eCommerce market in Colombia
Colombia is the 45th largest market for eCommerce with a predicted revenue of US$4,997.3 million by 2024, placing it ahead of South Africa. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 11.3%, resulting in a projected market volume of US$7,682.3 million by 2028. With an expected increase of 12.2% in 2024, the Colombian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Colombia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Colombian eCommerce market. Electronics is the largest market and accounts for 24.2% of the Colombian eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 21.1%, Furniture & Homeware with 11.2%, Care Products with 8.4%, DIY with 8.3%, and Grocery with the remaining 5.7%.
Monthly revenues
Monthly revenues in the Colombian eCommerce market
The monthly eCommerce revenue of the Colombian eCommerce market was US$456 million in November 2024. This refers to a growth of 1.0% compared to October 2024. Within the last 12 months, the monthly revenue share was the highest in December 2023 with 10.4% of the total 2023 revenue of the Colombian eCommerce market and the lowest in February 2024 with 6.8% of the total 2024 revenue.
Revenue Last Month
US$456.3m
The eCommerce revenue grew by 1.0% from October 2024 to November 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 30.2 | 14.5 | 64.9 | 23.0 | 46.8 | 56.8 | 60.5 | 23.6 | 100.0 | 59.4 | 90.3 | 86.0 |
Market development
eCommerce revenue development in Colombia
Colombia is the 45th largest market for eCommerce with a predicted revenue of US$4,997.3 million by 2024, placing it ahead of South Africa. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 11.3%, resulting in a projected market volume of US$7,682.3 million by 2028. With an expected increase of 12.2% in 2024, the Colombian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Colombia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Colombian eCommerce market. Electronics is the largest market and accounts for 24.2% of the Colombian eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 21.1%, Furniture & Homeware with 11.2%, Care Products with 8.4%, DIY with 8.3%, and Grocery with the remaining 5.7%.
eCommerce revenue development in Colombia
eCommerce revenue growth in Colombia
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 81.8 | 37.0 | 45.5 | 14.8 | 42.1 | 91.7 | 89.1 | 94.1 |
Top stores
Top five online stores in Colombia by net sales 2023
The biggest player in the Colombian eCommerce market is alkosto.com. The store had a revenue of US$146.4 million in 2023. Store rankings include every store that generates revenue in Colombia. 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 Colombia was considered.
eCommerce net sales generated in Colombia in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Colombian eCommerce market
With 94.6% VISA the most commonly offered payment method of all online stores in the Colombian eCommerce market in 2023. Like VISA Mastercard with a share of 92.5% and American Express with a share of 91.4% the payment type Cards is the most common used by online retailers in in the Colombian eCommerce market in 2023. Other commonly used payment methods in that market are Invoice (unknown) with 81.7% and PSE (Bank transfer) with 76.3% of stores offering that payment method to the clients.
Top 5 offered payment methods in the Colombian eCommerce market
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