Although the market in Colombia is still in its infancy, it is still worth USD 1.07 billion in 2014, according to a report issued by Integration Consulting, together with Mercado Libre. Colombia currently has the fourth largest online audience in LATAM.
Additionally, the country’s ecommerce market is notable for most of its online consumers being aged between 25 and 35, which represents some 85% of the total audience. Also, these consumers make on average between one and three purchases a month.
Colombia still suffers from low credit card penetration and an electronic payment system which is considered to be generally inadequate. Ecommerce experts in the country are calling for the online trade ecosystem to be improved and matured, so as to respond to customer demand for increased purchases. They also want greater internet penetration and better security in order to improve the customer experience.
The report also highlighted the reasons why consumers are moving online which is headed by home delivery (23%), then the convenience of shopping at home (14%), followed by the convenience of open-all-hours and the ability to compare prices. The figures also showed that most purchases are made between June and December.
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