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Brazilian E-Commerce Market Expanding Despite Economy
One of the biggest economies in South America has not been faring well lately. Brazil, the largest country by population on the continent, has been suffering from economic hardships. Credit card debt, skyrocketing inflation, and other factors have brought consumer spending to a grinding halt. However, one bright spot remains—the Brazilian e-commerce market is growing.
How E-Commerce Could Help BrazilBrazil is not a poor country by any means. As the South American nation increases its presence on the global stage, it has established itself as the economic leader of the entire continent. However, the citizens of Brazil are having trouble saving money, and in turn, have stopped spending it. E-Commerce could be a solution to Brazil’s economic gridlock. Brazilian e-commerce grew by 9% from 2013 to 2014, according to Latinvex. And that number is expected to increase again by the end of 2015. In-store retail spending has flatlined during the same time frame. Brazilians are increasingly turning to e-commerce for its convenience and chances to save more money. Cross-border e-commerce is playing a large role here, with 2014 seeing $2.7 billion spent on imported goods. If Brazil can encourage more e-commerce spending through local merchants, it could provide the economy with the jumpstart it needs.
Brazilian E-Commerce Good for MerchantsThe jump in Brazilian e-commerce is not only good for merchants in that country, but merchants around the world as well. The cross-border transaction numbers are especially good for merchants who offer their products internationally. As the presence of mobile devices and easy online payment services increase in Brazil, more of the 200 million consumers there will turn to e-commerce sites to spend their money. Now may be a good time for international merchants to extend their product availability to South America.
Sell Internationally with ECS WorldECS-World offers international merchant accounts for those merchants looking to sell products globally. With features like multi-currency processing and multi-brand credit card compatibility, our merchant accounts are the perfect solution to selling your products in growing markets around the world. Additionally, our wide range of acquiring bank partners will allow us to find the perfect international processing solution for you, while offering some of the highest approval rates in the industry. Whether you’re looking for your first merchant account, or an additional one to reach international markets, ECS-World can help. Contact one of our merchant account managers today to start your application.
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