In Ecommerce, Payments

❇️ The Payments Practice at AMI has evolved into Payments and Commerce Market Intelligence (PCMI), a consultancy specializing in global payments. For the latest 2024 e-commerce data on Latin America, please visit their website here: Data Portrait of Latin America.

Chile is one of the most advanced e-commerce markets in Latin America, with consumers spending up to US$1,500 annually in online purchases, according to Payments and Commerce Market Intelligence (PCMI), AMI’s affiliate specializing in global payments. Additionally, in 2022, e-commerce accounted for 10% of Peru’s GDP.

Below we’ll be sharing data from a variety of sources, including PCMI. In addition, as a complement to this article, please feel free to explore our Infographic: How Chileans Buy Online.

Chile is the country with the highest per capita e-commerce expenditure, equivalent to US$1,500 a year.

Payments and Commerce Market Intelligence

Chilean E-commerce Market Overview

According to the Cámara de Comercio de Santiago (CCS), retail e-commerce in Chile dipped by 13% in 2022. The organization indicated that inflation, hikes in interest rates and Chileans returning to brick-and-mortar retail all played a role in this drop. That said, CCS does forecast a modest 5% increase in e-commerce in Chile during 2023.

PCMI uses a proprietary methodology to calculate market size, working in all merchant verticals, PC, mobile and in-app purchases, cross-border e-commerce transactions using a locally issued card and all card-not-present transactions, such as recurring payments. As such, its analysis of Chile’s ecommerce market features more robust figures.

PCMI analysis indicates that in 2022 the e-commerce market in Chile posted US$29.4 billion in sales.

Chile E-commerce Projections

According to Payments and Commerce Market Intelligence, the e-commerce market in Chile will grow by 16% in 2023 to reach a volume of US$34.1 billion.

In addition, between 2023 and 2026, the e-commerce market in Chile will grow with a CAGR of 18% to reach US$56.3 billion, according to PCMI analysis.

The Best-Selling E-Commerce Products in Chile

According to Statista, the top-selling e-commerce products in Chile in 2022 were:

  1. Apparel
  2. Footwear
  3. Consumer electronics
  4. Handbags and accessories
  5. Appliances
  6. Accessories
  7. Cosmetics and personal care
  8. Foods and beverages (not including food deliveries)
  9. Medicines and health products
  10. Furniture and home décor

The CCS reported similar figures but they did not position products in terms of sales. Instead, the organization focused more on market shares of different product categories. Here’s a look at the top categories in market share:

  1. Clothing (46%)
  2. Footwear (30%)
  3. Food (25%)
  4. Technology (24%)
  5. Beauty and personal care (21%)

Main Payment Methods Used in E-Commerce in Chile

According to The Global Payments Report 2023, the most common payment methods used for e-commerce in Chile in 2022 were:

  1. Credit cards (30%)
  2. Debit cards (29%)
  3. Digital wallets (18%)
  4. Account-to-account (15%)
  5. PostPay (3%)
  6. Cash on delivery (2%)
  7. Buy Now Pay Later (1%)
  8. Prepaid cards (1%)

According to PCMI, these are the most important payment methods for e-commerce in Chile in 2023 in terms of their share:

  1. Internationally-enabled credit cards (56%)
  2. Debit cards (16%)
  3. Bank transfers (13%)
  4. Digital wallets (7%)
  5. Domestic-only credit cards (3%)
  6. Cash vouchers (3%)
  7. Other* (3%)

*Includes gift cards, cash-on-delivery, direct carrier billing, and other miscellaneous payment methods.


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Main Devices Used for E-Commerce Purchases in Chile

According to PCMI:

  • In 2022, 42% of e-commerce purchases in Chile were made with a desktop computer
  • In 2022, 58% of e-commerce purchases in Chile were made with a mobile device

Also, according to Payments and Commerce Market Intelligence:

  • 60% of e-commerce purchases in Chile in 2023 will be made with mobile devices
  • 40% of e-commerce purchases in Chile in 2023 will be made with a desktop

Customer Insights into Chilean E-Commerce Shoppers

According to CCS reports, these are some key factors about the e-commerce landscape in Chile that we should take into account:

  • Electronic commerce in Chile remains at a high threshold of satisfaction. In March 2022, 85% of users rated their first shopping experience as good or very good.
  • Sustainability is not yet a decisive factor in the success of brands that sell online. In the first quarter of 2022, only 14% of users declared looking at environmental responsibility as a decisive attribute for their purchase. However, concern about sustainability has increased since 2021.
  • Big retailers and supermarkets have the largest number of online shoppers in Chile, followed y international online stores and specialty online stores. A smaller percentage of customers use social media, delivery apps and marketplaces to buy online.

And according to a recent BlackSip report:

  • Mobile purchases are projected to grow in Chile. As so, there will be a need for specific marketing strategies according to each device or channel.

  • There are two potential types of consumers in Chile: the omnichannel consumer, who looks for seamlessly shopping experiences and products with added value, and the saver customer, who is eager to look for discounts and “experience DIY to its maximum”.

  • Mobile commerce will be the preferred system for buying online, mostly used by young people.

Going Further

#1 PCMI’s LatAm E-Commerce Data Library contains extensive data on Chile. Click here to find out how to order a copy.

#2 For more specific data, PCMI specializes in research and market intelligence for the Chilean and LatAm e-commerce markets in a number of key areas:

  • Identifying the major payment methods used in Chile’s e-commerce market to help merchants with strategic planning, market entry and market expansion
  • Helping merchants understand the cross-border e-commerce potential in Chile and the practices that can increase cross-border sales
  • Using artificial intelligence and machine learning to help e-commerce merchants focused on Chile to analyze their customer data for a deeper understanding of e-commerce shopper behavior and tendencies so as to refine their marketing tactics, messaging and consumer outreach

Contact PCMI if your company has specific data, market research or market intelligence needs regarding the e-commerce market in Latin America or in specific markets such as Chile, Mexico, Argentina, Brazil, Colombia and Peru.

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