While the retail industry is constantly evolving with new trends and consumer behaviour to adapt to, internet retailing, heavily vulnerable to technology´s force, changes at a dynamic pace by comparison. Marketplace growth, increasing usage of mobile devices, growing internet penetration, multichannel strategies and a new millennial consumer base all strengthen internet retailing in Brazil and push e-commerce to a new frontier.
Introduced in the late 2000s as a means to boost revenue, Black Friday has rapidly grown to become the main retailing date in Brazil, with consumers more than embracing the adopted celebration date. Local consumers look forward to purchasing high-value products such as electronics and appliances at a discount, buying for themselves and anticipating a significant other´s Christmas gifts.
With consumers growing more demanding regarding fast delivery, and such deliveries being the main source of customer complaints, logistics poses a threat to e-commerce growth. Brazil is a country of continental scale, maintained by an underdeveloped transportation system heavily reliant on road transportation.
Towards the end of the review period, B2W launched its own digital wallet, Ame Digital, through which consumers can purchase products from the company´s range, are offered special discounts and can accumulate loyalty points, which are all set to boost growth. Services that improve the user or seller experience offer potential for both the marketplace, as an increase in service level brings in new revenues, and boost the user experience in terms of payment, generating consumer engagement as Brazilians shift towards mobile wage payments through digital wallets.
A marketplace is the product of retailers moving from first party sales to third party, as well as the result of consumer preferences shifting towards e-commerce. It is a technology that will shake up the industry, offering a place where retailers that cannot operate efficiently online due to limited scale or technological capabilities, are able to operate in e-commerce through third party platforms.
The year 2018 was marked by major innovations that took place in the e-commerce industry. MercadoLibre launched its asset management feature in Argentina and according to its investor relations department, is expected to roll out this feature in Brazil as well.
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