09 de Junho de 2021 16:03 GMT
The Brazilian online market is the fastest-growing eCommerce market in Latin America and a great option for any merchant looking to expand into a new market. We prepared some tips and facts that any brand should keep in mind and will need to know if it’s looking to increase sales reach by expanding to Brazil.
Companies around the world are realizing that expanding their business to Brazil can be advantageous and less bureaucratic than expected. And here are some reasons, Brazil has the 9th largest global economy and a growth of over 73% in its e-commerce in 2020, according to MCC-ENET.
The country also moved around R$41.92billion (approx. $8.38 billion US dollar) until August 2020 and the number of transactions growth 65.7% in the same period, going from R$63.4 billion(approx. $12.68 billion US dollar) to R$105.6 billion (approx. $21.12 billion US dollar) in the first months of 2020.
And it happened because the Brazilian buying behaviour has changed in the last years. Brazilians are more likely to make purchases online, in eCommerce and Apps, especially through mobiles. According to Neotrust, the first quarter of 2021 saw a 57.4% increase in eCommerce sales compared to the same period in 2020.
The growth potential of numbers demonstrates the excellent opportunity for companies around the world to increase and expand their business by investing in the Brazilian growing market. Also, the confidence Brazilian customers have created in online and mobile purchases collaborate so that intelligent technology solutions ensure a smart and safer online experience.
The facility that tech solutions carry can be coupled with different business models to make them more efficient, less costly and able to expand their geographic reach from security systems that are effective in their purposes.
One of the first questions that arise when global executives think about expanding to an emerging country, for example, involves data security and financial transactions. Fortunately, anti-fraud systems simplify this step and ensure the veracity of local sales, protecting the seller and reducing transactional risks.
Also, with the help of auto-translate chat tools - such as the one Preme Pay offers - global companies can keep their employees on a local basis, speaking the local language and being able to communicate and ensure excellent customer service over the world, regardless of the language they - customers or agents - speak.
With very positive indicators to motivate expansion into Brazil, the key to the success of this new step towards globalization of services or products lies in offering local payment methods that consumers know, trust and prefer.
Brazil, as well as a good part of the Latin countries, has its peculiarities regarding its payment methods, as is the case of the boleto (voucher), PIX and the instalment payment process even for values considered low. Learn more about our payment methods here.
The keywords to guide your business to success through payment options should be variety and reach.
Brazil has about 40 payment methods available currently, and although some are more popular than others, it’s important to make the checkout and payment process, not a barrier to making the purchase. Offer a guided experience, meeting the needs that your Brazilian customer needs will help in your sales conversion process.
All in all, Brazil has a rapidly evolving market with significant opportunities for success in a huge range of sectors, including services, products and materials.
Preme Pay is an international fintech company that provides payment gateway solutions, with a team specialized in the Brazilian market and vast experience in building solutions that guarantee an excellent operational flow and a smart user journey, ensuring a great experience.