The LAMEA e-commerce industry is expected to see a CAGR of 18.3% during the period. Latin America and MEA (the Middle East and Africa) contribute steadily to the growth of global the e-commerce industry. Major economies such as Brazil, Argentina, GCC (Gulf Cooperation Council) countries, and Israel, among others, contribute considerably to the growth of the e-commerce sector in Latin America, and MEA, however, there is a slow growth of the industry in the region for a long owing to the macroeconomic challenges faced by the Brazilian retailers. The struggling economy of Brazil is one of the major factors to slower down the regional growth of the industry. The economic crisis, high unemployment rate, and high inflation are slowing the growth of the e-commerce industry in Latin America. However, the recent COVID-19 outbreak has increased the usage of e-commerce in Latin America as compared to the pre-COVID-19 scenario.
Covid-19 offers considerable opportunity for the e-commerce industry, according to the Lima Chamber of Commerce, in 2020, owing to an increase in online purchases around the globe. For instance, Brazilians online purchasing was increased by 40.0% in the first two weeks of March 2020, as compared to the previous year. However, cross-border e-commerce has been affected negatively as Brazilian consumers stopped buying products online from China. E-commerce companies such as MercadoLibre are experiencing changes. MercadoLibre has reported that it’s pharmacy and home and laundry sales in Mexico rose 114% and 403%, respectively in March 2020.
LAMEA e-commerce industry report is segmented into electronics, apparel, healthcare, pharmaceuticals, and nutritional products, beauty and personal care, and others. Healthcare, pharmaceuticals, and nutritional products segment is anticipated to exhibit the highest growth in 2020. The demand for vitamins & proteins to maintain the immunity level of consumers is a key factor contributing towards the high growth of the market segment. Moreover, the e-commerce market for beauty & personal care products will grow at the second-highest growth in 2020. The high demand for personal care products to maintain hygiene is anticipated to be the key factor contributing to the growth of the market segment.
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Verticals Affected Most
- Electronics
- Apparel
- Beauty & Personal Care
- Healthcare, Pharmaceuticals & Nutritional Products
- Others (Home Furnishing Products, Books, Grocery, and Automotive)
Impact of COVID-19 on Major Economies
- Brazil
- Argentina
- UAE
- Kenya
- South Africa
- Nigeria
- Rest of LAMEA
A full Report of LAMEA E-Commerce Market is Available @ https://www.omrglobal.com/industry-reports/lamea-e-commerce-market
Company Profiles
- com, Inc.
- BinDawood
- Dafiti
- eBay, Inc.
- Lojas Americanas
- Magazine Luiza
- Majid Al Futtaim (MAF)
- Mercado Libre, Inc.
- com
- Walmart, Inc.
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