The LATAM region holds limitless opportunities, and in this edition of RedCloud Insights, we spotlight Brazil – a dynamic market with immense potential for startups, consumer brands, and retailers alike.
Brazil’s $1 trillion+ consumer market, the largest in Latin America, presents vast growth opportunities. With its e-commerce sector anticipating a 14.6% annual increase and projected revenue of over $47 billion in 2023, innovative platforms like RedCloud’s Open Commerce can drive significant change and progress in the region.
Our RedCloud Brazil team recently attended Web Summit Rio, one of the biggest tech conferences in Latin America. They connected with industry leaders and showcased how our platform can revolutionise how consumer goods are traded.
In this edition of RedCloud Insights, we’re thrilled to bring you an exclusive Q&A session with Gustavo Eid Pinto Pinto, RedCloud’s Head of Marketing for Brazil. Gustavo will share his insights on the opportunities in the LATAM region and the Brazilian market, particularly how RedCloud empowers brands, businesses, retailers, and distributors to drive growth with Open Commerce.
What opportunities do Latin America offer technology companies like RedCloud?
Latin America is a market with great potential for the technology sector. It has a population of over 650 million people, and internet penetration is increasing daily, which means there are many opportunities for innovation and transformation, especially with e-commerce and B2B marketplaces.
Looking specifically at RedCloud’s opportunity in Latin America, there are over 30 million micro, small and medium-sized enterprises and at least $1 trillion in transactions within the B2B sector. These businesses can be supported with access to an open, transparent trading platform that connects all industry players so they can trade freely.
What was RedCloud’s goal in participating in the WebSummit Rio event? What did you want to achieve?
Our objective in participating in the WebSummit Rio event was first to showcase and promote our company, brand, and the concept of Open Commerce to the Brazilian and Latin American markets. Additionally, participating in the event allowed us to stay in touch with the latest trends and innovations in the technology and e-commerce market and expand our strategic partnerships.
Can you elaborate more on these strategic partnerships?
Certainly. Establishing strategic partnerships is essential for success in the technology and e-commerce sectors. At WebSummit Rio, we had the opportunity to meet new players in the market and identify possible synergies for future collaborations.
The summit brought together some key players in the technology, e-commerce, retail, and consumer goods marketplace industries. It provided us with an excellent opportunity to interact with our target audience and see how we can help solve some of the problems that they face.
Our conversations with the audience showed them the potential of Open Commerce and helped them see what was possible with an open trading platform that works for everyone, not just the big tech companies.
Can you talk more about Open Commerce and the issue with big tech companies?
Open Commerce aims to address the centralisation of power that we often see with big tech companies. These companies, particularly within e-commerce, have a tight grip on the market, which can stifle growth opportunities for small businesses and retailers.
For example, consider a small business trying to sell its products through a major e-commerce platform like Amazon or Mercado Libre. The platform sets the rules, controls the visibility of the products, and takes a significant portion of the revenue as commission. This leaves small businesses vulnerable and powerless, as they’re at the mercy of these larger corporations, often struggling to compete and grow.
Open Commerce, on the other hand, seeks to empower small businesses, retailers, and distributors by providing a decentralised platform that fosters collaboration and growth. By directly connecting brands, retailers, and distributors, we can level the playing field and promote a more equitable market environment, allowing these smaller players to thrive.
Let’s talk more about the summit. What were the main trends in the technology sector discussed at WebSummit Rio?
One of the main trends emphasised was the growing importance of personalisation and customer experience in e-commerce.
Additionally, technologies such as artificial intelligence and big data were heavily discussed to enhance business process efficiency. Another important trend is adopting cybersecurity solutions to protect businesses and consumers from digital threats.
How is RedCloud preparing to keep up with these trends in the technology market?
We understand the importance of staying ahead of the curve in an ever-evolving technology landscape. As a result, our product team has built and continues to develop several tools and products that leverage these trends.
For example, our open commerce platform provides granular, real-time insights to brands and distributors across the entire supply chain. We also have advanced features that allow users to precisely identify and target demand across multiple geolocations to offer personalised services to thousands of retailers and provide a superior customer experience, all with just a few clicks.
Cybersecurity is at the core of our platform and our security team is constantly working to ensure that our users are safe from digital threats.