Market Size of Argentina E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 20.69 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina E-commerce Market Analysis
Argentina's E-commerce Market is expected to grow at a CAGR of 20.69 % from 2022 to 2027. Carrefour is the largest player in the Argentine e-commerce Market. In 2021, the store made $286 million in revenue. It is followed by adidas.com.ar, which has a revenue of US$250 million, and Walmart.com.ar, which has a revenue of US$193 million. The top three stores account for 10% of all online revenue in Argentina.
- In the next four years, the Argentine market is expected to be one of the fastest-growing. Because of the increased use of mobile devices and the consumer characteristics of this country, companies looking to invest in Latin America find Argentina to be a promising and effective scenario for competing in global e-commerce.
- MercadoLibre, a Buenos Aires-based online marketplace, is also boosting e-commerce in Argentina. According to eMarketer, MercadoLibre is to Latin America what "Amazon is to the United States" or "Alibaba is to China." The platform has over 267 million registered users, the majority of whom are from Latin America. In 2019, MercadoLibre generated nearly $2.3 billion in net revenue, a 60% increase over the previous year. Argentina contributed $456 million.
- There are many strong reasons to target Argentina with e-commerce; the market is still progressing and not without barriers. It has an unstable economy and a high inflation rate, which has reduced Argentine consumers' purchasing power.
- Argentina faces an uncertain situation between 2020 and 2021 due to the COVID-19-driven fintech boom. The country has had some success with digital banking, such as the digital wallet MODO or the Estrategia Nacional de Inclusión Financiera (ENIF, as the Spanish-language acronym suggests).
- 90% of online Argentine adults (18.3 million people) have made at least one purchase. Argentina's e-commerce increased by 124% in 2020 after rising by 76% in 2019, with growth likely to continue in 2021 due to the extended quarantine imposed for the COVID-19 pandemic.
