Are new information technologies a panacea, hype, or somewhere in between?
For over two decades now, Information Communication Technologies (ICT) have been sweeping the globe, from the industrialized nations of the North to developing nations of the South. Some of the most dynamic growth of the latter has been in Latin America and the Caribbean, although connectivity, participation rates, product offerings, services, and costs and revenue vary widely.
Internet retailing provides a good case example. As pointed out by Daniel Latev, writing in this publication, Latin America topped Internet growth globally, achieving a 24 percent increase together with the Asia Pacific region; and it is expected to achieve a compounded annual growth rates of 17 percent through 2015. Generating $12 billion in sales in 2010, with Brazil, Chile and Argentina leading the way, Internet retailing now ranges from extensive online product catalogues (e.g., Walmart, Carrefour) to online purchasing from both bricks and mortar stores and e-commerce only companies. Additionally, collective buying sites, such as US-based Groupon, are emerging in more developed markets such as Brazil.