eCommerce market in Peru

Peru is the 41st largest market for eCommerce with a predicted revenue of US$6,349.0 million by 2024, placing it ahead of Bangladesh. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 14.9%, resulting in a projected market volume of US$11,053.3 million by 2028. With an expected increase of 19.9% in 2024, the Peruvian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Peru, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Peruvian eCommerce market. Electronics is the largest market and accounts for 24.8% of the Peruvian eCommerce revenue. It is followed by Fashion with 21.6%, Hobby & Leisure with 20.8%, Furniture & Homeware with 11.3%, DIY with 8.2%, Care Products with 7.6%, and Grocery with the remaining 5.7%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Peruvian retail market, the online share is 8.7% and will increase by an average of 6.3% to 11.1% by 2028.

The biggest player in the Peruvian eCommerce market is falabella.com.pe. The store had a revenue of US$219.7 million in 2023. Store rankings include every store that generates revenue in Peru. 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 Peru was considered.

With 94.2% VISA the most commonly offered payment method of all online stores in the Peruvian eCommerce market in 2023. Like VISA Mastercard with a penetration of 94.2%, American Express with a share of 90.4%, and Diners Club with a share of 75.0% the payment type Cards is the most common used by online retailers in in the Peruvian eCommerce market in 2023. With a share 63.5% Bank transfer/cash in advance is the most common used payment method offered to the clients of type Bank transfer.

Although VTEX holds a commanding lead with 27.5% of online stores using the shop software solution, the Peruvian eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including WooCommerce, Shopify, PrestaShop, and Magento, which collectively hold a significant share of the market.