Ingram Micro Commerce & Lifecycle Services, a provider of global logistics and supply chain management solutions, has announced the availability of its 80,000 square foot Foreign-Trade Zone (FTZ) in Miami to support cross-border shipping and fulfillment into and out of Latin America.
Ingram Micro’s network of global warehouses comprises 150+ facilities, including three FTZs. The Miami warehouse is the company’s newest FTZ, providing strategic access to rapidly growing markets in Central America, South America, Mexico and the Caribbean.
Given its proximity to Miami International Airport, the natural hub for exporting into Latin American, Ingram Micro’s Miami FTZ offers a geographic advantage for businesses with consumer markets in Latin America. eMarketer projects retail ecommerce in Latin America to grow by $32.6 billion USD between 2020 and 2023, and survey by Nelson shows that 54.6% of consumers in Latin America purchase from overseas websites.
The Miami facility enables high-velocity cross-border shipping throughout the region, with an average small parcel shipping speed of 3.1 days (shipping times range from 1.2 to 6 days, depending on destination), making it an attractive resource for companies looking to expand into the Latin American market through a single point of entry.
“As global trade and cross-border commerce grow, we are pleased to announce the availability of our Foreign-Trade Zone in Miami, giving product manufacturers, wholesalers and international companies with consumers in Latin America an opportunity to take advantage of the many business benefits an FTZ offers,” said Martin Garcia-Brosa, executive managing director of Latin America, Ingram Micro. “This strategic facility helps our customers thrive across multiple verticals in a competitive global market.”
Driving factors motivating consumers in Latin America to shop cross-border include a shortage of domestic vendors supplying demand, competitive prices, and product variety, among others. FTZs can provide cost savings on high-demand international imports, including health and beauty products, apparel, and consumer electronics, and more.
