Industrial journalist TR Cutler recently reported post-pandemic manufacturers’ eCommerce surge in Africa and Latin America in the July issue of Manufacturing Outlook magazine, part of Jacket Media Co. Cutler noted emerging markets in Africa and fast-growing markets in Latin America have posted immense eCommerce growth in the post-pandemic period. Consumers in these markets are actively participating in global eCommerce and increasingly shop cross-border. To support this increase in activity new payment infrastructures that reflect native consumers’ habits and preferences are emerging in these regions.
According to Cutler, “Despite the inflationary and supply chain concerns, 2022 has seen a strong rebound post-pandemic online shopping as the global eCommerce market amounted to 13 trillion dollars in value that year. This online sales increase from emerging markets will contribute to 20% of all retail sales in 2022. Local payment methods (LPMs) played a crucial role in supporting the growth of this economic activity by setting a native and stable payment infrastructure to support the demand for online shopping both locally and cross-border.”
Emerging markets in Latin America will continue to grow and take a more significant share of the global eCommerce market. Merchants entering the aforementioned markets will have to solve unique challenges by offering native LPMs preferred by local consumers.
Africa is shaping up to be the next hotbed for internet-based businesses. As smartphones and the internet become more prevalent in African countries, the population has started to shift towards online shopping.
Jacket Media Co is the parent company of Manufacturing Outlook magazine. The publication highlights current manufacturing trends.
Thomas R. Cutler authors more than 1000 feature articles annually regarding the manufacturing and industrial sectors, with emphasis on robotics, lean manufacturing, technology breakthroughs, and media coverage of the sector.
Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc. , celebrating its nearly […]
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