Brazil’s E-Commerce Market Will Reach US$41.9 Billion In 2024
Jayson 01 Feb 2024 08:19
According to news on January 10, the Brazilian E-commerce Association (ABComm) recently predicted that the Brazilian e-commerce market will maintain a steady growth momentum in the next few years. By 2024, e-commerce revenue may reach 204.27 billion reais (41.94 billion U.S. dollars). , a year-over-year sales forecast increase of approximately 10% for 2023.
Previously, data also came from ABComm. In the first half of 2023, Brazilian e-commerce sales had reached US$80.4 billion, a year-on-year increase of 2%. Boosted by subsequent popular sales such as Black Friday, Cyber Monday, and Christmas, Brazilian e-commerce sales are expected to reach 185.7 billion reais in 2023.
Coincidentally, Mordor Intelligence has also conservatively predicted that from 2023 to 2028, the Brazilian e-commerce market will develop rapidly at a compound annual growth rate of 18.91%, and its market size will grow to US$105.69 billion by 2028. It should be noted that the steady growth of the Brazilian e-commerce market is the result of a combination of multiple factors.
On the one hand, with the popularization of smartphones and the continuous advancement of Internet technology, more and more Brazilians will choose to shop on e-commerce platforms. On the other hand, e-commerce platforms are also constantly launching more innovative products and services to meet the diverse needs of consumers.
At the same time, the booming development of cross-border e-commerce has become an important development direction of the Brazilian e-commerce market. The influx of e-commerce giants such as Amazon, SHEIN, and Shopee has brought more development possibilities to the market.
Previously, data also came from ABComm. In the first half of 2023, Brazilian e-commerce sales had reached US$80.4 billion, a year-on-year increase of 2%. Boosted by subsequent popular sales such as Black Friday, Cyber Monday, and Christmas, Brazilian e-commerce sales are expected to reach 185.7 billion reais in 2023.
Coincidentally, Mordor Intelligence has also conservatively predicted that from 2023 to 2028, the Brazilian e-commerce market will develop rapidly at a compound annual growth rate of 18.91%, and its market size will grow to US$105.69 billion by 2028. It should be noted that the steady growth of the Brazilian e-commerce market is the result of a combination of multiple factors.
On the one hand, with the popularization of smartphones and the continuous advancement of Internet technology, more and more Brazilians will choose to shop on e-commerce platforms. On the other hand, e-commerce platforms are also constantly launching more innovative products and services to meet the diverse needs of consumers.
At the same time, the booming development of cross-border e-commerce has become an important development direction of the Brazilian e-commerce market. The influx of e-commerce giants such as Amazon, SHEIN, and Shopee has brought more development possibilities to the market.
