12:30 h / 2020/12/21
The pandemic has had a profound impact on Latin America’s retail industry. Mandated stay-at-home orders in several countries forced retailers to close physical stores, wreaking havoc on many companies’ bottom lines. Still, retailers’ and shoppers’ warm embrace of ecommerce has been a silver lining, with predictions that Retail ecom sales will grow 36.7% this year.
This impressive growth will also make Latin America the fastest-growing regional retail ecommerce market for the first time since insiderintelligence.com began covering the region in 2009, and no Asia-Pacific country as normally. This growth partly stems from the fact that two of the region’s economic powerhouses - Buenos Aires, Argentina, and São Paulo, Brazil - have been under some of the longest government-mandated lockdowns worldwide since March 20 and 22 respectively.