In Latin America
In Latin America
Just one-third of Brazilians have an international credit card. That’s why the best way to reach 100% of consumers in Brazil is by using PrimeiroPay solutions. Besides offering cash payment methods and interest-free installments (a very popular option in Brazil), PrimeiroPay significantly increases credit card approval rates by working with local acquirers.
of the population pays using boleto every month.
of online consumers prefer paying in installments.
of Brazilians don’t use international credit cards.
An economic and political crisis has hit Brazil during the last few years. Because of rising unemployment and high inflation, Brazilian consumer consumption has greatly decreased. According to Brazil’s National Industry Confederation, a non-profit organization that represents Brazilian industry, 59 percent of Brazilians have experienced a loss in purchasing power, which is forcing consumers to adapt to a new economic situation.
Consequently, the slowing economy in Brazil has affected overall growth projections of online sales in Latin America. According to eMarketer, retail sales growth in Latin America slipped from 5.5 percent in 2014 to 5.0 percent in 2016.
On the other hand, it doesn’t mean that Brazilians have stopped buying completely. They are just more cautious. Before deciding to buy a product or a service, they are searching online for more information, comparing prices and features.
Despite the crisis, ecommerce sales remain robust in Brazil. In the first quarter of 2016, revenue from ecommerce reached R$9.75 billion. (US$3.14 billion. The real — R$ — is the Brazilian currency. As of this writing, one real converted at roughly .3 U.S. dollars.) This represented roughly 106 million products. The average ticket size increased 7 percent, according to E-bit, a Brazilian research firm.