Electronics market in Nicaragua

The Nicaraguan Electronics eCommerce market is predicted to reach US$61.3 million by 2024 and accounts for 23.9% of the total eCommerce market in Nicaragua. 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 6.5%, resulting in a projected market volume of US$78.7 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 Refrigerators market in Nicaragua

The Nicaraguan Refrigerators eCommerce market is predicted to reach US$4.2 million by 2024 and accounts for 26.5% of the Household Appliances eCommerce market in Nicaragua. 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 8.7%, resulting in a projected market volume of US$5.9 million by 2028. The Refrigerators eCommerce market is a sub-market of the Household Appliances market. Further categories within the Household Appliances market are: Cookers & Ovens, Dishwashers, Other Household Appliances, Small Kitchen Appliances, Vacuum Cleaners, and Washing Machines.

eCommerce revenue development in the Refrigerators market in Nicaragua

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 Refrigerators market in Nicaragua

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 %)59.178.377.531.779.259.760.983.3

Online share

eCommerce online share of the total Refrigerators market in Nicaragua

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 Nicaraguan Refrigerators retail market, the online share is 22.1% and will increase by an average of 10.2% to 32.6% by 2028.

eCommerce online share of the total Refrigerators market in Nicaragua

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)23.3%77.6%92.2%26.0%87.2%71.9%88.0%73.1%

Market definition

Definition of the Refrigerators market within the Electronics market

Market definition: Electronics > Electrical Appliances > Household Appliances > Refrigerators The category Refrigerators includes the online trade of french door refrigerators, top-freezer refrigerators, bottom-freezer refrigerators, and more. This category does not cover freezers and commercial and industrial refrigerators. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • French door refrigerators
  • Top-freezer refrigerators
  • Bottom-freezer refrigerators
  • Side-by-side refrigerators
  • Counter-depth refrigerators
  • Compact refrigerators
  • Wine refrigerators and beverage centers

Out-of-scope

  • Freezers
  • Commercial and industrial refrigerators

Market comparison

The Nicaraguan Refrigerators market in a global comparison

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

in %

Source: ECDB analysis

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