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Download this e-book for a regional overview of the retailing market in Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Mexico, Peru, United States, Uruguay and Venezuela.
Internet retailing is one of the most valuable and fastest growing channels globally with a 12% forecast compound annual growth rate (CAGR) from 2014-2019. During the same period, Latin American internet retailing is expected to see a 10.8% CAGR and the US 9.6% growth, respectively. To keep up with their fast-growing competition, in-store retailers have added mobile apps for use in store to enhance consumers shopping experiences and supported higher taxes on internet purchases.
Convenience stores are also growing in popularity despite experiencing different levels of growth in North and South America markets. For example, Super 24, the only convenience store chain in Guatemala, has tripled its stores since 2010 as many consumers are shopping at convenience stores in place of small independent grocers. Argentine cities are also turning to easier options to shop on the go and Colombians prefer the appealing prices and proximity of convenience stores.
“2014 saw a lot of opportunities for growth and change within the retail category,” said Latin America Research Manager, Sean Kreidler. “In the coming years, both North and South American regions will remain a lucrative but challenging retail environment. Sales will continue to grow due to innovation and the opportunity to utilize both online and in-store shopping experiences. However, companies need to be flexible to the needs of consumers, while differentiating themselves from their competitors to be successful in the industry.”