Latin America and the Caribbean is presently the fastest growing e-commerce market in the world (+37% in 2020), with still plenty of room to expand. E-commerce accelerators can help drive this expansion within a sustainable framework.
It has been more than ten years since we first read about the base of the pyramid (BOP) and the large and virtually untapped market represented by this socio-economic segment. People at the BOP in Latin America and the Caribbean live on less than $10 a day, but they have benefited from the region’s economic growth between 2000 and 2010 and their incomes have been growing ever since. Latin America’s BOP now encompasses 406 million people and represents a market of $760 billion. A market segment that awaits for innovative companies.
Much has been said about the millennials, those born between 1980 and 2000, accounting for approximately 80 million people in the United States, and what they represent for the future of our society. For businesses, for example, it is crucial to understand this new generation, both as consumers and employees, otherwise companies run the risk of becoming irrelevant and antiquated. A recent Deloitte Survey shows that companies will need to change the way they do business in order to accommodate this new generation. Millennials do not begrudge businesses making a profit, but they also believe that businesses should have a purpose: being a catalyst in making a lasting, positive impact on society.