Since last year we have seen how eCommerce has been growing both in Spain and on the international scene. In recent months, this growth process has had a special development within the Latin American market, and everything indicates that this trend will continue in the coming years.
Starting from this, SEMrush in collaboration with the Argentinian agency Punto Rojo on the state of eCommerce in Latin America. This study includes an approach to the various trends and markets that predominate in the subcontinent, with a special focus on Argentina, Chile, Colombia and Mexico.
Ecommerce Growth: Latin America 2021
This SEMrush study revolves around the 120 eCommerce with more traffic of the 4 countries that we mentioned. The data for this study was collected for 120 days, giving rise to a monthly average of their activities.
To give you an idea of its size, in total these online stores accumulate 1.4 billion visits per month, with an average duration of 9 minutes and 26 seconds. Likewise, the degree of interaction with the page shows that they manage to generate good internal traffic. In this way, each user browses around 4.53 pages, reaching up to 12 in specific cases.
Keys to eCommerce in Latin America
In order to understand the growth that this market has seen lately, it is necessary to understand how it works. That is, where the traffic that these companies present comes from and how the purchasing processes take place in these countries. About the first point, the study highlights direct traffic, with at least 50.3% of the total market traffic.
This implies a direct connection of brands, at least the largest ones, with their public, creating a culture of loyalty. Similarly 25% of visits belong to organic trafficthat achieved through search engine positioning, thus being one of the most viable options for small businesses, given the predominance of established brands.
Finally 9.6% of traffic comes from advertising. Regarding the flow of visits from . Facebook and YouTube dominate this specific sector, and in general, network traffic is equivalent to 2.7% of the total.
Now, one of the keys to the shopping experience in Latin American countries is building a brand. As we have been able to see in the figures given in the traffic study, users prefer to look for established brands when buying. Therefore It is important to create a branding, which can be supported by a good presence in social networks.
As the study explains “Whether for safety or loyalty to their favorite brands, or because they have a good shopping experience, the truth is that good brands with good eCommerce manage to retain customers and this is reflected in the profile of visits analyzed. The oldest or most famous brands showed direct visit volumes close to 57%.”
Mercado Libre is among the market leaders in the region
Similarly, SEMrush emphasizes the importance of maintaining a specific website for each country, compared to other strategies, such as betting on a common domain, with a .com extension for example. «The web traffic of sites with .mx, .co, .cl and .ar domains represents 74% of all visits analyzed. However, only 45% of the largest stores have a domain dedicated to their target country. In other words, of the 120 sites analyzed, only 54 have a domain dedicated to the country where they operate, while the rest use generic domains»explains the study.
One of those eCommerces that uses different websites for each country is Free market, a marketplace where businesses can offer their products, and that is the great reference of Latin American eCommerce. According to the SEMrush study, it should be taken into consideration as it remains among the leading eCommerces in several countries in the region.
This is mainly due to its adaptability to different cultures, which has guaranteed a large flow of visits and growth in recent years. In such a way we can appreciate it in the previous graph, where we see a comparison between the general eCommerce panorama and Mercado Libre in the different countries.
as we see Mercado Libre has a good position within the four countries analyzed. Similarly, to make a more elaborate evaluation of the traffic in these markets, SEMrush has used its growth quadrant tool. This is how the Top 10 eCommerces within each country have been determined, as we can see below.
Top 10 eCommerce in Argentina
As expected, being its parent company, the Argentine market is completely dominated by Mercado Libre. The rest of the eCommerces show much lower traffic than this marketplace. Only Amazon shows greater growth than Mercado Libre, and yet it remains far behind in terms of volume, leaving it as a trader. In the Argentine online panorama, they stand out and electrical appliances such as Garbarino, Musimundo or Fravega.
Top 10 eCommerce in Chile
Unlike Argentina, in this country the leadership is more distributed, with 5 outstanding eCommerces: Mercado Libre, Falabella, Sodimac, Paris and Ripley. These companies have a percentage growth in traffic, as well as a considerably high volume of visits.
On the other hand, Chileans show particular interest in more global marketplaces such as Amazon and Linio, with a large presence throughout Latin America.
Top 10 eCommerce in Colombia
According to Semrush’s growth quadrant, the Colombian market seems to show greater competitiveness among eCommerce. Many of the ones we find in this top have similar statistics on the volume and rate of traffic growth. However, there are two stores that stand out above the rest: Free market Y Home Center (dedicated to the sale of home products, decoration and electrical appliances).
Mercado Libre is listed as a widely established company, with the highest volume of market traffic in this country. For its part, HomeCenter shows a considerably high growth in its traffic, positioning itself as an agent of change in the Colombian digital ecosystem.
Top 10 eCommerce in Mexico
In Mexico, the market is led by Amazon and MercadoLibre, both showing extensive growth and volume of traffic. It should be noted that Mexico is the only Latin American country that has its own Amazon store, which highlights the importance of dedicated websites.
Although these two large companies lead the market, others like Microsoft and HomeDepot have a higher growth than them. Likewise, the Mexican market appears to be a fairly stable terrain with companies that have constant growth and volume of traffic.
Taking into account all these points discussed, This study provides a solid basis for more exhaustive analyzes of the Latin American online market.. Serving in the same way to get an idea of the necessary tools in case you want to internationalize towards these markets. That said, and considering that it’s available for free download, this is one study you can’t miss.
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