4 essential factors about the LATAM economy
Before addressing which devices better suit the needs of the LATAM online customers, you must acknowledge 4 important factors about this set of geo-economies:
1) The LATAM emerging markets – especially Brazil, Chile, Colombia, Mexico, Peru, and Argentina – will serve as the engine of global growth in the years to come;
2) Latin America is a region with one of the most significant growth rates of internet users, increasing from 333.12 million in 2015, to 384.75 million in 2016, to 404.27 million in 2017, and to 438.25 million in 2018;
3) The projections foresee that in 2019 155.5 million people in LATAM will buy goods and services online, a significant increase from 126.8 million in 2016;
4) The largest age group are the Millennials (30%) followed by Generation X (27%) and Generation Z (26%).
Which devices serve Latin America’s consumers the best?
The first step to reach consumer’s online preferences is to analyze the internet penetration rate in each one of the above-mentioned emerging markets:
Although the use of mobile devices is increasing and is expected to play an important role, when it comes to e-commerce transactions consumers still prefer desktop or laptop computers (59%), especially regarding international shopping. According to a research performed by PayPal, domestic (48%) and international (44%) shopping rates in Latin America are almost side by side. Since these figures are so levelled, it becomes relevant to take a look at how shoppers access the internet:
Latin America holds a significant share of the world´s emerging markets, and the potential development of the infrastructure, communications and technology sectors makes it very attractive to investors. Please do take into consideration its political, financial and cultural diversity while planning your marketing strategies.
Get in touch with us to learn how BoaCompra can help your company expand to this promising market: