Chile Stands Tall As Latin America’s Fastest Growing eCommerce Market

Chile is rapidly becoming an eCommerce powerhouse due to its accelerated infrastructure development partnered with high levels of Internet penetration. The Chilean eCommerce market currently has more than US$3.7B and is expected to grow at 35% this year, reaching at least US$5B in revenue by the end of 2018, Nathan Lustig site wrote.

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Chile’s fast-growing eCommerce industry is a result of international platforms’ drastically reduced delivery times, making eCommerce much more accessible to several consumers. Correos de Chile partnered with AliExpress in 2017 to work on reducing delivery times to a window of at least 16 to 38 days, which is 20 days shorter than is previous 60 day delivery time.

Chile eCommerce business is on the rise, DHL says

DHL eCommerce’s first attempt to enter the South American market is currently outperforming its expectations after a month of giving its Chilean retailers easier means to deliver packages to consumers which can help boost online shopping even more.

According to Reuters, Chile is one of South America’s most developed markets that have a high level of credit card use. Unfortunately, it’s package delivery industry has been concentrated on B2B transactions.

“More than 50 ‘small and medium’ shippers signed up in the first month and DHL was in talks with some of the larger players..“Our solution in Chile is very groundbreaking from what the competition is offering. The business is already booming because there is nothing like that out there,”  Paul Tessy, Chief Executive of DHL eCommerce Latin America and Canada

DHL is currently introducing consumer-focused conveniences such as an option for evening and weekend deliveries and an app that lets consumers see their delivery status in real time. Experts are expecting that eCommerce in the region will grow at least 14 percent yearly until 2020.

There has been a lot of talk over the years about the upcoming eCommerce boom in South America, what are your thoughts on the opportunity there? Head over to our Facebook Discussion Group or use the comments section below.