According to Business Insider’s Latin American E-commerce Report, Spanish-speaking markets are on track, right behind the Asian-Pacific market to be one of the fastest-growing regions for e-commerce, globally. Latin online retail sales are expected to grow “at a compound annual growth rate of 17% between 2014 and 2019 to reach $85 billion in sales at the end of the forecast period.”
The US Census Bureau reports that Hispanics are the largest ethnic or racial minority group in the country with 56.6 million Hispanics in the US, or 17.6% of the total population, as of July 2015. Interestingly, California continues to have the largest Latino population among all of the US states but the Latino population in Texas has grown faster. In 2014, 15 million Hispanics lived in California, a 37% increase from 2000 when there were 10.9 million as opposed to an increase of 56% in Texas from 2000 (6.7 million) to 2014 (10.4 million). The Census Bureau estimates that Hispanics will comprise over 28% of the total population with 199 million residing in the US by the year 2060.
Understanding this data and the impact of a growing Hispanic population in the US is important if you are considering expanding your e-commerce business to the US. The large Hispanic population now living in the US is very interested in the products and brands they are familiar with from their home countries. It is important to direct your company’s expansion efforts accordingly because the Internet makes it incredibly easy to reach customers anywhere in the world. In order to compete and be successful, your business will need to be able to ship packages in a timely manner and distribute your products in the US without any delays due to long distances. If thoughtfully planned, it is possible to be successful.
Whether your Latin American business is a well-established brand or you’re a startup looking to expand into US markets, finding the right US fulfillment company for your products, can save you money and time.
Stress-free, customized international distribution
We recommend partnering with a US fulfillment company with third-party logistics customized for your company’s needs to help grow your Latin American company. A third-party company should be able to process all of your orders and meticulously package your goods, while shipping experts keep your company in compliance with domestic and international distribution regulations.
Grow with Phase V Fulfillment Company
As soon as your products are received at our humidity-controlled ambient temperature storage facility in Ft. Myers, FL, our warehouse logistics pros inspect your inventory and assign stock keeping units (SKUs) to your products that help keep your inventory organized and easily accessible to our packing personnel. Located strategically near interstates and domestic shipping lanes, we are also in a prime location near international ports of call. After inspecting your products for quality and quantity upon arrival, your inventory is assigned a dedicated space in our facility. From there, our data-driven technology keeps you in touch with your products through every step until your packages are delivered successfully to your customers in the US and beyond.
Latin American companies are growing substantially in e-commerce markets. At Phase V, we can help you grow your Spanish-speaking market into an international business. By partnering with Phase V for your US and international fulfillment and inventory management operations, you gain exposure to coast-to-coast US markets, as well as international distribution. Contact us today to find out more on how to save money, increase sales and expand your Latin American company in a transparent, stress-free process.