Electronics market in Panama

The Panamanian Electronics eCommerce market is predicted to reach US$281.5 million by 2024 and accounts for 24.0% 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 3.4%, resulting in a projected market volume of US$322.4 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Electric Toothbrushes market in Panama

The Panamanian Electric Toothbrushes eCommerce market is predicted to reach US$1.6 million by 2024 and accounts for 17.5% of the Personal Care Appliances 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 9.4%, resulting in a projected market volume of US$2.3 million by 2028. The Electric Toothbrushes eCommerce market is a sub-market of the Personal Care Appliances market. Further categories within the Personal Care Appliances market are: Hair Dryers, Other Personal Care Appliances, and Shavers.

eCommerce revenue development in the Electric Toothbrushes 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 Electric Toothbrushes 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 %)55.293.392.559.984.087.794.324.8

Online share

eCommerce online share of the total Electric Toothbrushes 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 Electric Toothbrushes retail market, the online share is 26.3% and will increase by an average of 10.5% to 39.2% by 2028.

eCommerce online share of the total Electric Toothbrushes market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)23.3%17.8%73.0%17.1%50.5%66.8%7.8%50.9%

Market definition

Definition of the Electric Toothbrushes market within the Electronics market

Market definition: Electronics > Electrical Appliances > Personal Care Appliances > Electric Toothbrushes The category Electric Toothbrushes includes the online trade of electric toothbrushes (e.g. sonic electric toothbrushes, rotating electric toothbrushes, pulsating electric toothbrushes, ultrasonic electric toothbrushes, ionic electric toothbrushes). This category does not cover non-electric toothbrushes. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Electric toothbrushes (e.g. sonic electric toothbrushes, rotating electric toothbrushes, pulsating electric toothbrushes, ultrasonic electric toothbrushes, ionic electric toothbrushes)

Out-of-scope

  • Non-electric toothbrushes

Market comparison

The Panamanian Electric Toothbrushes market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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