Investing in the Brazilian online market is an excellent opportunity to scale businesses internationally and connect with a growing consumer base. After all, Brazil is a country of continental proportions, with an equivalently large population of around 215.8 million people. Despite the geographical and cultural differences associated with its size, these citizens are interlinked through digital connectivity. As such, they play a major role in the growing online engagement that places Brazil in the spotlight in global industry rankings and reports, such as the Digital 2023: Global Overview Report, which is conducted annually and is considered one of the most comprehensive on digital platforms.
Here are some data points to help identify the best opportunities to invest in the Brazilian online market.
With a population of more than 215.8 million, Brazil is one of the world's leading internet users. According to the Global Overview Report, there are 181.8 million users, representing 84.3% of the country's total population. Compared to last year's report, this index shows a growth of 4.1% (or 7.1 million people).
In addition, there are 221 million active mobile connections in Brazil, representing 102.4% of the population. In other words, there are more mobile devices connected to the Internet than there are people in the country. This creates a favourable environment for the growth of digital businesses.
Based on the Digital 2023: Global Overview Report, Brazil has 152.4 million active social media users. This figure represents 70.6% of the population - a definite sign of the importance of these channels in the country's daily life. The report also reveals the average time Brazilians spend on social media each day: 3 hours and 46 minutes. This represents an increase of 2.3% compared to 2022.
Therefore, there are good opportunities to reach specific audiences and build a closer connection with Brazilian consumers on platforms such as WhatsApp, Instagram, Facebook, TikTok, and Twitter. In this regard, effective digital marketing can convert prospects into followers and followers into loyal customers.
For example, the potential audience reach for Instagram ads is 113.5 million, or 52.6% of the Brazilian population. On TikTok, it's 82.21 million, or 38.1% of the population.
It's not just time spent on social media that grabs attention in Brazil. The total time spent on smartphones is also considerable. After all, this type of device has become an almost essential extension of Brazilians' daily lives - 98.9% of the population owns a smartphone. In addition, 97.1% of Brazilian users browse on their phones. Each person spends an average of 5 hours and 28 minutes on the Internet each day.
As the average time spent on mobile devices continues to grow, the opportunities for applications, e-commerce, and online services are in the spotlight. Investing in mobile solutions can therefore be the key to gaining significant market share.
Brazil's rich cultural diversity is without doubt reflected in different consumption patterns. Understanding regional nuances and consumer preferences is therefore crucial to success in the Brazilian online market. Another elementary detail is to offer the payment methods preferred by the local population.
It's wise to have a partner who speaks your consumer's language, both to facilitate cross-border payments and to ensure compliance with local legislation. At the end of the day, the Brazilian online market is a fruitful one for visionary investors - and a strategic partnership can make all the difference.
With a connected population, a high presence on social media, and a growing affinity for mobile technology, the opportunities for digital businesses are vast and promising.
When we think about cross-border payments, there can be some challenges along the way. However, in the country of growing online engagement, even monetary transactions have evolved with connectivity. Evidence of this can be seen in Pix - the instant payment method that has established itself as the most used by the Brazilian population.
According to the Digital 2023: Global Overview Report, the number of people making digital payments in Brazil is 123.8 million. In addition, the average amount spent annually per user has already reached $555.
Given this, the best way to deal with cross-border payments is to rely on Safepag. It's a strategic partner that will help you scale your results in Brazil in a simple, agile, and transparent way. With Safepag, international transactions can be carried out with a single integration and multiple benefits through Pix. Do you want to know more? Get in touch with our team!
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