New Market Research Report: Internet Retailing in Venezuela
New Retailing market report from Euromonitor International: "Internet Retailing in Venezuela"
[USPRwire, Wed Jan 21 2015] Regulatory restrictions to purchase in dollars became higher in 2014. The Venezuelan government reduced the annual amount of purchases through the internet at foreign sites from US$400 to US$300 per each Venezuelan credit card holder. Only Venezuelans who own credit cards issued by foreign banks have no limit but this consumer group is very small. Although the maximum annual quantity is very small, incentives to spend the entire amount is very high. The exchange rate applicable to online purchases is Bsf11/US$1 whilst the average free-market exchange rate ranged Bsf80 – 100/US$1 in 2014.
Competitive Landscape
Amazon.com led sales in 2014, gaining eight percentage points to hold 64% value share. Venezuelans find that this is the site most complete in terms of supply and variety but they have to take charge of the carrier from the US to Venezuela. Sometimes consumers ask friends that travel to the US or simply pay for a private international carrier.
Value growth in local currency will be favoured by expected devaluations. Online transactions at foreign sites are currently subsidised but the government. However, it is likely to see large movements of the rate applicable to these transactions as the government faces difficulties to provide foreign currency for all requirements. At the same time, confidence in online purchases and internet penetration will continue increasing over the forecast period. Nevertheless, regulatory restrictions to guarantee supply to the entire demand will remain as a relevant obstacle to offer internet retailing.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Internet Retailing industry in Venezuela with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Internet Retailing industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.
The Internet Retailing in Venezuela market research report includes:
* Analysis of key supply-side and demand trends
* Detailed market shares for international and locally-based retailers
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
* Who are the leading retailers in Venezuela?
* How quickly is internet retailing growing in Venezuela?
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