Mobile users are on the rise in Latin America, and it's having a big impact on retail customer trends. According to a GSMA report, half of the continent's population has signed up for mobile services, including 80 percent of developed populations. Brazil, a market leader among Latin American countries, has experienced astounding surge in ecommerce — with an anticipated growth rate of 23.03 percent through 2017, Canadean found in its 2013 Consumer Attitudes and Online Retail Dynamics in Brazil report. Because Brazil's online sales have continued to climb despite a slowing economy in general, Forrester anticipates a more ecommerce even in Latin American countries with less developed markets.

Despite the diversity of the region, analysts expect to see a few general trends:

• Mobile users will continue to increase, which will lead to more ecommerce. GSMA classified most Latin American countries as "fast growers" for mobile development. While in Brazil the mobile demographic is dominated by the middle class, retailers in Mexico and Argentina need to market to lower-middle class as well.
• Social networks are fueling online sales. Forrester reported that Latin Americans are highly engaged with social media, particularly with branding through these networks and branded apps. Consequently, retail marketing should embrace social platforms.
• Applications and interconnectivity are on the horizon. The next phase in mobile development includes more applications and greater connectivity between devices, according to GSMA. Businesses may see these advancements in retail technology as well.

This entry was posted by Retail Pro on Thursday, January 9th, 2014 at 11:41 am .