2016 venezuela - visa · venezuela’s hyperinflation and volatile exchange rate has significantly...
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Latin America e-Readiness report
Every two years Visa conducts a strategic review of e-Readiness in Latin America in partnership with Euromonitor International. This helps
identify areas of opportunities as well as encourage Internet adoption.
2016
Venezuela
E-READINESS INDEX
27.5
Index
The e-Readiness index helps to measure how developed e-Commerce is in a particular country or region.
Index breakdown
ON-GROUNDLOGISTICS
E-COMMERCEPRESENCE
ONLINECONNECTIVITY
DEVICEACCESS
MONETARYCONNECTIVITY
100%
25%
50%
75%
USA
100%
87.8%
100%90.9%
100%
VENEZUELA
37.4%
9.3%
44.6%30.3%
LATIN AMERICA
63.7%
40.1%40.7%46.4%
19.5%19.4%41.7
LATIN AMERICA
94.5
USA
(BENCHMARK)27.5
VENEZUELA
20142016Profile breakdown
Leading profile
The Pro SurferAvg. age: 44.4 years
Avg. monthly income: US $601
Avg. time spent online per day: 4.7 hours
Consumer profiles
78.5% of Venezuelan consumers fall into two opposing profiles, the Pro Surfer (shop online at least once a month) and the Traditionalist (never shop online).
31.9%
15.7% 5.8%
21.9%
32.4%
24.7% 11.4%
19.1%
USA
USA USA
USA
LAC
LAC LAC
LAC
VEN
VEN VEN
VEN
Pro Surfer Spectator
Explorer Traditionalist
74.0%
13.7%
11.2%53.0%
27.2% 24.4%
5.1%
33.1%21.1%
11.5%
10.0% 34.7% 22.9%
7.2%
18.6%
11.5%
55.6% 30.6%23.2% 11.5%
Internet Users: 59.8%
Online Buyers: 13.9%
31.1MILLION
Device Possession
Percentages shown out of households.
2020 Forecast
7.8%
$652 MILLIONEquating to:
Overview
Venezuela’s hyperinflation and volatile exchange rate has significantly affected e-Readiness. The country performs well in share of banking users, ranking fifth in Latin America. However, credit card usage is in part driven by the desire to avoid inflation.
2015 e-Commerce Market Value
$449MILLION
8.0% of Internet retailing was through mobile.
Internet Retailing: 52.5%
= $235.4 million
40.2%Smartphones
45.6%2.7%Tablets
Personal computers
1 Compounded Annual Growth Rate (CAGR) All statistics from “e-Readiness in Latin America, 2016”, a report prepared for Visa Inc. by Euromonitor International
PopulationThe e-Commerce market value is set to increase annually by:1
VEN Venezuela LAC Latin America USA United States of America