Keys to Understanding Argentina’s E-Commerce Market

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Argentina E-Commerce Market Data - Infographic Report by PCMI, 2024

Latest update: January 2024

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In this article, we offer a brief overview of the current e-commerce landscape in Argentina. This snapshot includes a few of the latest e-commerce data in Argentina from our Data Library for Latin America, and is complemented with insights meticulously curated from external resources.

You can also read this piece in the form of an infographic report, available to download below. You can also check out our other country reports of LatAm by accessing our gallery.

PCMI E-commerce-Data Portrait in Argentina in 2024

Current State of E-commerce in Argentina

According to OECD, Argentina’s GDP is expected to contract by 1.3% during 2024—although a modest recovery of 1.9% is projected for 2025.

Yet, e-commerce continues to boom. According to our data, 8 out of 10 adults in Argentina are already active participants in online shopping. In 2023, the e-commerce volume reached an impressive US$28 billion, being the retail the vertical with the highest share of e-commerce volume (61%).

E-commerce is gradually integrating into the retail landscape. According to data from CACE (Argentine Chamber of Commerce), 15% of retail purchases are linked to online transactions.

Looking ahead, PCMI predicts robust e-commerce growth of 22% between 2023 and 2026, reaching an estimated volume of US$51 billion.

Profiling the Argentine Online Buyer

Profiling the Argentine Online Buyer

While this overall picture is important, focusing on the consumer behavior delivers a deeper understanding of the market drivers. The regular online buyer falls within the 35-44 age range, highlighting a broad demographic engagement in e-commerce activities.

In Argentina, 2 out of 5 online consumers made purchases in the past month, with an average ticket for online purchases set at US$69, according to CACE. However, PCMI indicated an annual e-commerce spending of US$607 in Argentina in 2023, which is notably lower compared to other e-commerce developed markets such as Brazil, Colombia, or Chile.

Argentina E-Commerce Payment Methods and Devices

Argentina E-Commerce Payment Methods and Devices

According to PCMI’s E-commerce Data Library, the primary payment methods for e-commerce in Argentina, by share of volume, are:

  1. Domestic only credit card — 34%
  2. Digital wallet — 23%
  3. Internationally-enabled credit card — 19%
  4. Debit card — 15%
  5. Cash vouchers — 2%
  6. Bank transfers — 2%
  7. Other* — 2%
  8. Buy Now Pay Later — 1%

*Includes gift cards, pay-on-delivery, and other miscellaneous payment methods.

It is also important to track the device:

  • 69% of e-commerce volume in Argentina comes from purchases on mobile devices
  • 31% of e-commerce volume in Argentina comes from purchases on desktop
Top-Selling Categories and Leading Online Stores in Argentina

Top-Selling Categories and Leading Online Stores in Argentina

Based on number of units sold in 2023, these are the best-selling online products in Argentina, data from CACE:

  1. Food and beverages
  2. Home, furniture and garden
  3. Tools and construction
  4. Personal care products
  5. White goods

As for top online stores in Argentina, Mercado Libre emerges as the leading one, followed by Adidas, Fravega, Carrefour and Musimundo. These top online stores are based on net sales through the digital channel in 2022, according to ECDB data.

Key Insights Ecommerce into Argentine E-commerce Market

Key Insights into the Argentine E-commerce Market

Lastly, there are some key insights about e-commerce in Argentina according to our data:

Argentina is a leader in cryptocurrency adoption in LatAm. According to the report “Crypto Usage in Latin America” by Americas Market Intelligence (2023), Argentina has the potential for a penetration of cryptocurrencies at 23%, the highest in Latin America based on surveys.

In Argentina, 97% of e-commerce volume comes from domestic stores. However, the cross-border market is projected to grow by 30% in 2024, slightly more than the expected growth of domestic e-commerce (24%).

Finally, e-commerce in Argentina plays a significant role in the country’s economy, contributing 4% to its GDP.

Next Step:

The PCMI E-Commerce Data Library

The data provided in this report is part of PCMI’s Latin America E-commerce Data Library. The Library covers not only Argentina but also 14 other countries in Latin America, featuring e-commerce market data such as:

  • Historical volume of Argentina’s e-commerce market for 2022, 2021 and further back

  • Projections of Argentina’s e-commerce market volume for 2023-2026

  • Breakdowns by merchant vertical for e-commerce in Argentina: retail, travel, ride-hailing, digital goods and services like streaming

  • Data on both cross-border and domestic e-commerce purchases in Argentina for 2022 and projections for 2023 and beyond

  • Breakdowns and projections of payment methods used in Argentina e-commerce (international/domestic credit cards, Buy Now Pay Later, digital wallets, and others)

Other key advantages make the PCMI E-commerce Data Library for Latin America a uniquely powerful tool for companies that seek a fuller understanding of e-commerce in the region:

  • It’s customizable to client needs: you can obtain additional data you need for your company’s specific business concerns, beyond what the Library offers

  • It’s budget-friendly: while detailed reports are available for 15 Latin American countries, you can just buy data on just 1 or save money by purchasing a country bundle

  • It includes personalized guidance: every purchase of the Library entitles you to a free 1-hour consultation about the data with one of PCMI’s industry experts

  • It offers unlimited sharing: there is no single-user license with the PCMI E-commerce Data Library for Latin America, so you can share it freely with your organization

Keep up to date with our e-commerce, payments and crypto insights:

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PCMI
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Payments and Commerce Market Intelligence (PCMI) is a strategy consultancy specializing in the global payments industry.

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