Millicom’s e-commerce business team is taking new products and services to millions of new customers and to different markets that fall outside our mobile telecommunications footprint. We are more convinced than ever about the potential for online services in Latin America to grow strongly and leapfrog traditional retail.
Ecuador, a country of 15 million, has a more nascent e-commerce industry relative to its neighbours. Ecuador’s internet usage rate is only 35 per cent, yet roughly half of these users have engaged in online shopping, indicating a growing appetite for e-commerce. In addition, mobile penetration is over 100 per cent, with smartphone users growing to 840,000 in 2012.
In 2011, e-commerce in Ecuador totaled 300 million US dollars, with most payments going to international retailers in tourism, electronics, and clothing.
Given the small domestic market size, e-commerce in Ecuador is largely flourishing in the export market space, particularly with business-to-business sales.
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