Main Takeaways about Chile’s E-Commerce Market
Latest update: January 2024
Below we highlight some key data from our PCMI E-Commerce Data Library and other sources in order to offer financial services, marketing and ecommerce professionals a deeper understanding of Chile’s e-commerce market in 2024.
You can also read this piece in the form of an infographic report, available to download below. You can also check out our other country reports of LatAm by accessing our gallery.
Current State of E-commerce in Chile
Driven by our proprietary methodology, which includes transactional data to maximize accuracy, PCMI projects that overall e-commerce in Chile will grow with a compound annual growth rate (CAGR) of 18% between 2023-2026, reaching US$12 billion by 2026. In 2023, the Chilean e-commerce market reached a sales volume of US$7 billion.
Here is additional data to further track the dynamics of e-commerce in Chile:
- It is estimated that 50% of internet users in Chile are online buyers, according to the Santiago Chamber of Commerce (CCS as per the Spanish-language acronym). This is consistent with PCMI data, which indicates a 45% e-commerce penetration among the adult population of Chile.
- Despite this relatively short penetration, e-commerce in Chile has a significant contribution to retail sales. According to the CCS, 14% of retail sales in Chile comes from online purchases.
- According to PCMI data, the adult population in Chile boasts a 97% bank and fintech penetration. When comparing this to the country’s relatively low e-commerce penetration, there is an untapped potential for online sales.
Profiling the Chilean Online Buyer
While an overall picture is important, focusing on consumer behavior delivers a deeper understanding of the market drivers. In fact, even though there is low e-commerce penetration in Chile, there is a huge annual online spend, equivalent to US$1,735 per capita. This is even higher than the annual e-commerce spend in Brazil (US$1,269).
Here are some other essential data on online consumer behavior in Chile, according to the CCS:
- At least 63% of consumers in Chile use large retail stores such as Falabella, Lider, or Ripley to buy online.
- Three out of five online consumers in Chile use mobile apps for their purchases.
- The regular online buyer in Chile falls within the age range of 26 to 40 years.
Chile E-Commerce Payment Methods and Devices
According to PCMI’s E-commerce Data Library, the primary payment methods for e-commerce in Chile, by share of volume, are:
- Internationally-enabled credit card — 52%
- Domestic-only credit card — 24%
- Debit card — 13%
- Digital wallet — 7%
- Bank transfers — 2%
- Cash vouchers — 1%
- Other* — 1%
*Includes gift cards, pay-on-delivery, and other miscellaneous payment methods
It is also important to track device usage for e-commerce:
- 66% of e-commerce volume in Chile comes from purchases made with mobile devices
- 34% of e-commerce volume in Chile comes from purchases made with desktops
Top-Selling Categories and Leading Online Stores in Chile
Based on the percentage of consumers who purchase these products online, the following are the best-selling products in Chile, according to the CCS:
- Beauty and personal care
And these are the top e-commerce sites in Chile, based on net sales through the digital channel in 2022, according to ECDB data:
Key Insights into the Chilean E-commerce Market
Lastly, here are some key insights about e-commerce in Chile:
According to the CCS, the shopping experience is excellent, with only 7% of online consumers reporting problems in their online purchases.
According to PCMI data, domestic websites account for 44% of total e-commerce sales in Chile, while international stores contribute 56%. Cross-border e-commerce in Chile is clearly a significant sector and is expected to grow by 19% in 2024.
E-commerce in Chile contributes 9% to the country’s GDP.
The PCMI E-Commerce Data Library
While the data shared here can be helpful, both payments companies and ecommerce companies may benefit from a deeper dive into Chile’s e-commerce data, which they can obtain by acquiring the PCMI E-commerce Data Library for Latin America.
The Library covers not only Chile but also 14 other countries in Latin America, featuring e-commerce market data such as:
- Historical volume of Chile’s e-commerce market for 2022, 2021 and further back
- Projections of Chile’s e-commerce market volume for 2023-2026
- Breakdowns by merchant vertical for e-commerce in Chile: retail, travel, ride-hailing, digital goods and services like streaming
- Data on both cross-border and domestic e-commerce purchases in Chile for 2022 and projections for 2023 and beyond
- Breakdowns and projections of payment methods used in Chile e-commerce (international/domestic credit cards, Buy Now Pay Later, digital wallets, and others)
Other key advantages make the PCMI E-commerce Data Library for Latin America a uniquely powerful tool for companies that seek a fuller understanding of e-commerce in the region:
- It’s customizable to client needs: you can obtain additional data you need for your company’s specific business concerns, beyond what the Library offers
- It’s budget-friendly: while detailed reports are available for 15 Latin American countries, you can just buy data on just 1 or save money by purchasing a country bundle
- It includes personalized guidance: every purchase of the Library entitles you to a free 1-hour consultation about the data with one of PCMI’s industry experts
- It offers unlimited sharing: there is no single-user license with the PCMI E-commerce Data Library for Latin America, so you can share it freely with your organization