eCommerce market in Argentina

Argentina is the 45th largest market for eCommerce with a predicted revenue of US$6,202.6 million by 2024, placing it ahead of Colombia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 0.5%, resulting in a projected market volume of US$6,339.5 million by 2028. With an expected increase of 0.7% in 2024, the Argentinian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Argentina, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Argentinian eCommerce market. Electronics is the largest market and accounts for 26.2% of the Argentinian eCommerce revenue. It is followed by Fashion with 22.9%, Hobby & Leisure with 18.9%, Furniture & Homeware with 11.1%, Care Products with 7.7%, DIY with 7.7%, and Grocery with the remaining 5.6%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Argentinian retail market, the online share is 7.5% and will increase by an average of 5.5% to 9.3% by 2028.

The biggest player in the Argentinian eCommerce market is mercadolibre.com.ar. The store had a revenue of US$415.7 million in 2023. Store rankings include every store that generates revenue in Argentina. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Argentina was considered.

With 95.3% VISA the most commonly offered payment method of all online stores in the Argentinian eCommerce market in 2023. Like VISA Mastercard with a penetration of 94.5%, American Express with a share of 76.4%, and Cabal with a share of 59.1% the payment type Cards is the most common used by online retailers in in the Argentinian eCommerce market in 2023. With a share 88.2% unknown is the most common used payment method offered to the clients of type Invoice.

Despite Andreani's dominant position with 53.4% of online stores opting for its services, the Argentinian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including OCA, Correo Argentino, Own delivery service, and Mercado Envíos, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Although VTEX holds a commanding lead with 19.3% of online stores using the shop software solution, the Argentinian eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including Magento, Tienda Nube, WooCommerce, and Shopify, which collectively hold a significant share of the market.