There is a shift in E-commerce market in Brazil after 2013 with the government intervention to regularize the E-commerce segment which gained popularity in recent years. The government of Brazil approved Decree n0 7962, this clause regulates the purchase of goods and services through online medium.
E-commerce websites are officially regulated by the following Brazilian institution:
- State Board of Trade
- Federal Revenue Service
- State Treasury Office
- City Council
With the growing popularity and awareness of internet benefits more people are opting for smartphones which allow internet access. The rising internet penetration has given birth to online banking which has created space for online retail market. Brazil has the fourth largest internet market globally with over 130 million internet users whereas the total population of the country recorded to 205 million, as of 2015. In cross border e-commerce market Brazil stands on third place worldwide whereas strongest in the Latin American region.
In Brazil, there is almost equivalent contribution from the male and female online shoppers which showcase impact of lifestyle where women is also working and has less time to travel for shopping also this trend indicate popularity of online shopping in Brazil. In E-commerce segment Fashion and accessories accounted for almost 50% of the total purchases made online by the females in Brazil in 2015.
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