Called “Seizing the Cross-Border Opportunity,” the study is published by VISA and was carried out by Euromonitor. It discovered that over the last year, 61% of Mexicans paid more than $101 online. They were followed by Brazilians (56%), Colombians (29%) and Puerto Ricans (17%).
The study also revealed that 81% of people in LATAM make online purchases in the US, which is 21% more than the global average. What’s more, 91% of LATAM consumers buy outside of their own country and 69% make purchases via their smartphone.
In Mexico, the e-Commerce market is valued at $164bn, which is an increase of over 42% when compared to 2014. Currently there are 9.6 million registered digital buyers in Mexico, which is expected to climb to 10.9 million. These figures have been compiled by the Mexican Internet Association (AMIPCI). The research also concluded that Mexicans mostly shop online for computers, computer accessories, services, clothing and footwear, and travel.
As for other countries in the region, Chile is experiencing fast growth and the Center for the Study of the Digital Economy of the Chamber of e-Commerce of Santiago (CCS) said digital transactions accounted for $94m of sales in 2014. Consumers in Chile favour travel and tourism services, durable goods, furniture and clothing and footwear.
Similar fast growth is being experienced in Colombia were e-Commerce grew by 41.3% in2014. Online products popular with Columbians included airfare and hotel reservations, electronics, and clothing and footwear.
In Guatemala, e-Commerce is expected to show a rise of 27% during 2014, but the expansion of the digital market is being held back by the lack of an ability to pay by credit cards and that only 15% of the population have access to the internet.
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