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Argentina’s leading ecommerce site Avenida has just received 30 million US dollars’ worth of investment from Naspers and Tiger Global.
Avenida is the most popular ecommerce site in Argentina, handling around 20,000 orders per month and with a predicted 2015 turnover of 30 million US dollars, significantly up from the 8 million US dollars it made in sales last years.
Avenida controls every step of the process for its customers, from browsing to delivery. It currently has 11 distribution centres in the capital Buenos Aires.
It intends to spend the investment on improving its website and also opening up more distribution centres in Buenos Aires and other cities in the country.
The ecommerce market is still relatively immature in Argentina, with just 4% of the population engaging in online shopping. This figure is expected to increase, however, due to rising smartphone penetration, which currently stands at around 70% in the country.