eCommerce market in Brazil

Brazil is the 12th largest market for eCommerce with a predicted revenue of US$40,635.8 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$57,098.5 million by 2028. With an expected increase of 9.8% in 2024, the Brazilian eCommerce market contributed to the worldwide growth rate of 10.1% 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 31.9% of the Brazilian eCommerce revenue. It is followed by Fashion with 27.0%, Hobby & Leisure with 14.1%, Furniture & Homeware with 10.9%, Care Products with 6.1%, DIY with 5.4%, and Grocery with the remaining 4.6%.

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 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 VISA with a penetration of 98.0%, American Express with a share of 87.1%, and Elo with a share of 84.8% the payment type Cards is the most common used by online retailers in in the Brazilian eCommerce market in 2023. With a share 72.4% Boleto Bancario is the most common used payment method offered to the clients of type Cash on delivery.

With 92.6% 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 10.3% of online retailers. Other shipping service providers, including Total Express, Motoboy, and FedEx, are employed by a significantly smaller proportion of online retailers.

Although VTEX holds a commanding lead with 24.7% 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, Shopify, and edrone, which collectively hold a significant share of the market.