Last year, retail ecommerce sales growth in Latin America failed to outpace inflation for the first time since we began tracking the region in 2009. Despite high inflation and sluggish economic activity, we expect digital sales growth this year in several key markets we forecast.

Key Question: What’s the outlook for retail and ecommerce sales in Latin America this year and beyond, and how will macroeconomic conditions affect consumer spending at the country level?

KEY STAT: Retail ecommerce sales growth in Latin America will begin to normalize after 2020’s high double-digit gains. Sales will grow by 14.3% this year, led by a strong performance in Argentina, Mexico, and Colombia.