Global expansion guide to high-growth markets: Brazil & South Africa

High-growth markets are critical engines for global economic growth, driven by digital infrastructure, rising middle-class populations, and high mobile penetration. By 2027, nine out of ten new consumers entering the global economy will come from emerging markets.

There are clear financial opportunities for business expansion in these markets. Brazil and South Africa’s eCommerce market are in states of high growth, with projected compound annual growth rates (CAGR) of 28% and 18% between 2023 and 2027, respectively.

However, there are still challenges for eCommerce businesses looking to enter these regions. Without a local entity, for example, online merchants run the risk of high foreign exchange fees and poor authorization rates in high-growth markets. Partnering with a Merchant of Record, meanwhile, allows international businesses to trade like local ones, without setting up a foreign presence.

This series of guides helps merchants build and execute effective globalization strategies. This second edition outlines the key opportunities in Brazil and South Africa, including trending payment methods, changing local consumer trends, and addressing the unique challenges of their respective market landscapes.

Key Results

• $15.8bn | Projected valuation of South Africa’s eCommerce market by 2027.
• $276.9bn | Estimated total eCommerce volume for 2023, in Brazil.
• 70% | 7 in 10 of South Africa’s online eCommerce payments are made via smartphones.
• 33% | A third of Brazilian eCommerce payments are made via local payments system, PIX.

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