Recent technological and logistical innovations in Latin America have given rise to myriad growth opportunities for retailers to engage with consumers across digital channels and geographic areas. One critical aspect that is helping expand ecommerce is the rising trust consumers have in making transactions online.
Consumers in Latin America have resisted ecommerce for years, doubting the security of their personal data and payment information and a lack of trust in the sellers’ website or platform. Retailers responded by improving their security measures.
"We’ve seen that many of the region’s leading ecommerce players are still working to break down barriers and facilitate access to a population that does not have the traditional means to [pay for] online purchases,” said Marcos Guijarro, managing director of Mexico at performance media agency iProspect, who was interviewed for our recent report, "Latin America Ecommerce 2019: Mobile to Capture More than One-Third of the Regional Market." “This translates into facilitating offline payments for online purchases and providing rechargeable payment methods for those people who do not have a bank account or want to use their traditional payment methods for fear of possible fraud.”
These efforts have been effective, according to June 2018 data from The Cocktail Analysis in collaboration with Analistas Financieros Internacionales (Afi). On average, more than six out of 10 digital buyers felt safe making digital purchases. The most- and least-comfortable digital buyers were in Argentina (78.7%) and Peru (56.4%), respectively.