Argentina has the fourth highest contribution to online sales regionally in Latin America (after Brazil, Mexico, and Colombia), equivalent to 6% of the total turnover, according to Americas Market Intelligence’s own data. However, it is a country with certain obstacles—and, therefore, ample opportunity—in the development of its electronic commerce.
According to AMI:
- Argentina’s annual spending per capita is US$384. In fact, it is higher than Argentina in countries like Panama, Costa Rica, Uruguay, and Peru.
- On average, 7% of each Argentine’s personal spending is on electronic commerce. This is well below personal e-commerce spending in countries like Peru (13%), Colombia (10%), Brazil (17%), and Panama (10%).
- Argentina’s inflationary crisis is well known. This has made assets such as cryptocurrencies more attractive to the population. In a survey AMI conducted in April 2022, crypto adoption in Argentina was recorded at 51%. Crypto adoption represents an enormous opportunity for alternative payment methods in the country, particularly in e-commerce.
- Domestic e-commerce still accounts for 97% of e-commerce turnover in Argentina. Cross-border e-commerce is lagging behind, at just 3%. Nevertheless, at AMI we forecast a 35% growth in cross-border commerce in 2022.
To better understand the e-commerce market in Argentina, our payments team has put together the following infographic summary. It focuses on the most commonly used payment methods when buying products and services online in Argentina. For more information, you can also check our article: Argentina E-commerce Market Data.
Moving Beyond the Data
Contact us if you are interested in a more in-depth market study on e-commerce payments in Argentina, or other payment-related topics there or elsewhere in Latin America. Our personalized studies can help your company with strategic decision making, and to identify new opportunities in the market.