eCommerce market in Chile

Chile is the 31st largest market for eCommerce with a predicted revenue of US$9,538.9 million by 2024, placing it ahead of Greece. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 8.6%, resulting in a projected market volume of US$13,270.2 million by 2028. With an expected increase of 6.8% in 2024, the Chilean eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Chile, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Chilean eCommerce market. Electronics is the largest market and accounts for 26.1% of the Chilean eCommerce revenue. It is followed by Fashion with 22.7%, Hobby & Leisure with 19.0%, Furniture & Homeware with 11.1%, Care Products with 7.9%, DIY with 7.6%, and Grocery with the remaining 5.6%.

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 Chilean retail market, the online share is 10.0% and will increase by an average of 4.8% to 12.1% by 2028.

The biggest player in the Chilean eCommerce market is falabella.com. The store had a revenue of US$1,187.7 million in 2023. Store rankings include every store that generates revenue in Chile. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Chile was considered.

With 97.6% VISA the most commonly offered payment method of all online stores in the Chilean eCommerce market in 2023. Like VISA Mastercard with a penetration of 96.0%, American Express with a share of 86.4%, and Diners Club with a share of 76.0% the payment type Cards is the most common used by online retailers in in the Chilean eCommerce market in 2023. With a share 84.8% unknown is the most common used payment method offered to the clients of type Invoice.

Despite Chilexpress's dominant position with 41.5% of online stores opting for its services, the Chilean eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Correos de Chile, starken, Blue Express, and Own delivery service, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Although Shopify holds a commanding lead with 17.5% of online stores using the shop software solution, the Chilean eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including PrestaShop, Magento, VTEX, and WooCommerce, which collectively hold a significant share of the market.