The e-commerce market in Brazil swelled by 4 million new users during the COVID-19 pandemic. The market is valued at 36 billion dollars.
Brazil has 70% internet penetration. It has 39 million e-shoppers, who spend an average of 96 dollars each online.
In Brazil cash payments play a big role for daily transactions. The Boleto system (Bancário, Rapido & PIX) is most popular, covering 25% of the whole cash payment market. After just six months of operation, in 2021 PIX already had 75m users throughout the country.
Access to banking
There are 48 million people in Brazil who do not use banking services. This group moves around 204 billion dollars of the country’s economy per year. The boleto bancário is one of the population’s preferred payment methods.