Fashion market in Panama

The Panamanian Fashion eCommerce market is predicted to reach US$247.7 million by 2024 and accounts for 21.1% of the total eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.3%, resulting in a projected market volume of US$305.0 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Boots market in Panama

The Panamanian Boots eCommerce market is predicted to reach US$21.4 million by 2024 and accounts for 31.6% of the Footwear eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 4.0%, resulting in a projected market volume of US$25.0 million by 2028. The Boots eCommerce market is a sub-market of the Footwear market. Further categories within the Footwear market are: Active Footwear, Flat Shoes, High Heels & Pumps, Other Footwear, and Sandals.

eCommerce revenue development in the Boots market in Panama

in million US$

eCommerce revenue growth in the Boots market in Panama

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)52.278.818.55.787.897.860.025.0

Online share

eCommerce online share of the total Boots market in Panama

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 Panamanian Boots retail market, the online share is 23.5% and will increase by an average of 5.5% to 29.1% by 2028.

eCommerce online share of the total Boots market in Panama

in %
20202021202220232024202520262027
Online share (in %)43.7%22.7%86.0%13.5%60.7%95.6%70.2%66.1%

Market definition

Definition of the Boots market within the Fashion market

Market definition: Fashion > Footwear > Boots The category Boots includes the online trade of boots (e.g. ankle boots, chelsea boots, combat boots, rain boots). This category does not cover work boots and motorcycle boots. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Boots (e.g. ankle boots, chelsea boots, combat boots, rain boots)

Out-of-scope

  • Work boots
  • Motorcycle boots