning to the
Web and driving growth in the online channel. See the April 29, 2009, Trends 2009: US Online Retail
report.

18

Source: Forresters Latin American Consumer Technographics Online Benchmark Survey, 2014.

19

The percentage of low-income online users who had bought and paid online was 31% in metro Brazil and
23% in metro Argentina. Source: Forresters Latin American Consumer Technographics Online Benchmark
Survey, 2014.

20

Source: Staples (http://staples.newshq.businesswire.com/about/corporate_overview/

international#axzz2lbjhiSzj).

21

Forresters eCommerce Readiness Index assesses the eCommerce environment and the retail opportunity in
different countries. For more information, read the refreshed data in the July 24, 2014 Forrester Readiness
Index, eCommerce, 2014 spreadsheet and see the September 18, 2013, Forrester Readiness Index: 2013
eCommerce Global Study report.

22

Source: Forresters Latin American Consumer Technographics Online Benchmark Survey, 2014.

23

Internet Retailer Latin America Top 500 lists the top online retailers in Latin America by their principal
market.

24

Companies often struggle with how to prioritize the countless issues that populate eCommerce to-do
lists. This chapter of the retail eCommerce playbook is a prescriptive look at the industry standards and
opportunities for differentiation in a retail eCommerce experience. Weve divided the key opportunities
into features and functionality to improve a sites navigation, the product detail page, and the checkout
experience. The report also discusses additional areas of opportunity such as fulfillment, customer service,
and multichannel execution. See the October 6, 2014, Must-Have eCommerce Features report.

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2015, Forrester Research, Inc. Reproduction Prohibited

January 15, 2015

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