Electronics market in Panama

The Panamanian Electronics eCommerce market is predicted to reach US$266.1 million by 2024 and accounts for 24.1% 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 3.2%, resulting in a projected market volume of US$301.4 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 Personal Care Appliances market in Panama

The Panamanian Personal Care Appliances eCommerce market is predicted to reach US$7.4 million by 2024 and accounts for 9.6% of the Electrical 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 4.0%, resulting in a projected market volume of US$8.6 million by 2028. The Personal Care Appliances eCommerce market is a sub-market of the Electrical Appliances market. Further categories within the Electrical Appliances market are: Household Appliances.

eCommerce revenue development in the Personal Care Appliances 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 Personal Care Appliances 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)50.674.162.937.427.890.882.624.2
as of Electrical Appliances (in %)14.014.314.714.914.314.514.414.314.114.013.813.7

Online share

eCommerce online share of the total Personal Care Appliances 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 Personal Care Appliances retail market, the online share is 26.3% and will increase by an average of 11.1% to 40.0% by 2028.

eCommerce online share of the total Personal Care Appliances market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)31.3%80.4%17.7%49.4%13.2%36.5%92.6%84.0%

Market definition

Definition of the Personal Care Appliances market within the Electronics market

Market definition: Electronics > Electrical Appliances > Personal Care Appliances The category Personal Care Appliances includes the online trade of hair care appliances, electric shavers and razors, electric toothbrushes, and more. This category does not cover make-up brushes. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Hair care Appliances
  • Electric shavers and razors
  • Electric toothbrushes
  • Epilators and hair removal devices

Out-of-scope

  • Make-up brushes

Market comparison

The Panamanian Personal Care Appliances market in a global comparison

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

in %

Source: ECDB analysis

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