Fashion market in Panama

The Panamanian Fashion eCommerce market is predicted to reach US$251.5 million by 2025 and accounts for 20.8% 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 2025-2029) will be 5.2%, resulting in a projected market volume of US$308.3 million by 2029. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Fashion Accessories market in Panama

The Panamanian Fashion Accessories eCommerce market is predicted to reach US$10.0 million by 2025 and accounts for 23.2% of the Bags & Accessories 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 2025-2029) will be 7.3%, resulting in a projected market volume of US$13.2 million by 2029. The Fashion Accessories eCommerce market is a sub-market of the Bags & Accessories market. Further categories within the Bags & Accessories market are: Jewelry & Watches, and Luggage & Bags.

eCommerce revenue development in the Fashion Accessories market in Panama

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Fashion Accessories market in Panama

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)14.254.639.723.076.977.80.146.1

Online share

eCommerce online share of the total Fashion Accessories 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 Fashion Accessories retail market, the online share is 36.3% and will increase by an average of 4.2% to 42.8% by 2029.

eCommerce online share of the total Fashion Accessories market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)20.5%80.5%50.0%97.9%3.9%67.5%64.7%25.1%

Market definition

Definition of the Fashion Accessories market within the Fashion market

Market definition: Fashion > Bags & Accessories > Fashion Accessories The category Fashion Accessories includes the online trade of belts, scarves and shawls, sunglasses, and more. This category does not cover luggage and bags and jewlery and watches. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Belts
  • Scarves and shawls
  • Sunglasses
  • Headgear
  • Wallets
  • Wallets and purses

Out-of-scope

  • Luggage and bags
  • Jewlery and watches