e-Commerce Market Analysis

The eCommerce market in Colombia

Colombia is the 34th largest market for eCommerce with a revenue of US$3 billion in 2018, placing it ahead of Iran and behind Argentina.

With an increase of 13%, the Colombian eCommerce market contributed to the worldwide growth rate of 11% in 2018. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.

The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets. Excluded from the definition of ecommerceDB are the following: digitally distributed services (e.g., travel tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private individuals (C2C) within the eCommerce market.

The eCommerce market in Colombia

Top online stores

The biggest player in the Colombian eCommerce Market is falabella.com.co. The store had a revenue of US$0.1 billion in 2018. It is followed by exito.com with US$64.5 million revenue and alkosto.com with US$46.9 million revenue. Altogether, the top three stores account for 10% of online revenue in Colombia.

Store rankings are based on every store that generates revenue in Colombia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Colombia was considered.

One of the fastest-growing stores in the Colombian market is technostore.co. The store achieved sales of about US$0.1 million in 2018. Its revenue growth amounted to 180% in the previous year.

Top online The eCommerce market stores in Colombia by eCommerce net sales 2018 in million US$ The table shows the stores that generate the highest revenue in the Colombian market. For this evaluation, only revenue created in Colombia was considered. Basis are all shops on eCommerceDB that operate in Colombia.

# Store
1. falabella.com.co US$117m
2. exito.com US$64m
3. alkosto.com US$47m
4. dafiti.com.co US$37m
5. tiendasjumbo.co US$33m
The eCommerce market in Colombia

Market size and growth rate

Revenue in 2018
US$2,969m
REVENUE
CAGR 2018-2022
15%
CAGR

Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
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Market expansion in Colombia is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 18-22) for the next four years will be 15%. Compared to the year-over-year growth of 13%, this increase suggests that the market still has growth potential and is not yet saturated. Another indicator of market saturation is the online penetration of 60% in Colombia; in other words, 60% of the Colombian population have bought at least one product online in 2018.

Five categories are considered by ecommerceDB. Electronics & Media is the largest segment in Colombia and accounts for 34% of the eCommerce revenue in Colombia. This is followed by Furniture & Appliances with 24%, Fashion with 18%, Toys, Hobby & DIY with 12% and Food & Personal Care with the remaining 11%.

The eCommerce market in Colombia

Explore the competitive landscape