According to the latest edition of Webshoppers, more than 70% of consumers plan to continue purchasing products overseas
For many Brazilians, buying from foreign websites was a way of saving money in 2021, even with the dollar flying high. According to the Webshoppers survey by NielsenIQ|Ebit and Bexs Pay, 68% of online consumers (87.7 million) purchased imported products last year and 71% plan to continue doing so. For more than half of consumers, the biggest attraction is lower prices.
Cross-border purchases were worth an estimated R$ 36.2 billion in 2021, up 60% compared with 2020 and 32% increase in e-commerce generally. This segment now represents 17% of overall revenues; some of this growth can be attributed to foreign e-commerce websites better integrating local payment methods.
Latest Fintech News: LinkSquares Launches Native E-signature Solution for Comprehensive Contract Management
“This has made it easier for people to buy goods overseas. Purchases that were previously restricted to just a small proportion of the population with access to an international credit card are now available to a larger group of people who can use domestic credit cards or even Pix, the Brazilian instant payment system”, said Luiz Henrique Didier Jr, CEO of Bexs Pay.
Consumers reported the most popular categories last year were Fashion (38%), Electronics (36%) and Home Decoration (24%). Faster deliveries have been one of the aspects driving Brazilian interest in international purchases. “This shows Brazilian consumer appetite for overseas products, despite often facing barriers created by technical issues”, said Marcelo Orsanai, Head of E-commerce at NielsenIQ|Ebit.
Latest Fintech News: White Oak Provides $75 Million Term Loan Financing to North Atlantic Imports
Another interesting result has been the growth of platforms Brazilians have quickly started to adopt. In 2021, 56% of consumers purchased from Shopee and 21% from Shein, practically nonexistent in Brazil before last year.
About Bexs Pay
Bexs Pay is a pioneering cross-border digital payments provider connected to Bexs Banco’s financial services. Our API platform offers a unique combination of digital payment solutions for payin or payout, enabling online businesses to operate in Brazil.
Latest Fintech News: Peter Isern Joins the Insigneo Network to Form IM Wealth Management
[To share your insights with us, please write to sghosh@martechseries.com]
