According to MarkNtel Advisors study the Peru E-Commerce Market is valued at around USD 15.3 billion in 2023 and it is estimated to grow at a CAGR of about 26.5% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Peru E-Commerce market
Peru E-Commerce Market Driver:
Rising Internet Accessibility Fuels Growth in Peru's E-Commerce Sector– The surge in internet accessibility has been a pivotal driver fuelling the remarkable growth of Peru's e-commerce market in recent years. The expanding availability of the Internet has triggered a significant shift in consumer behavior. With more people gaining access to online platforms, Peruvian consumers are increasingly drawn to the convenience and diversity of options that e-commerce provides. For instance,
- In 2022, according to the Peruvian Chamber of Electronic Commerce, internet penetration across Peru has increased to 76% in 2021, from 58% in 2019.
This shift has led to the rapid expansion of Peru's online audience, significantly enlarging the customer base for e-commerce businesses. In addition to the increased audience, improved digital infrastructure is also effectively attracting a significant number of consumers to explore, browse, and make purchases in the digital realm. Therefore, along with the improvement in internet penetration, the improved digital infrastructure would also become a catalyst for the ongoing evolution and robust growth of the e-commerce market in Peru.
Peru E-Commerce Market Challenge:
Logistical Challenges in the Peru E-Commerce Market Presenting a Significant Hurdle for Business Operations – Logistical challenges in the Peru E-Commerce Market had a significant hurdle for businesses operating in the country. Peru's diverse geography, which includes rugged mountainous terrain, dense Amazon rainforests, and remote rural areas posed a formidable logistical challenge. The complex topography and lack of developed infrastructure in some regions have led to delays and increased costs associated with the transportation and delivery of goods. Also, e-commerce companies have received a significant volume of complaints from consumers which have been mostly related to logistics. For instance,
- In 2022, at the Peruvian Chamber of Electronic Commerce, approximately half of the complaints and grievances filed with Indecopi regarding electronic commerce are attributed to shipping issues and delays in the timely delivery of orders.
Peru's diverse geography, including the Andes Mountains and the Amazon rainforest, poses difficulties for timely and cost-effective deliveries. Hence, this has been affecting the trust of consumers living in remote areas in the e-commerce platforms, which has been ultimately affecting the market growth. Therefore, effective last-mile delivery solutions are crucial to guarantee, punctual and economical deliveries; otherwise, the persistent logistics challenges will continue to impact the market's expansion.
For more detailed information about the Peru E-Commerce market report, click here – https://www.marknteladvisors.com/research-library/peru-e-commerce-market.html
Scope of the Report and Peru E-Commerce Market Segmentation:
By Product Type
- Consumer Electronics- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Apparel and Fashion- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Home and Furniture-Market Size & Forecast 2019-2030, Revenues (USD Million)
- Food and Groceries-Market Size & Forecast 2019-2030, Revenues (USD Million)
- Others (Beauty & Wellness, Pharmaceutical Products, etc.)- Market Size & Forecast 2019-2030, Revenues (USD Million)
By Payment Mode
- Cash Payment- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Card Payment- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Digital Wallet- Market Size & Forecast 2019-2030, Revenues (USD Million)
By Business Model
- Horizontal E-commerce- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Vertical E-commerce- Market Size & Forecast 2019-2030, Revenues (USD Million)
By Browsing Method
- App-based- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Website-based- Market Size & Forecast 2019-2030, Revenues (USD Million)
By Transaction
- Business-to-Business- Market Size & Forecast 2019-2030, Revenues (USD Million)
- Business-to-Consumer- Market Size & Forecast 2019-2030, Revenues (USD Million)
Traditionally, consumer electronics, especially smartphones, have held a significant share of the market.
Peru E-Commerce Market Competitive Landscape
- Linio International Marketplace
- Mercado Libre
- Amazon, Inc.
- Alibaba Group Holding Limited
- Platanitos
- Ripley
- Real Plaza
- Rosatel
- Falabella S.A.
- Diners Club Peru SA
- Others.
Peru E-Commerce Market Development:
- 2022: Falabella announced a substantial investment of USD 711 million, which will be allocated to the introduction of the integrated falabella.com platform and to bolster its logistics to augment order processing capacity, with a primary focus on its existing infrastructure in key markets such as Chile, Peru, and Colombia.
- 2022: Platanitos, a prominent women's shoe retailer, announced its plans for diversifying into the home appliance sector, leveraging its extensive network of stores across Peru.
Geographical Analysis:
By Region
- North
- South
- Central
Note: If you require specific information not covered in the current report, we can provide it through customized option
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