Digital transformation is reshaping B2B in Latin America, blending data-driven selling and personal relationships. Companies that balance tech innovation with a human touch are leading the region’s evolving market

Latin America’s market – or rather, its many diverse markets – offers increasingly scalable business opportunities across various sectors. With a population of 658 million, the region not only represents a vast consumer base but also signals significant potential in the B2B sector, especially through digital channels.

A Gartner survey predicted that by 2025, 80% of B2B sales interactions worldwide between suppliers and buyers would take place through digital channels. Furthermore, 60% of B2B sales organizations are expected to shift “from experience- and intuition-based selling to data-driven selling, merging their sales process, applications, data, and analytics into a single operational practice.”

In Latin America, this shift is happening at different paces depending on the market’s maturity. However, these innovations do not mean abandoning the human connection that is so characteristic of the region. On the contrary, relationships built on personal interaction remain highly valued, as I’ll demonstrate below. Beyond good deals, what B2B customers want – and in this, they are very alike to B2C buyers – is an omnichannel, frictionless purchasing experience.

**A trillion-dollar market**

According to BCG, global B2B e-commerce sales reached US$ 23.4 trillion in 2023. Although still fragmented across many sectors, B2B businesses in Latin America have increasingly adopted online platforms in recent years, cutting out intermediaries, improving pricing, and managing inventory more efficiently.
This process is still uneven among the region’s 20 countries, but its adoption is inevitable. Data from **Strait Research** indicates that the Latin American B2B e-commerce market is projected to reach US$ 2.5 trillion by 2030.

It’s worth noting that the five largest economies in the region have a combined GDP of over US$ 5 trillion and account for nearly 70% of the region’s population, according to the World Bank:

Brazil (US$ 2.17 trillion);
Mexico (US$ 1.79 trillion);
Argentina (US$ 647 billion);
Colombia (US$ 363 billion;
Chile (US$ 336 billion).

B2B vs. B2C: Are they really that different?

As everyone knows, B2B sales differ from B2C not just because they target other companies instead of end consumers. The process takes longer; products and service bundles are more customized, and quantities often require unique logistics. However, in practice, B2B customers increasingly display consumer-like purchasing behaviors.

This means that beyond solutions, they also seek a satisfying process, value convenience, and show loyalty when their needs are met. The B2B Pulse Survey by McKinsey & Company, which gathered responses from nearly 4,000 B2B decision-makers across eight major industries in 13 countries (including Brazil and Chile), highlights this trend.

Another key finding from this survey is the balance between sales and communication channel preferences. “At any given stage of the buying journey, one-third of customers want in-person interactions, one-third prefer remote communications, and one-third opt for digital self-service.” McKinsey calls this the “rule of thirds,” and I would add that Latin American companies must strive to balance these forms of contact.

Marketplaces and curated sellers

Another factor that Latin American companies – and those looking to invest in the region – cannot ignore is the rise of marketplaces. A study by BCG shows that companies are launching specialized B2B marketplaces offering tailored solutions and products for specific sectors. These platforms provide access to a wide range of high-quality, curated sellers and personalized user experiences.

According to the study, reasons to launch a marketplace include operational simplicity, a stronger customer value proposition, data insights into business preferences and market trends, and economic benefits such as an additional 5% to 7% EBITDA margin.

What’s clear is that, in B2B, small and medium-sized Latin American businesses that haven’t yet digitalized are losing procurement opportunities with larger companies. Meanwhile, big companies using digital platforms must not lose sight of the human touch. They can also keep customers within their ecosystem, while opening new revenue streams through marketplaces. However, as mentioned earlier, there are many nuances in the vast Latin American market. For investors, it is wise to seek local partners who understand the economic landscape and cultural diversity of each region. As for the digital B2B approach, with the right amount of human touch, it can enable companies to expand beyond borders, opening Latin America to the world – and the world to Latin America.

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Leading Questions About B2B in LATAM

How are digital platforms transforming B2B in Latin America?

Digital platforms are streamlining operations and enabling data-driven sales, but success still relies on blending technology with local market understanding and relationships.

Why does the human touch remain vital in B2B sales despite digital advances?

Personal relationships and trust are deeply valued in LATAM business culture, making the human touch essential for building long-term partnerships, even as digital tools gain ground.

What challenges do small and medium-sized businesses face in digitalizing B2B operations?

SMBs often lack resources and expertise for digital transformation, making it harder to compete with larger firms that can invest in advanced technologies and platforms.

How important is local expertise for foreign investors entering the LATAM B2B market?

Partnering with local experts helps foreign investors navigate cultural nuances, regulatory complexities, and build trust with regional stakeholders, increasing their chances of success.

What role do specialized B2B marketplaces play in the region?

Specialized marketplaces connect buyers and sellers efficiently, foster transparency, and open new channels for growth, but must adapt to local business practices to thrive.