Brazil e-Commerce Market Databook Report 2023: 100+ KPIs on Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics 2018-2027
DUBLIN, Nov. 16, 2023 /PRNewswire/ -- The "Brazil Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals, Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.
MercadoLibre, the Argentina-based Ecommerce firm, has launched its own digital coin in Brazil. Termed Mercado Coin, the digital currency allows consumers to fund their purchases using altcoins. At the end of August, the firm made the digital coin available to more than 80 million customers in Brazil and is also planning to extend the capabilities to more Latin American markets. The cryptocurrency has been linked with the loyalty program. Customers will earn the coins when they make purchases on the platform and redeem them on future purchases.
From the short to medium-term perspective, the publisher expects more such innovative product launches from Ecommerce platforms in the country, which will assist them in further driving their order volume and growth.
In October 2022, TikTok, the China-based social commerce firm, announced that it plans to expand its operations in the Brazilian market, as part of its strategy to drive usergrowth and revenue in the global market.
Another China-based short-video firm, Kuaishou, is planning to accelerate its expansion in the Brazilian market. The firm, which operates Kwai in Brazil, has planned to partner with local businesses to drive traffic and boost user retention. In the social commerce space, the firm already has a strong foothold in the Brazilian market and through its localization strategy, the firm aims to further consolidate its position in the Ecommerce market.
Cainiao, the logistic service of Alibaba, opened a headquarter in Brazil in November 2022. The expansion in the country comes at a time when retail growth has slowed down in China.
With all of these Chinese firms investing significantly in the Brazilian market, the publisher expects the industry to record strong growth over the next three to four years. Furthermore, this will also drive the competitive landscape of the Ecommerce sector from the short to medium-term perspective in Brazil.
iFood, one of the leading players in the segment, announced that the firm would be more focused on growth rather than profitability in H2 2022. Earlier in the year, Uber Eats announced that it is exiting operations in Brazil, and as a result, Rappi has become the major competitor for iFood in the country.
In H1 2022, the firm continued to record strong growth owing to its expansion in the supermarket delivery space and fintech business. According to Just Eat Takeaway, which sold 33% of its stake in iFood to Prosus, the firm recorded a revenue of US$484.7 million in H1 2022, representing a growth of 28% year over year.
As the firm continues to expand its network of supermarkets and adds new segments such as pharmacy and liquor stores, the publisher expects iFood to keep recording strong growth from the short to medium-term perspective.
Brazil Ecommerce Market Share by Key Players
Brazil Ecommerce Market Size and Future Growth Dynamics
Brazil User Statistics and Ratios of Key Performance Indicators
Brazil Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
Brazil Ecommerce Market Share by Travel and Hospitality Sales Channel
Brazil Ecommerce Market Size and Forecast by Online Food Service Sales Channel
Brazil Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Market Size and Forecast by Operating System
Brazil Ecommerce Market Size and Forecast by City
Brazil Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2018-2027
Brazil Ecommerce Consumer Demographics
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