The Latin American region presently has 300 million digital consumers, with a 20% increase expected by 2027, according to a recent PayU GPO report.

The rapid expansion emphasizes the region’s role as a crucial market, fueled by increased internet access and a developing economy.

According to a report by The Paypers, between 2019 and 2022, the number of Latin American shoppers utilizing PayU to conduct e-commerce payments more than doubled, going from 15.3 million to 29.3 million. Furthermore, the figure is predicted to rise in the coming months, reaching a projected 33.9 million by 2024.

Latin America’s booming regions, including Argentina, Brazil, Chile, Colombia, Mexico, and Peru, are predicted to enjoy a 25% increase in e-commerce market volume, bolstering the region’s position.

Despite inflation, the survey indicated that Brazil and Mexico are poised to dominate the Latin American e-commerce sector, with compound annual growth rates of 77.2% and 68.2%, respectively, by 2027.

Retail media is poised for growth, with Insider Intelligence/eMarketer forecasting an annual spending increase of more than 19% through 2027.

According to the graph, retail digital ad spending will continue growing over the coming years, making up nearly 27% of the total digital ad spending market by 2027.

In 2021, retail online ad spending was only 14% of the overall digital ad market, and by 2023 is set to reach over 17%.

This trend demonstrates that e-commerce will increase in importance from where it is today.

Elon Musk, the CEO of X, suggested today that the social network formerly known as Twitter may no longer be free.

Musk stated that the firm was “moving to a small monthly payment” for using the X system in a live-streamed conversation with Israeli Prime Minister Benjamin Netanyahu on Monday. He stated that such a move would be required to address the platform’s bot problem.

During the chat, Musk also disclosed fresh figures about X, noting that the site now has 550 million monthly users who generate 100 to 200 million daily posts.

Alibaba, a major Chinese e-commerce company, has informed Turkish President Tayyip Erdogan that it intends to invest $2 billion there.

Michael Evans, the president of Alibaba, reportedly made the remarks during a meeting with Erdogan, according to a statement from the Turkish subsidiary of the company, reported Reuters. It made no mention of when the investment would be made.

Evans also stated that Alibaba had invested $1.4 billion in Turkey through its subsidiary Trendyol, one of Turkey’s most well-known e-commerce platforms, according to the statement.

Evans reportedly provided information about potential investments, including a data center, a logistics center, and an export operation center at Istanbul Airport, according to Trendyol, whose president Caglayan Cetin also met with Erdogan.

Mango, a Spanish family-owned apparel store, announced on Thursday that it has increased its online sales in 20 regions, most of which are in Africa.

Mango announced it will establish e-commerce operations with its brands for women, men, and children in Senegal, Ghana, Ethiopia, Zimbabwe, Mali, Uganda, and Madagascar, reported Reuters. Mango was already active in various countries in the region, with 54 franchise stores.

It will also begin operating online in Haiti, the Dominican Republic, and Bermuda. Mango established its online presence in Brazil earlier this year.

Expanding into Africa and Latin America could be a sign for other e-commerce brands to also start advertising in these emerging markets.

Digital retail media is expected to have an annual spending increase of more than 19% through 2027, according to a forecast by Insider Intelligence/eMarketer.

The graph shows retail digital ad spend growing from around $55 billion in 2024 to over $106 billion in 2027.

This demonstrates robust growth in e-commerce, which includes dropshipping.

TikTok has officially launched its online shopping feature in the United States after months of testing, according to a blog post published on Tuesday, as its Chinese owner ByteDance seeks to capitalize on the social media app’s popularity.

“TikTok Shop will now bring shoppable videos and LIVE streams directly to For You feeds across the country – and give brands, merchants, and creators the tools to sell directly through shoppable content on the TikTok app,” the company stated.

“Creators have a new way to monetize their creativity by sharing products in short videos and livestreams, and sellers can choose the Affiliate plan that’s the right fit for their brand,” the blog stated.

Other features of TikTok Shop include Fulfilled by TikTok, a shipping solution for TikTok stores, and a secure checkout using third-party payment processors.

Merchants can manage their TikTok Shop through Shopify with integrations to other e-commerce platforms such as WooCommerce, BigCommerce, and Magento.

TikTok is integrating online shopping into its main app, trying to mimic the success of Asian platforms Shein and PDD Holdings’ Temu, according to Reuters.

In Instagram’s settings menu, you can toggle “Upload at Highest Quality,” which uploads pictures and videos to the highest quality.

This setting is automatically toggled off when you download the Instagram app, notes The Verge.

To do this, click the menu, choose Settings and Privacy, and then scroll down to Data Usage and Media Quality. Then, toggle Upload at Highest Quality to turn it on.

TikTok has messaging functions, yet no one considers TikTok to be a messaging app.

However, the firm’s parent company, ByteDance, is looking for several positions on a team named “TikTok Social,” which looks to be tasked with turning TikTok into a far more powerful messaging system, reported Axios.

According to sources at TikTok, there is worry that users are posting TikTok films externally on other social media and messaging applications when they wish to discuss them with friends.

In posts for positions for Android and iOS engineers in San Jose, California, TikTok says it is looking to build a platform that “enables users to meet and interact with their real-life friends seamlessly on TikTok and encourage them to share their life moments with each other and stay connected regardless of where they are.”

While TikTok presently supports direct texting, its usefulness is limited.

Gross payment value growth on US digital commerce platforms will slow this year, increasing only 9% compared to 25% last year, according to a projection by Insider Intelligence/eMarketer.

By 2025, the gross payment value will be $363.28 billion, more than doubling what it was in 2020.

According to the forecast, US digital commerce platforms will handle 57.7% of their retail e-commerce sales on behalf of their merchants in 2023.

Insider Intelligence/eMarketer anticipates that digital commerce platforms will extend their payment processing offerings in the future due to this tremendous revenue-generating potential.