The COVID-19 pandemic drastically changed the way we work, shop, sell, and live. Indeed, 2020 will go down in history as a period unlike any other in the way it significantly accelerated the demand for online products and services.
Latin America and cross-border e-commerce growth
As vaccinations against the virus are rolled out across the globe, merchants will be looking to adapt their approach to keep pace with e-commerce growth. One way of doing this is looking beyond their own borders and tapping into the opportunity presented by high-growth markets.
PayU’s recent report, ‘The Next Frontier: The most promising markets for emerging E-commerce Leaders in 2021 and beyond’ has found that Latin America is a prime example of these high-growth markets. In fact, online retail sales in the region rocketed to $83.63 billion in 2020, almost tripling in value in less than five years.
Mario Shiliashki recently discussed the findings of the report on The eCommerce Growth Show. You can watch the full episode here: