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El ecommerce You have experienced exponential growth in recent years, we are witnessing the evolution of a phenomenon that will not stop. How did the electronic commerce During 2021? Let's look at some facts and Significant Figures That the last year leaves us.
Next, we will analyze four fundamental aspects of measurement in ecommerce, which gives us a rather interesting overview of their behavior in Latin America:
* Internet Penetration
* Increase in the number of online shoppers
* Participation of the ecommerce In retail
* Online sales
Significant figures in ecommerce: Internet Penetration
Studies carried out by Hootsuite show that the number of Internet users continues to increase every day, expecting it to reach 5 billion in 2022, a figure that by 2021 was 4,950 million people, which represents 62.5 percent of the world's population.
Internet Penetration By regions
The greater the Internet connection also generates a greater number of online buying and selling transactions, since there is not only access to online stores but also to new channels or modalities such as social networks or live sales, which, without a doubt, has contributed to Growth of e-commerce in Latin America and the world. Let's see how our region compares to other territories with greater and lesser evolution in this field.
During 2020, we saw that, according to ECLAC studies, Latin America reached 74% in Internet penetration, a figure that for North America it was 88% and for Western Europe 92%. By 2021, the latter's penetration increased to 94%, while North America rose to 92% and Latin America reached 75%.
The region with the highest Internet penetration today is Northern Europe, with 98%, while the least connected are Central Africa and East Africa with 24 and 26% respectively.
If we talk about China, The strongest e-commerce economy in the world, we found that according to China's 48th Statistical Report on Internet Development, the penetration rate for June 2021 reached 71.6% in that territory, a figure that may seem low compared to North America or similar to that reported by Latin America, however, the population in China exceeds 1.4 billion inhabitants in a single country, a figure that far exceeds the total number of inhabitants of the other two regions together (LA: 660 million - NA: 330 million).
Significant figures in ecommerce: Increase in buyers
According to studies by Statista, in recent years, Latin America has experienced a progressive growth of online shoppers, registering 267 million in 2020, which meant a growth of 55% for that year, a figure that was above the global average, which, for this same period of time, registered a growth of 15 points.
According to the latest projection made by Statista, based on growth levels, it is expected that by 2024 the number of online buyers will reach 351 million users in Latin America, estimating an average growth of approximately 21 million per year. This may indicate that by 2021 the number of buyers in Latin America reached 288 million.
Significant figures in ecommerce: Share in retail sales
Year after year, the electronic commerce has been gaining ground in retail sales, increasing its penetration in this market. Globally, 19.6% of retail sales made in 2021 were digital channels, a figure that reached 18% by 2020 (eMarketer).
In Latin America the Online sales they represented 5.6% of total retail sales in 2020, a figure that by 2021, it is estimated, reached a share of 6.2%. For the case of Mexico, we found that during 2021 they were registered Online sales for $401.3 billion pesos, equivalent to a growth of 27% compared to 2020, which represented 11.3% of total retail sales in the country; 2.3 points more than in 2020, where the Penetration of ecommerce in retail was 9%, according to figures from the AMVO.
Also read: Ecommerce growing by leaps and bounds
In the case of Colombia, according to the Colombian Chamber of Electronic Commerce, during the first 8 months of 2021, the Online sales accounted for 2.7% of total retail sales in the country, a figure that for 2020 stood at 2%, registering growth of 0.7%.
If we move to China, we find that, according to the Marketer, the Asian country recorded sales of 2,297 trillion in 2020., which represented 44.8% of its total retail sales, by 2021, its sales increased to 2,779 trillion, which meant 52.1% of penetration of ecommerce in retail.
The Asian country's e-commerce figures are so impressive, that it is estimated that 56.8% of sales of ecommerce in the world, are produced in this territory.
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Significant figures in ecommerce: online sales
Global e-commerce grew 16.8% in revenues during 2021, representing approximately 4.9 trillion dollars for this year, a figure that for 2020 registered a total of 4.2 trillion dollars worldwide.
Within this scenario, during 2021, Asia and North America continued to lead as the regions with the best e-commerce figures in the world, their influence is such that Asia-Pacific recorded approximately 60% of global online sales, while North America, with USD 843 billion, ranked second with 20%, followed by Western Europe with 12%. The remaining 8% is distributed between Eastern Europe (fourth place), Latin America (fifth place) with sales close to USD 90 billion and the African region (sixth place), according to figures from Statista.
The following graph shows the top 10 countries in Online sales during the years 2020 and 2021 (figures in trillions).
Other interesting facts in e-commerce
* “In 2021, Brazil and Mexico accounted for more than 70% of e-commerce market in Latin America, followed by Colombia. It is expected that in the coming years, other countries in the region such as Chile, Argentina and Peru will experience rapid Growth in ecommerce”.
* In general projections, it is expected that the e-commerce in Latin America grow by 31% per year until 2025 (NubeCommerce).
2021 was characterized by harmonizing Covid measures with the daily lives of millions of people; this phenomenon left us not only multiple life lessons, but also changes in shopping habits that will continue to increase the number of users who choose online stores as their first shopping option.
The digital channel will not stop its journey towards growth, the challenge now is how can the different ecommerce players to face the increasingly challenging needs of the end user, where differentials, service and delivery times are becoming more and more, the battlefield where customers are won or lost.
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Sources of information:
The Economist / Marketing4eCommerce / Hootsuite / BlackSIP/Content.BlakSIP
Statista / Statista / Statista / BNamericas / D1iH8 game 25mm / Analytic value / The financial / Eluniversal / Statista / Marketing4eCommerce / Mintic / Statista / Brazil Agency / Statista / Telam / Tolltester / eMarketer / eMarketer / CCCE / Expansion / Americaretail
48th China Statistical Report on Internet Development/Online Sales Study, the Mexican Digital Consumer AMVO 2022
