eCommerce: Market Revenue Growth
eCommerce Revenue Growth in Colombia
How has the eCommerce revenue growth in the Colombian market evolved from 2018 to 2026? Explore the annual fluctuations in our data analysis.
Article by Patrick Nowak | June 19, 2024Download
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eCommerce Revenue Growth in Colombia
What Was the Trend in eCommerce Revenue Growth in the Colombian Market from 2018 to 2026?
The eCommerce sector in the Colombian market has experienced a notable evolution over the years, showcasing varying growth rates from 2018 to the projected figures for 2026. The journey began with a robust growth rate of 19.8% in 2018, followed by a slight dip to 5.6% in 2019. The year 2020 witnessed a remarkable surge with a growth rate of 62.1%, indicating a significant shift in consumer behavior towards online shopping. This momentum continued into 2021 with a growth rate of 38.2%, although there was a slight slowdown in 2022 with a growth rate of 8.1%. Despite a temporary contraction in 2023 with a growth rate of 10.8%, the market is expected to bounce back in the coming years, with growth rates forecasted at 12.2% in 2024, 11.9% in 2025, and 11.3% in 2026. These fluctuations highlight the dynamic nature of the eCommerce landscape in Colombia, reflecting both challenges and opportunities for businesses operating in this sector.
Main Facts: eCommerce Revenue Growth in Colombia, 2018-2026
- Significant Growth in 2020-2021: The Colombian eCommerce market experienced a substantial increase in revenue growth, reaching 62.1% in 2020 and 38.2% in 2021, showcasing a strong upward trend.
- Slower Growth in 2022-2023: Following the peak in 2021, the market growth rate decelerated to 8.1% in 2022 and 10.8% in 2023, indicating a period of stabilization and adjustment.
- Steady Growth Forecasted Post-2023: The Colombian eCommerce market is projected to maintain a consistent growth trajectory with revenue growth rates of 12.2% in 2024, 11.9% in 2025, and 11.3% in 2026, demonstrating resilience and sustainability.
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