Mercado Livre is king of the e-commerce world in Brazil, according to a new report from global affiliate marketing network Admitad. In total, the Brazilian e-commerce market rose 12.8%, totaling $21 billion in revenue, making it one of the most fastest developing markets in the world.

The report main findings are:

• Latin American online marketplace Mercado Livre dominated the e-commerce market, with nearly 60 million unique users out of a nationwide total of 73 million

• Signs point to expanding influence of foreign giants such as Amazon, eBay, and Alibaba, who each saw their market share rise significantly last year, posing a threat to the long-term viability of Mercado Livre.

Admitad’s findings are based on analysis of advertisers and publishers’ data in their network, revealing various insights on consumer and vendor behavior. Members of the network generated over US $3.4 billion in sales in 2018 and the report features over half a million publishers and nearly 2,000 advertisers – including Booking.com, Alibaba and Aeroflot.

Additional Points to Note:

• The Brazilian marketplace is defined by ‘monopolization’ of turnover, whe-e 98.6% of advertising income is focused in two categories: ‘Goods from China,’ and ‘Travel and Tourism;’

• Internet penetration is low in comparison to other countries with only 58.3% of the population having regular access to the internet;

• Online retail makes up only 3.3% of total retail turnover in the country and is expected to grow to only 3.5% by 2019;

• The average online retailers’ income for a user per year is expected to rise from $187 to $240 by 2022;

• Cashback is dominant in advertisers’ total sales, taking up 65.8% of the marketplace;

• ‘Online services’ made up the highest publishers’ income per sale at $13.8 with ‘Household Appliances and Electronics’ second at $11.