Mobile will capture more than half of retail ecommerce sales in Latin America next year
The forecast: Next year, more than half (51.1%) of retail ecommerce sales in Latin America will take place on mobile devices for the first time—a figure equal to $75.65 billion.
From 2016 to 2019, mobile’s share of retail ecommerce sales in Latin America about doubled from 20.9% to 40.2%.
Going deeper: We expect 2021 to be another year of strong double-digit gains for Latin America’s mcommerce market, with Brazil in the No. 1 spot (34.9%), Mexico in third (31.7%), and Argentina in fourth (30.6%).
Brazil and Mexico will be the region’s two largest retail mcommerce markets, representing 57.7% of all retail mcommerce sales in Latin America this year.
Brazil alone will represent nearly one-third (32.5%) of retail mcommerce sales, at $20.84 billion (BRL107.45 billion), while Mexico will account for over a quarter (25.2%) of sales, at $16.15 billion (MXN351.62 billion).
Argentina will contribute 10.0% of regional mcommerce sales in 2021, or $6.38 billion (ARS488.70 billion), but its share will fall to 8.4% in 2025 due to the country’s current economic situation.
The bigger picture: Broader internet access, including for consumers in more remote areas, has allowed consumers in Latin America to make purchases any time, anywhere from their mobile devices. The rise in mcommerce will be one of the main drivers of future retail ecommerce growth.
For marketers in Latin America, mcommerce is rapidly gaining share. It's also making up a larger portion of retailers’ bottom lines in the region and becoming an integral part of their go-to-market strategies and investments.
These double-digit gains will continue through the end of the forecast period in 2025. Argentina and Mexico will be the only two countries whose retail mcommerce markets will see growth taper off into the single digits in 2024 and 2025.
Insider Intelligence subscribers can learn more about retail ecommerce trends in Latin America by reading our July reports: