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Brazil e-commerce to grow 31% in 2021 to US$35bn – Goldman Sachs

RIO DE JANEIRO, BRAZIL - Goldman Sachs estimates that Brazilian e-commerce as a whole should grow 31% in 2021, reaching R$201 (US$35) billion in gross sales (GMV) and implying a 13% penetration in the total retail market, up 1.95% year over year.

In absolute terms, MercadoLibre is projected to add R$3.4 billion in new GMV in Brazil in the third quarter, ahead of Americanas with R$2.3 billion, Magazine Luiza with R$1.6 billion, and Via with R$1.4 billion.

From 2021 to 2024, the bank expects e-commerce in Brazil to . . .

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