This interest in promoting the digital offer, added to the possibility of remote contracting of basic financial products such as current accounts or digital wallets, has been greatly favored by the reduction of costs for the use of the Internet, causing a catalytic effect in the adoption of electronic commerce in Latin America, also driven by the mobility restrictions generated by the pandemic.
A unicorn geography
Every day we hear more frequently news regarding the success of Latin American companies that have managed to identify and capitalize on different value solutions in the market, distinguishing themselves from the competition for their innovation, flexibility, growth potential, their orientation towards the consumer and for the use of technological tools to create unique business models.
Now, can we consider Latin America as a “unicorn” geography?
This term, which was originally created by Aileen Lee in 2013, has become popular due to the creation and development of innovative and disruptive companies that, using new technologies and social networks to boost their growth, achieve a market valuation of at least 1,000 million dollars.
If we consider the characteristics that distinguish these companies, without a doubt, we can assure that the region has similar characteristics that substantially differentiate it from other regions in the world.
Firstly, we must highlight the tremendous growth potential in Latin America, since there are around 200 million people yet to access banking services, according to a study by Mastercard and Americas Market Intelligence in 2020. Secondly, because internet penetration has improved and today there are more people who have connectivity, already adding 543 million users in 2021, according to Statista. Something to consider is the availability of broadband, still pending.
Finally, the use of social networks and the diversification of payment methods have made it possible to reach millions of people by offering products and services that are increasingly closer to the particular interests of each one of them and ending with the limitation of the exclusive use of bank cards. to make purchases online.
It is then that Latin America has a “unicorn” or even “super unicorn” geostrategic value, since the region represents a unique opportunity for the development and growth of ventures dedicated to the development of digital commerce.
E-commerce as a catalyst for progress
The accelerated adoption of electronic commerce has significantly modified the way in which we acquire goods and services, generating a domino effect in the dynamics of development for the people and economies of the region, since new opportunities for progress have been opened with access to a whole universe of information, knowledge and education.
–
