eCommerce market in Colombia

Colombia is the 32nd largest market for eCommerce with a predicted revenue of US$10,064.5 million by 2023, placing it ahead of Denmark. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 9.6%, resulting in a projected market volume of US$14,520.9 million by 2027. With an expected increase of 13.1% in 2023, the Colombian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Colombia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Colombian eCommerce market. Electronics & Media is the largest market and accounts for 29.9% of the Colombian eCommerce revenue. It is followed by Fashion with 25.1%, Toys, Hobby & DIY with 18.0%, Furniture & Appliances with 17.7%, and Food & Personal Care with the remaining 9.4%.

Market development

eCommerce revenue development in Colombia

Colombia is the 32nd largest market for eCommerce with a predicted revenue of US$10,064.5 million by 2023, placing it ahead of Denmark. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 9.6%, resulting in a projected market volume of US$14,520.9 million by 2027. With an expected increase of 13.1% in 2023, the Colombian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Colombia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Colombian eCommerce market. Electronics & Media is the largest market and accounts for 29.9% of the Colombian eCommerce revenue. It is followed by Fashion with 25.1%, Toys, Hobby & DIY with 18.0%, Furniture & Appliances with 17.7%, and Food & Personal Care with the remaining 9.4%.

eCommerce revenue development in Colombia

in million US$, in %

Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war

Source: Statista Market Insights, ecommerceDB

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 22.1 94.8 31.6 55.0 82.7 65.1 35.9 50.4
AOV (in US$) 30.0 27.5 99.1 9.5 9.0 31.8 72.3 56.1
CVR (in %) 22.1 94.8 31.6 55.0 82.7 65.1 35.9 50.4
AOV: Average Order Value CVR: Conversion Rate

Top stores

Top five online stores in Colombia by net sales 2021

The biggest player in the Colombian eCommerce market is exito.com. The store had a revenue of US$145.2 million in 2021. exito.com is followed by alkosto.com and homecenter.com.co as the second- and third-largest stores with US$120.0 million and US$92.7 million, respectively. Altogether, the top three stores account for 28.9% of the top 100 online stores' revenue in Colombia. Store rankings include 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.

eCommerce net sales generated in Colombia in 2021

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ecommerceDB analysis

no-access-0 no-access-1 no-access-2 no-access-3 no-access-4
Filtered revenue (in mUS$) 900.0 550.0 470.0 430.0 370.0
Share of global revenue (in %) 20.7 12.0 3.9 20.6 20.7
Global revenue (in mUS$) 8,300.0 4,600.0 1,190.0 2,122.0 1,814.0
Growth global revenue (in %) 8.3 12.4 33.6 18.0 12.6