Brazil is not only the biggest but also the most
developed e-commerce markets in the Latin America. With
over 42% share, Brazil has the strongest cross-border consumer market in Latin
America. US were the top destination for cross-border e-commerce with other top
countries being China, Hong Kong, Japan and Canada. Prices of imported products
were traditionally high owing to high import duties, taxes and stringent labor
law.
The online
retail market in Brazil has fared better than the online travel market in terms
of GMV generated through online medium. Owing to meteoric rise in internet
penetration in the country and the subsequent rise in e-consumers, both retail
and travel market witnessed skyrocketing incline in the number of daily
transactions by consumers.
Online travel market in Brazil grew at much
higher growth rate during the same period. The online travel market grew at a
CAGR of 36.0% during 2010 and 2015. Major online travel agencies included
Decolar, Hotel Urbano, CVC Brasil, Booking.com and ViajaNet amongst others.
With the rising
number of e-commerce transactions there will be an increase in number of
companies offering logistics services which will further intensify the
competition in the logistics market. This will lead to the improvements in the
logistics services for packing, tracking and delivering at lower prices. Since
logistics is an important component of the e-commerce market, improvements in
logistics network will drive the retailers to go online with cheaper products
and better services with respect to product deliveries and reverse logistics.
It has been
observed that around 76 out of every 100 adults in Brazil possess a payment
card as of 2015. This is the major cause behind such a high share of online
payments in Brazilian online shopping market. Online payments in Brazil are
dominated by the credit cards and Boleto Bancario.
Convenience is
the major factor behind the incline in online ticketing; these platforms help
the consumer to book tickets at any place without standing in the line. Also,
online bookings these days provide easy price comparisons for different tickets
which helps consumer choose the best option
The popularity
of these products in online shopping is attributable to innovations which tap
into the consumers needs; many new ingredients were used to capture consumers’
notice under the intense competition. The best part of these ingredients is
that they use the natural products which are extremely easily attainable.
Consumers have shown a positive outlook for such innovations.
For more
information on the market research report please refer to the below link:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
