Thanks to economic growth, governmental reform and a growing middle class, dozens of iconic fashion retailers - and other well-known brands in other industries - are expanding into Colombia. This makes it an ideal market for expanding e-commerce companies to consider, writes Charles Whiteman in a recent post at Latin Trade.
Colombia now has the third-largest economy in Latin America (surpassed only by Brazil and Mexico), wrote Whiteman, MotionPoint's SVP of client services. In the past 15 years, the country's GDP (PPP) grew from $120 billion to nearly $700 billion. Poverty levels dropped more than half during the same time period.
Internet use and smartphone penetration is growing rapidly, too, making Colombia a worthy market to investigate and invest in. This market is increasingly comfortable in making purchases online.
Read more at Latin Trade. (Subscription required to access full story.)