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$14,520.9 million by 2027. With an expected increase of 13.1% in 2023, the Colombian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Colombia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Colombian eCommerce market. Electronics & Media is the largest market and accounts for 29.9% of the Colombian eCommerce revenue. It is followed by Fashion with 25.1%, Toys, Hobby & DIY with 18.0%, Furniture & Appliances with 17.7%, and Food & Personal Care with the remaining 9.4%.
eCommerce revenue development in Colombia
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 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 |
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$92.7 million, respectively. Altogether, the top three stores account for 28.9% of the top 100 online stores' revenue in Colombia. Store rankings include every store that generates revenue in Colombia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Colombia was considered.
eCommerce net sales generated in Colombia in 2021
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ecommerceDB analysis
| no-access-0 | no-access-1 | no-access-2 | no-access-3 | no-access-4 | |
|---|---|---|---|---|---|
| Filtered revenue (in mUS$) | 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 |
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