E-Commerce has increased 5 times in Latin America by 2020 due to Corona
E-commerce in 2020: E-Commerce has increased 5 times in Latin America by 2020 due to Corona
E-commerce in 2020: E-commerce transactions in Latin America increased five times during 2020, according to an analysis by the Latin American and Caribbean consulting firm Visa Consulting & Analytics.
“The analysis shows a sustainable growth in the use of e-commerce by consumers in Latin America and the Caribbean,” said Javier Vásquez, Regional Head of Visa Consulting & Analytics for Latin America and the Caribbean.
He added, “It also shows a shift towards the adoption of digital online payments during the epidemic compared to the pre-Covid-19 era,” according to the Argentine newspaper, Clarin.
He said that analyzing trends in digital payments and Visa knowledge allow financial institutions and companies to support to deepen their knowledge of consumer priorities and improve payment experiences, adding, “This information is particularly important during these times of change resulting from the Covid-19 epidemic.”
The newspaper pointed out that the most consuming categories of consumption recorded the largest impact during the epidemic in Latin America and the Caribbean, based on the number of transactions made between March and October 2020 compared to the same period in 2019:
Have a positive effect
Categories of digital goods (games, apps, books, content, streaming platforms, and online TV) and recurring payments (cable or satellite television, radio, and public services such as electricity, gas, and subscriptions).
Professional services are also included (cleaning services, construction, household services, warehousing, removal, financial services and legal expenses).
The negative impact
Categories of airlines, travel expenses, housing, car rental and transportation.
The analysis also identifies two trends that show signs of recovery in the retail segment, such as department stores, apparel, and electronics:
The number of retail sales transactions (both face to face and online) rose from its lowest point in April to its highest point in October 2020, and the number of transactions in the online retail consumer segment nearly doubled in October 2020 compared to the average levels recorded between January and February 2020.