This report explores the pandemic’s impact on total retail, ecommerce, and mcommerce sales in Latin America, with breakouts for Argentina, Brazil, and Mexico. It also examines key drivers fueling regional market movements in 2021 and beyond.

Mcommerce. This year, mcommerce will grow slightly faster than overall ecommerce. Its share of ecommerce sales will surpass 40% for the first time in 2022. Mcommerce sales increased significantly in 2020, but its share of total ecommerce sales remained flat through 2020 and 2021. We expect mcommerce sales to continue outpacing overall ecommerce and make up more than 45% of ecommerce sales by 2026.

Mcommerce will represent nearly half of holiday ecommerce sales. We forecast mcommerce sales to hit $116.98 billion, or 49.6% of overall ecommerce sales. That also means we are likely one year away from mcommerce accounting for the majority of holiday ecommerce. Cyber Five 2022 Forecast. The outlook for the Cyber Five period will further decline in 2022 as we expect recent trends to hold.

Momentum is still marginally favorable to mcommerce, but consumer behavior is settling in, and change will come more incrementally going forward. Mcommerce growth rates have decelerated to near parity with overall ecommerce growth rates. By next year, mcommerce will claim about two-thirds of worldwide ecommerce spending, and it may settle in at not too much higher than that over the long term.

After missing out on a big rebound in 2021, Southeast Asia’s total retail and ecommerce sales are both set to boom this year. Indonesia—set for a standout year—will shape the region’s metrics and account for nearly 65% of Southeast Asia’s ecommerce sales.