Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "Brazil Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals, Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.
Ecommerce market in Brazil is expected to grow by 11.04% on annual basis to reach US$56.9 billion in 2022. Medium to long term growth story of Ecommerce industry in Brazil promises to be attractive. The Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 9.34% during 2023-2027. The Ecommerce gross merchandise value in the country will increase from US$51.2 billion in 2022 to reach US$81.3 billion by 2027.
The Ecommerce industry has been growing at a rapid rate in Brazil, amid the growing investment and innovation from domestic and global players operating in the country. From enhancing the logistic network to focusing on growth, firms have adopted a different approach to further consolidate their position in the growing Brazilian Ecommerce market, which is largely dominated by MercadoLibre.
Global players have been also seeking to localize their products and services to gain more traction among consumers. Social commerce is also emerging as a strong sales channel, and more retailers are expected to adopt it from the short to medium-term perspective. With the industry expected to keep continuing its growth momentum, the publisher expects global players to further increase their investment in the Brazilian market over the next three to four years.
Ecommerce platforms are launching their own altcoins and allowing consumers to pay through it
The popularity of cryptocurrencies has surged significantly among consumers in Brazil over the last two years. Amid the growing adoption of bitcoin and other altcoins, Ecommerce platforms are launching their own projects and allowing consumers to pay with their altcoins.
MercadoLibre, the Argentina-based Ecommerce firm, has launched its own digital coin in Brazil. Termed Mercado Coin, the digital currency allows consumers to fund their purchases using altcoins. At the end of August, the firm made the digital coin available to more than 80 million customers in Brazil and is also planning to extend the capabilities to more Latin American markets. The cryptocurrency has been linked with the loyalty program. Customers will earn the coins when they make purchases on the platform and redeem them on future purchases.
From the short to medium-term perspective, the publisher expects more such innovative product launches from Ecommerce platforms in the country, which will assist them in further driving their order volume and growth.
Global Ecommerce firms are seeking to expand their presence in the Brazilian online shopping industry
To capitalize on the growing Ecommerce market in Brazil, global players are seeking to expand their presence by increasing their investment in the market and adopting strategic initiatives such as localization.
In October 2022, TikTok, the China-based social commerce firm, announced that it plans to expand its operations in the Brazilian market, as part of its strategy to drive user growth and revenue in the global market.
Another China-based short-video firm, Kuaishou, is planning to accelerate its expansion in the Brazilian market. The firm, which operates Kwai in Brazil, has planned to partner with local businesses to drive traffic and boost user retention. In the social commerce space, the firm already has a strong foothold in the Brazilian market and through its localization strategy, the firm aims to further consolidate its position in the Ecommerce market.
Cainiao, the logistic service of Alibaba, opened a headquarter in Brazil in November 2022. The expansion in the country comes at a time when retail growth has slowed down in China.
With all of these Chinese firms investing significantly in the Brazilian market, the publisher expects the industry to record strong growth over the next three to four years. Furthermore, this will also drive the competitive landscape of the Ecommerce sector from the short to medium-term perspective in Brazil.
Food delivery platforms are focusing on growth rather than profitability in Brazil
The online food and grocery delivery segment have undergone major consolidation in 2022. The trends are also projected to further continue in 2023, amid the economic uncertainties presented in the global market. As a result of consolidation, most players in the global markets are focusing on profitability. In Brazil though, firms are focusing on growth rather than profitability.
iFood, one of the leading players in the segment, announced that the firm would be more focused on growth rather than profitability in H2 2022. Earlier in the year, Uber Eats announced that it is exiting operations in Brazil, and as a result, Rappi has become the major competitor for iFood in the country.
In H1 2022, the firm continued to record strong growth owing to its expansion in the supermarket delivery space and fintech business. According to Just Eat Takeaway, which sold 33% of its stake in iFood to Prosus, the firm recorded a revenue of US$484.7 million in H1 2022, representing a growth of 28% year over year.
As the firm continues to expand its network of supermarkets and adds new segments such as pharmacy and liquor stores, the publisher expects iFood to keep recording strong growth from the short to medium-term perspective.
|No. of Pages||110|
|Forecast Period||2023 - 2027|
|Estimated Market Value (USD) in 2023||$58.59 Billion|
|Forecasted Market Value (USD) by 2027||$83.74 Billion|
|Compound Annual Growth Rate||9.3%|
Brazil Ecommerce Market Share by Key Players
- Brazil Retail Shopping Ecommerce Market Share by Key Players (Amazon Brazil, Americanas, Casas Bahia, Magazine Luiza, Mercado Livre)
- Brazil Travel Ecommerce Market Share by Key Players (AJ Mobilidade, CVC Brasil, Decolar Brasil, Flytour)
- Brazil Food Service Ecommerce Market Share by Key Players (99Food, iFood, James Delivery, Rappi, Uber Eats)
Brazil Ecommerce Market Size and Future Growth Dynamics
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Gross Merchandise Volume Trend Analysis
Brazil User Statistics and Ratios of Key Performance Indicators
- User Statistics
- Card Abandonment Rate and Product Return Rate
- Ecommerce Per Capita and GDP Per Capita
- GDP Per Capita Trend Analysis
Brazil Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2018-2027
- Retail Shopping (breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
- Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
- Online Food Service (breakdown by aggregators, direct to consumer)
- Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
- Healthcare and Wellness
- Technology Products and Services
- Other segments
Brazil Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
- Platform to Consumer
- Direct to Consumer
- Consumer to Consumer
Brazil Ecommerce Market Share by Travel and Hospitality Sales Channel
- Market Share by Travel and Hospitality Sales Channel
- Aggregator App - Gross Merchandise Value Trend Analysis
- Direct to Consumer - Gross Merchandise Value Trend Analysis
Brazil Ecommerce Market Size and Forecast by Online Food Service Sales Channel
- Aggregator App
- Direct to Consumer
Brazil Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2018-2027
- Website Based
- Live Streaming
Brazil Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2018-2027
- Cross Border
Brazil Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Market Size and Forecast by Operating System
- Other Operating Systems
Brazil Ecommerce Market Size and Forecast by City
- Tier 1
- Tier 2
- Tier 3
Brazil Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2018-2027
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Other Digital Payment
Brazil Ecommerce Consumer Demographics
- Market Share by Age Group
- Market Share by Income Level
- Market Share by Gender
For more information about this report visit https://www.researchandmarkets.com/r/duaqh0
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