Cuba Ecommerce

Cuba Ecommerce

Cuba Ecommerce

There are certainly multinational brands that target the Caribbean Island, so something must be there. Well, of course, that would quickly take a decade or two. Cuba may well be a blank shelf that will leapfrog old technology and start again with the latest digital services and know-how, given an adequate investment level, if the laboriously sluggish but steadfast upward trend to commercial opens.

But is there going to be enough money maybe not that far away? Very definitely indeed. Due to its geography, diaspora, and historical linkages with old Europe and the US, the curiosity in the communist island is a great balancing recipient of a thriving Mojito toast.

Internet Penetration Is One Of The Lowest In The World

Just six months earlier, ETECSA (the state telco) decided that Cubans should have wireless internet access. But the percentage of Cubans living in their homes with the Internet is not exactly as you would expect it. The majority must gather in public hotspots (some parks and squares) to get a scratch card and access for a normal hour at an expense which is not irrational but definitely makes Wi-Fi a treat rather than an everyday event.

Ordinary Cubans have no Visa or MasterCard branding logo on them. There are no cards and a large part of the people is banked, but they are national regimes operated by the government, which are not usable outside Cuba, and have been unsuited to e-commerce use. Visa and MasterCard have lifted their blocks parallel to the freezing of the ties between the United States and Cuba, but the economy remains stubborn. Try to pay with your card and get ready to meet a shrug somewhere outside of an overseas hotel.

Knowing that eCommerce needs a high level of Internet penetration and working methods of payment and that these two items are a way away from touching ordinary Cubaans, the headlines are just that. In the future, will this happen? All this seems to be indicating the way, and Netflix/Airbnb may well be setting a basis for the form of what's to come.

Access To The Internet

The internet has practically never been available in Cuba until 2015. This year, Wi-Fi-Hotspots opened across the country by the telecommunications company ETECSA. Since then, the Government has made the development of Wi-Fi hotspots, cyber cafes, and rising of internet connectivity with slowly providing internet to homes. Price is still an enormous challenge, as the hotspots charge actually US$1 an hour (the monthly average pay is US$30 in comparison). As of 2018, about 500 public places were located in Cuba, mostly in the major cities.

According to ETECSA, home access is relatively unavailable to the general public, however, with only 11,000 homes on the internet. The Internet is still very weak, however, and broadband in Cuba is nearly non-existent. Most cell phone owners have their smartphones, but the country still doesn't have mobile internet connections. However, by the end of 2018, thGovernment expects to make it available to the public. In Cuba, nearly half of the population, according to ETECSA, is planning to increase mobile Internet to 5 million mobile users across the region.

Ecommerce Demand In Cuba

The Cuban economy is still not in e-commerce. However, Cuba's e-commerce foundations have been steadily opening up economically, presenting a chance in the future. Nevertheless, government assistance is required for this, which at present does not seem to be the case. Even as the internet is growing, the nation has one of the world's lowest penetrating speeds.

In addition, Cuba is also an economy depending on the cash and foreign payment options are just not open, such as credit cards. There are cards, and many of the people have them, but they do not use national government-run cards outside Cuba, rendering them worthless for e-commerce purposes. Since e-commerce in the country is not being established, Cuba has no common online shops.

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Overview of Cuba Ecommerce

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