Report: Cross-Border Retailers Nab Growing Piece of Brazilian E-Commerce
Feb. 12, 2015
Despite the challenges involved, Brazil has long been an attractive market for e-commerce businesses looking to expand internationally and results of a new survey highlight why. Total e-commerce in Brazil rose 24 percent last year, generating $13.3 billion and 40 percent of consumers in Brazil shop at sites based outside the country, according to the report from e-bits.
Brazilian consumers are resorting to foreign e-commerce sites mainly for lower prices and better product availability, the report said. And, while physical products were the most popular, digital content is gaining, according to Ralf Germer, CEO of PagBrasil, a Brazilian payments provider.
"Physical products shipped into Brazil have always played a predominant role in cross border e-commerce, but there are more and more digital goods and international service providers moving into Brazil with websites localized into Brazilian Portuguese," said Germer. "Payments from games already account for nine percent of all cross border payments."
Consumers in Brazil prefer to pay on international Websites using a credit card—they account for 57 percent of payments on international Websites. Boleto bancário, a popular way for Brazilians to pay on domestic sites, is gaining favor in cross-border transactions as well (23 percent) as an increasing number of savvy retailers offer it as a payment option.