E-commerce and digitization is advancing at a safe pace in Peru. Solutions like Yape are currently stimulating digital banking. Americas Market Intelligence (AMI) analyses estimate that each person in Peru spends, on average, US$594 per year on electronic commerce, vs. the LatAm average of US$473. E-commerce spending in Peru actually represents 13% of personal private consumption. In contrast, other LatAm economies have a lower share of e-commerce spending per capita, such as: Colombia with 10%, Chile (9%), Argentina (7%), and Mexico (7%).
See below for an overview of e-commerce data in Peru. You may also read: Infographic: How Peruvians Buy Online.
Peru E-Commerce Market Overview
Last report by Cámara Peruana de Comercio Electrónico (CAPECE) indicates that e-commerce sales in Peru reached US$9,3 billion in 2021, a 55% increase over 2020. According to the report, “since the new normal, e-commerce [in Peru] has evolved. Before the pandemic, e-commerce represented 12.5% share of card transactions, and today it represents 45%.”
At Americas Market Intelligence (AMI), we use a different methodology than CAPECE to calculate market size, working 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, AMI analysis indicates that in 2021, the e-commerce market in Peru posted slightly more than US$13 billion in sales, a 91% increase over 2020.
Projections for E-commerce in Peru
AMI projects that e-commerce in Peru will grow by 53% in 2022 to reach US$20 billion.
Also, according to AMI analysis, e-commerce market in Peru will grow by 21% between 2021 and 2025. By 2025, e-commerce volume in Peru will be US$27.8 billion.
The Top-Selling Products in Peru’s E-commerce Market
CAPECE report highlights the growth of online sales in different categories over 2021 (Kushki data). Department Stores went up to 72% in 2021; Restaurants, 92%; Supermarket, 75%. In contrast, the categories that have not yet recovered (when comparing their sales volume in 2021 over 2019—pre-pandemic) are Accommodation (-4%), Airline tickets (-17%), Tourism (-20%), and Entertainment (-28%).
It’s important to note that CAPECE shows different sources regarding the best-selling articles or categories for e-commerce, always in terms of growth. From all these sources, the following products stand out with the greatest increase in online sales in Peru during 2021:
- Fashion (81% growth)
- Home appliances (76% growth)
- Technology (84% growth)
- Household items (33% growth)
- Food and beverages (30% growth)
- Jewelry (30% growth)
On the other hand, the firm ecommerceDB breaks down the most important e-commerce products in Peru based on their respective shares of overall revenue:
- Furniture & Appliances (23%)
- Toys, Hobby & DIY (21%)
- Electronics & Media (19%)
- Food & Personal Care (19%)
- Fashion with the remaining (18%)
The Main Payment Methods Used in E-Commerce in Peru
The CAPECE report breaks down the e-commerce payments methods in terms of market volume share during 2021:
- 34.5% of payments were made with a credit card
- 33.3% of payments were made with a debit card
- 21.5% of payments were made with digital wallets
- 7.5% of payments were made with cash vouchers
- 3% of payments were made by bank transfer
Alternatively, The Global Payment Report by FIS also listed the most used payment methods for online sales in Peru 2021:
- Credit cards (40%)
- Debit cards (20%)
- Cash on delivery (12%)
- Postpaid (10%)
- Bank transfers (9%)
- Digital wallets (9%)
- Other (1%)
- Direct debit (1%)
According to AMI’s E-commerce Data Library, the most common payment methods used for e-commerce shopping in Peru 2021 were:
- Credit cards (34%)
- Debit cards (27%)
- Cash vouchers (18%)
- Wallets (13%)
- Others* (5%)
- Bank transfers (3%)
*Includes gift cards, cash-on-delivery, direct carrier billing, and other miscellaneous payment methods.
Main Devices Used for E-Commerce Purchases in Peru
CAPECE shows the mobile and desktop penetration among Peru’s population, which of course has a great impact on e-commerce: 91.4% of the Peruvian population have smartphones, 37.7% have PC, 27.4% have laptops, and 12.5% have tablets.
According to this entity, 75% of traffic to e-commerce websites comes from mobile devices, although the purchase could be made on a desktop or laptop at the end. CAPECE estimates that 60% of online payments are made through mobile devices.
AMI uses a methodology based on transactional data to determine the devices used to make online purchases in Peru.
- In 2021, 56% of online purchases in Peru were made through a mobile device
- In 2021, 44% of online purchases in Peru were made through a desktop
According to AMI’s projections, in 2022 those percentages will go as follow:
- In 2022, 59% of online purchases in Peru will be made with a mobile device
- In 2022, 41% of online sales in Peru will be made with a desktop
Factors Limiting E-Commerce Growth in Peru
CAPECE highlights the following factors as challenging for e-commerce development in Peru, according to an analysis of problems and consultations made to Indecopi, a regulatory entity:
Problems when choosing a product and hitting the buy button
- 46% of problems reported during this stage of the online shopping journey were related to platforms’ inability to process a purchase, and 43% were related to misleading advertising.
- Fraud is a limiting factor. “During the CYBER event in July 2021 there were 302,744 offers published by stores, but only 22% of them were true.”
Problems with delivery and logistics
Logistics is CRITIC, as 50% of Indecopi records were related to this stage of the online consumer journey. Of those:
- 45% were related to products that never reached their destiny
- 31% were related to the cancellation of a purchase
Attention to claims and other requests
- Indecopi records show that 46% of claims were related to purchases that were not reimbursed
- 28% of problems were related to products came in bad conditions
#1 Our LatAm E-Commerce Data Library contains extensive data on Peru. Click here to find out how to order a copy.
#2 For more specific data, AMI specializes in research and market intelligence for the Peruvian and LatAm e-commerce markets in a number of key areas:
- Identifying the major payment methods used in Peru’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 Peru and the practices that can increase cross-border sales
- Using artificial intelligence and machine learning to help e-commerce merchants focused on Peru 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