ChannelAdvisor and Latin American e-commerce site iguama announced Wednesday that they have reached a partnership to connect customers to U.S. brands not available in the region.
The mall offers club membership that allows Latin Americans to access U.S. goods without extra costs associated with shipping and importing across national borders.
"Latin Americans watch U.S. television shows and are familiar with U.S. brands, but most products are unavailable in regional shopping malls,” iguama co-founder and CEO Diego Fernandez said. “By integrating with ChannelAdvisor, iguama can now offer U.S. retailers the opportunity to sell their products to Latinos, and let iguama handle the complexities of cross-border transactions including local customer service."
According to the announcement, e-commerce across borders is predicted to grow to approximately $83 billion by 2018. Currently, this market is valued at approximately $30 billion.
Executive vice president of business development for iguama Bruce Matthews said this partnership gives U.S. vendors control over how products are sold while providing increased access to these products to customers in Latin America.
"The relationship between iguama and ChannelAdvisor will revolutionize how Latinos shop and rapidly increase what products they have access to," Fernandez said.
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