Updated: Aug 20, 2021
2018, e-commerce in Latin America totaled $109 billion —this includes all facets of card-not-present transactions spanning Mexico, Central America, South America and the Caribbean, and including retail, travel and digital goods, domestic and cross-border e-commerce, and all payment methods. Growing at 20% annually, this $109 will reach $187 bn by 2021 (see Figure 1).
This global view of e-commerce enables merchants to truly gauge the appeal of Latin America’s ever-growing digital environment. What’s more—cross-border e-commerce is growing more than double that of domestic e-commerce, at 42% annually through 2021. Attracted to international brands by price, variety, and security offered in the online shopping experience, Latin Americans are increasingly looking outside their region for myriad goods and services.