Business

E-commerce gains one virtual store per minute in Brazil

Turning to e-commerce was the the way found by many companies to mitigate the sudden drop in revenues

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  • In just over two months, 107,000 new establishments were created on e-commerce;
  • Before quarantine, the average number of stores opened on e-commerce was 10,000 stores per month.

Since the beginning of the coronavirus pandemic, Brazil has been opening more than one virtual store per minute. In just over two months, 107,000 new establishments were created on e-commerce for different products, such as food, beverages, clothes, shoes and cleaning products, according to a survey carried out by the Brazilian Association of Electronic Commerce (Abcomm), reported by O Estado de S. Paulo.

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Turning to e-commerce was the the way found by many companies to mitigate the sudden drop in revenues due to the social distancing measures as shutting down physical stores, reported the survey, that took place between March 23 and May 31.

Before quarantine, the average number of stores opened on e-commerce was 10,000 stores per month. The sectors that led the ranking of new stores online were fashion, food and services.

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Social distancing not only accelerated the opening of stores on the internet, but also brought new consumers to e-commerce, according to Abcomm. The forecast was to gain 3 million customers for online sales by the end of this year. Instead, during isolation measures in Brazil, there were 2 million new consumers who had never made any transactions over the internet before.