Drilldown into Peru’s E-Commerce Market

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Article E-commerce Data Portrait Peru Blog post

Latest update: January 2024

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This article presents an overview of the e-commerce market in Peru, sharing data from our PCMI Latin America Data Library. Our proprietary methodology incorporates transactional information from local e-commerce industry stakeholders and interviews with e-commerce executives. For this article, we complemented our data with information from external sources curated by our team.

You can also read this piece as an infographic report, available for download below. Also, you might want to check out our other country reports of LatAm.

Cover PCMI Report E-commerce Data Portrait Peru 2024

Current State of E-commerce in Peru

Peru is the fastest-growing e-commerce market in Latin America. Our analyses forecast a robust CAGR of 35% between 2023 and 2026. In 2023, the Peruvian e-commerce market reached a volume of US$25 billion, and we anticipate further expansion to US$63 billion by 2026.

Peru, indeed, presents plenty of opportunities. According to PCMI data, only half (54%) of the adult population holds an account with a bank or fintech institution, and just 3 out of 5 adults (60%) currently engage in online purchases.

The retail sector in Peru has also room for growth, with online purchases constituting only to 8% of total retail sales, as per data from Statista Market Insights (2023).

Profiling the Peruvian Online Buyer

Profiling the Peruvian Online Buyer

While the above overall picture is important, focusing on the consumer behavior delivers a deeper understanding of the market drivers:

Spending. According to PCMI, the Peruvian e-commerce consumer spends US$741 annually. Furthermore, data from the Peruvian Chamber of Electronic Commerce (CAPECE) shows an average ticket of S/230 (US$60) for online purchases in Peru.

Frequency. 64% of online consumers in Peru are considered “sporadic”, meaning they make up to four digital transactions per month.

Age range. The typical online buyer in Peru belongs to the age group of 25-34 years old, constituting 43% of online buyers, as reported by BlackSip (2022).

Peru E-Commerce Payment Methods and Devices

Peru E-Commerce Payment Methods and Devices

According to PCMI’s E-commerce Data Library, the primary payment methods for e-commerce in Peru, by share of volume in 2023, are:

  1. Debit card — 45%
  2. Cash vouchers — 19%
  3. Internationally-enabled credit card — 18%
  4. Digital wallet — 11%
  5. Domestic-only credit card — 2%
  6. Bank transfers — 2%
  7. Other* — 2%

*Includes gift cards, pay-on-delivery, and other miscellaneous payment methods.

The total may not sum up to 100% due to rounding.

It is also important to track device usage for e-commerce shopping:

  • 64% of e-commerce volume in Peru comes from purchases made with mobile devices
  • 36% of e-commerce volume in Peru comes from purchases made with desktops
Top-Selling Categories and Leading Online Stores in Peru

Top-Selling Categories in Peru and Top Online Stores

This is the ranking of the best-selling products online in Peru:

  1. Industrial/B2B
  2. Music
  3. Books
  4. Accessories
  5. Pets

That rank is based on the sales growth in Q1 2023 vs Q1 2022, according to CAPECE (2023).

As for the ranking of the top e-commerce websites in Peru, Falabella claims the top spot, followed by Mercado Libre, Linio, Ripley, and Sodimac. This ranking is determined by net sales through the digital channel in 2022, according to ECDB.

Key Insights Ecommerce into Peruvian E-commerce Market

Key Insights into the Peruvian E-commerce Market

Lastly, there are some key insights about e-commerce and payments in Peru:

Peru will experience the highest growth in e-commerce in Latin America, with a forecasted 35% increase between 2023 and 2026, according to PCMI.

Cash payment remains dominant, as exemplified by representatives such as PagoEfectivo.

Domestic stores in Peru currently account for 77% of total e-commerce sales, with a projected growth of 34% in 2024.

In contrast, cross-border e-commerce is expected to increase by 33% in 2024.

E-commerce in Peru makes an impressive contribution of 10% to the country’s GDP.

Next Step:

The PCMI E-Commerce Data Library

The data provided in this report is part of PCMI’s Latin America E-commerce Data Library. The Library covers not only Peru but also 14 other countries in Latin America, featuring e-commerce market data such as:

  • Historical volume of Peru’s e-commerce market for 2022, 2021 and further back

  • Projections of Peru’s e-commerce market volume for 2023-2026

  • Breakdowns by merchant vertical for e-commerce in Peru: retail, travel, ride-hailing, digital goods and services like streaming

  • Data on both cross-border and domestic e-commerce purchases in Peru for 2022 and projections for 2023 and beyond

  • Breakdowns and projections of payment methods used in Peru 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

Keep up to date with our e-commerce, payments and crypto insights:

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PCMI
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Payments and Commerce Market Intelligence (PCMI) is a strategy consultancy specializing in the global payments industry.

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