After Asia-Pacific, the Middle East, and Africa, Latin America stands out as the region with the highest share of online retail sales attributed to mobile commerce. In 2022, nearly six out of ten e-retail purchases in this region were from mobile devices. Latin America demonstrates significant potential, as evidenced by its position as the fastest-growing region for mobile commerce app sessions that year. Forecasts suggest that mobile shopping will continue to gain importance in the coming years, predicting an expansion of nearly double the market size in several Latin American countries by 2026.
An easy fit in a mobile-driven environment
The rapid surge of connected mobile users over the past years has brought approximately 710 million mobile broadband subscriptions in Latin America in 2022, a figure expected to rise even further, with another 80 million subscriptions to be added by 2028. Alongside this boom have been significant improvements in network coverage and capacity across the region, with the deployment and expansion of high-speed networks.More than a mere change in connectivity, this development brings major advantages for Latin America's e-commerce. Greater accessibility to mobile broadband has opened new opportunities for online businesses, enabling them to reach a larger consumer base. In addition, the expansion of 5G mobile connections directly contributes to the speed of online transactions, improving the user experience and facilitating the widespread adoption of mobile commerce.
Integrating new channels and technologies
With the increasing prevalence of smartphone adoption across consumer activities, online retailers have had to adapt their sales channels to be more mobile-friendly. Beyond traditional websites and web applications, social networks have proven to be influential channels, particularly due to their frequent utilization on mobile devices. As a result, the integration of mobile devices with social media has played a pivotal role in democratizing social commerce throughout Latin America, enabling users to effortlessly discover and buy products directly through their preferred social platforms.Moreover, technological advancements, such as augmented reality (AR) and virtual reality (VR), are increasingly being integrated into mobile commerce. The primary goal is to enhance the interactivity of the shopping experience and bridge the divide between virtual and in-person purchases. This evolution facilitates try-ons, interactive product demonstrations, and other immersive features, ultimately elevating the overall shopping experience.
