eCommerce market in Brazil

Brazil is the 16th largest market for eCommerce with a predicted revenue of US$40,605.1 million by 2024, placing it ahead of Italy. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 8.9%, resulting in a projected market volume of US$57,058.7 million by 2028. With an expected increase of 9.8% in 2024, the Brazilian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Brazil, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Brazilian eCommerce market. Electronics is the largest market and accounts for 36.0% of the Brazilian eCommerce revenue. It is followed by Fashion with 25.1%, Hobby & Leisure with 13.2%, Furniture & Homeware with 10.3%, Care Products with 6.1%, DIY with 4.9%, and Grocery with the remaining 4.4%.

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 Brazilian retail market, the online share is 10.3% and will increase by an average of 12.6% to 16.6% by 2028.

The biggest player in the Brazilian eCommerce market is magazineluiza.com.br. The store had a revenue of US$3,485.1 million in 2023. Store rankings include every store that generates revenue in Brazil. 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 Brazil was considered.

With 98.2% Mastercard the most commonly offered payment method of all online stores in the Brazilian eCommerce market in 2023. Like Mastercard the other most common offered payment methods are all Cards with VISA covering 98.0%, American Express covering 87.0%,Elo covering 84.7%, and Diners Club covering 72.3% of all online stores in the Brazilian eCommerce market.

With 92.4% of all online retailers using Correios it is the dominating shipping service provider in the Brazilian eCommerce market in 2023. jadlog follows at a distant second, utilized by 10.4% of online retailers. Other shipping service providers, including Motoboy, Total Express, and Loggi, are employed by a significantly smaller proportion of online retailers.

Although VTEX holds a commanding lead with 26.8% of online stores using the shop software solution, the Brazilian eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including Magento, Tray Commerce, EZCommerce CORE, and Shopify, which collectively hold a significant share of the market.