RIO DE JANEIRO, BRAZIL - Bank of America (BofA) commented in a report regarding the entry of global e-commerce giants into Brazil and how faster shipping and the difficulty of tax collection can be an opportunity or a threat to local businesses.
International e-commerce in Brazil grew 67% in 2019 after Brazil's Postal Service Correios and its Chinese equivalent allowed third parties to handle long-distance freight delivery in Brazil, dramatically reducing shipping times.
The following year, growth accelerated by 76%, according to consultancy Ebit Nielsen, reaching 21% of total e-commerce in the country at R$22 . . .