Fashion market in Panama

The Panamanian Fashion eCommerce market is predicted to reach US$441.8 million by 2023 and accounts for 26.7% 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 2023-2027) will be 13.9%, resulting in a projected market volume of US$744.1 million by 2027. Within the Fashion market ecommerceDB considers the following three sub-markets: Apparel, Bags & Accessories, and Footwear.

Market development

eCommerce revenue development in the Luxury Footwear market in Panama

The Panamanian Luxury Footwear eCommerce market is predicted to reach US$5.9 million by 2023 and accounts for 5.9% 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 2023-2027) will be 12.0%, resulting in a projected market volume of US$9.2 million by 2027. The Luxury Footwear eCommerce market is a sub-market of the Footwear market. Further categories within the Footwear market are: Leather Footwear, Other Footwear, Sneakers, and Textile & Other Footwear.

eCommerce revenue development in the Luxury Footwear market in Panama

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$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 65.6 69.2 24.1 54.6 90.2 5.9 76.7 32.0
AOV (in US$) 94.3 25.9 86.5 48.3 97.8 6.0 3.0 74.4
CVR (in %) 65.6 69.2 24.1 54.6 90.2 5.9 76.7 32.0
AOV: Average Order Value CVR: Conversion Rate