Wednesday , February 8 2023

Before 2022, e-commerce grew 83% in Argentina


Regional reference

The growth of mobile devices promotes the market for floating mobile markets over the next four years

The Argentine e-commerce market will increase 83% between 2018 and 2022 to achieve a value of US $ 19.2 million in Worldpay Inc, in the payment technology industry, according to the new global data from the global company.

In addition, it is among the markets with a rapid development experience in the country's mobile markets, as the annual rate of 26 percent is growing. The local market has 44.7 million consumers, 81% of which currently have Internet access.

In the 2018 International Payment Report, Worldpay indicates that the credit card uses the widest method 2018, with 26.7% of market transactions. Next, electronic portfolios (22 percent), bank transfers (14%), debit cards (10%) and cash transfers (8%).

However, there is a spacing between credit cards and electronic portfolios in terms of the online payments of Argentine consumers. They prefer consumers who pay fast credit cards and provide electronic wallets with convenience.

The anticipated electronic posters are expected to be the most popular online payment next year, Provision of 22% of the 2019 market, growing at the same rate. In this scenario, bank transfers, MercadoPago and Rapipago, the main methods of alternative payments are presented.

The Worldpay report also looked at the views of physical sales and the most popular method of payment was cash (43.9%) and credit (33%). The credit card is expected to be sold at the most popular point of sale in 2019, 37.7 points in the sales market (36.6% in cash).

Meanwhile, Electronic cards are growing at the outlets. Currently, the use of electronic wallets is estimated at 3.9 per cent of sales, and it is estimated that it grows at 51% of CAGR, 11.1% of purchases at sales points in 2022.

"Latin America is a dynamic market that allows for changes and payments. Retail sales, in general, and the growth of e-commerce, especially the regional economy exceeds a growth of 2%, shows the growth of Latin American e-commerce, the 2018 transaction value 61 With more than $ 1 million in projection, more than $ 20 million will be raised in 2018, "said Juan D & Antioquia, Latin America's global director at Worldpay.

"Argentina is a pioneer in electronic commerce in Latin America and continues to offer the most attractive options in the segment, which has a growing base of young and educated consumers on the Internet and shows the 16% growth rate of local e-commerce with the highest percentage of mobile users in the region," he concluded.

The WorldPay Report, which includes information on methods of payment in 36 countries, shows a complex and diverse image around the world. Alternative payment methods meet the needs of digital consumers, which are led by e-wallets and bank transfers. Although his long reign has ended, the payment is still a way to pay at the point of sale. This scenario opens the doors to companies to meet the consumer, offering the right combination of payment options.

An increase in e-commerce is expected to exceed $ 4.6 trillion worldwide by 2022. In this way, transactions are also changing: credit card and debit card alternatives take more than half of the volume of electronic commerce sales and sales of mobile phones must be exceeded in sales in 2023. In the survey, at least 140 online payment methods have been found today.

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