LATAM is keeping up the pace with the global growth of the eSports market, and Brazil is scooping audiences and investment. To enter the game and seize the business opportunity, companies must understand and evaluate the market before pressing “Play”.
Internet provided a fast track to globalization and trends spread faster worldwide. But it also allowed consumers to turn into Big Brothers. Constantly surveilled, brands must build a business based on trust, in a fast-growing online market like LATAM.
As LATAM investment is being strategically placed in communication services and technology, and e-commerce is an indisputable business opportunity, to have an overview of the consumers? web browsing preferences is relevant to reach them in a better way.
If you are interested in expanding into Latin America, it is essential to understand the alternative payment choices that can be provided in a region with such wide economic diversity, different currencies and different purchasing habits.
Since Millennials represent around 50% of global consumerism and the Generation Z are digital natives, it becomes evident that they’re too important to be ignored, and companies must figure out ways to reach them and encourage them to purchase.
One of the most important requirements for any e-commerce merchant today is to ensure that the checkout experience for online customers is simple, quick and safe. Strategically optimizing the checkout process is a priority, especially in Latin America.
Online merchants looking to enter different e-commerce markets around the world must ensure their business is equipped to cater to the country’s audience. Making the transaction process as easy as possible for customers can help optimize revenues online.
Comparing the e-commerce challenges from a couple of years ago until today, a lot has been done in order to match or exceed the customer expectations. But companies must be prepared to invest their marketing efforts for an ultimate user experience.
When analyzing Latin America from an e-commerce perspective, it is vital to have a clear statistical notion of the presence, speed and growth of the internet in the region. The growth of internet usage equates to reassurance for e-commerce merchants.
Although online sales in the LATAM market are expected to increase 19% in the next five years, consumer trust is still an issue that needs to be addressed. What can companies do to promote a healthier relationship with the public they are trying to reach?