The remarkable growth of e-commerce in Peru

E-commerce has become a regular part of the daily lives of many Peruvian consumers.

Today, electronic commerce, also known as e-commerce, has become a crucial tool for business expansion and a must-have strategy in this age of complete digitalization. Businesses view this avenue as essential for widening their reach and connecting with their target audience in the most efficient manner possible.

THE PERUVIAN CASE

With over 35 million people, connectivity continues to rise in Peru, with 90.4 % of the population now having access to the internet, be it through fixed connections or mobile networks. These findings come from the Residential Survey of Telecommunications Services (Erestel), conducted by the Supervisory Agency for Private Investment in Telecommunications (OSIPTEL). Essentially, this means that 9 out of 10 households in Peru have Internet access. Consequently, Peru stands out as one of the leading users of the "network of networks" in Latin America.

In this scenario, the e-commerce scene in Peru is thriving. According to the Digital Transformation Center of the Lima Chamber of Commerce, by 2024, e-commerce is expected to generate USD 23 billion in economic activity. This marks a significant 15 % increase compared to the previous year, where it hit USD 20 billion.

Photography: PROMPERÚ

THE CYBER IMPULSE

Given the relative stability in both economic and political realms, along with the ongoing influence of Cyber campaigns and various other significant events in the Peruvian online business scene, it's anticipated that e-commerce in Peru will thrive in the upcoming years.

Likewise, as per the projections from the head of the Digital Transformation Center at the Lima Chamber of Commerce, it is anticipated that the average monthly spending on digital purchases by Peruvian consumers will see a 20 % increase compared to 2023. This surge could mean monthly expenditures ranging from PEN 500 to PEN 750.

WHAT IS THE PROFILE OF DIGITAL CONSUMERS IN PERU?

The Payments and Commerce Market Intelligence (PCMI) portal has identified key aspects of Peruvian buyer behavior, including:

When it comes to spending, the typical online consumer in our country spends about USD 741 on digital purchases. Meanwhile, data from the Peruvian Chamber of Electronic Commerce (CAPECE) shows that consumer spends an average of PEN 230 per purchase.

The organization also highlights that 64 % of Peruvian shoppers are classified as "sporadic," meaning they make an average of four transactions per month. Additionally, Peruvian online buyers typically fall between the ages of 25 and 34.

To add to this, it is important to note that 64 % of purchases come from mobile devices, with the remaining 36 % coming from desktop computers.

Photography: PROMPERÚ

THINGS YOU NEED TO KNOW

In 2023, nearly 30 million Peruvians made online purchases, marking a 30 % increase from the year before, in 2022.

Certainly, e-commerce in Peru is booming, showing consistent growth over the past few years. The increasing embrace of online shopping by Peruvian consumers reflects a significant shift in purchasing behavior, driven by the convenience, diverse product selections, and efficiency of online retail.