2016 venezuela€¦ · 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