❇️ 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.
Electronic commerce in Colombia is growing at a steady rate, although it has lost the momentum it seemed to have gained from the pandemic. During 2019, the volume of Colombian e-commerce grew by 29%—a higher percentage than that of countries like Mexico (18%) and Brazil (21%)—according to transactional data from Americas Market Intelligence (AMI). However, in 2021, Colombia’s year-on-year e-commerce growth was 20%. By contrast, Mexico saw its volume of e-commerce grow by 33% in 2021, and Brazil saw 38% growth, according to AMI.
Even so, the Colombian e-commerce market does have some significant milestones: the first Día sin IVA (VAT-Free Day) of 2022 achieved online sales of US$184 million in just 24 hours, beating the average daily sales during Mexico’s Hot Sale. Colombia has also hosted events such as eCommerce Day and the Open Banking Exchange. Colombia is currently competing with Argentina for third place as the largest e-commerce market in LatAm after Brazil and Mexico.
At Americas Market Intelligence (AMI), we have prepared the following infographic summary on e-commerce payments in Colombia. Our infographic includes the payment methods most often used for online buying in Colombia, the contribution of e-commerce to the Country’s retail trade, the top online stores, and the top-selling products in Colombia, among other significant data.
Moving beyond these data
Contact us if you are interested in a more in-depth market study on e-commerce payments in Colombia, or other payment-related topics there and elsewhere in Latin America. Our personalized studies can help your company with strategic decision making, and to identify new opportunities in the market.