E-commerce business in Peru grew 198% in the last two years
According to the Peruvian Chamber of Electronic Commerce (Cámara Peruana de Comercio Electrónico - Capece), the exponential increase represented sales of US$ 2,800 billion in 2016.
The surprising growth reported by different important and respected institutions such as BBVA Peru and Capece describes an exciting future for digital entrepreneurs in Peru. Deep changes in governmental policies, lower taxes, better internet penetration and the development of new tools to protect online transactions are the main reasons for this e-commerce euphoria.
With more than 12.5 million internet users, 8.6 million are online shoppers and they buy via mobile devices (smartphones and tablets) and 3.6 million of them purchase via desktops. Being aware of this consumption behavior is important for e-commerce companies design their strategies and marketing campaigns. Offering digital protection tools during e-commerce transactions is another key factor to promote business. Capece experts believe that new policies focused in consumer’s safety will make the digital experience safer and encourage people to buy more in a brief future.
Considering that 90% of connected Peruvian adults already made online purchases, a growth of 55% is expected to be made by smartphones and tablets. As for desktop users, it can increase 30% until 2020. Another important fact is learning their shopping behavior. For example, according to BBVA Peru research, 29% of millennials buy online to save time, and other 27% state that buying online saves money.
Talking about young shoppers is important because they represent a high percentage of population with particular preferences about internet and e-commerce uses. Almost 55% of them are under the age of 30 (77% of individuals aged 18-25), preferring buying accessories and applications (38%), technology (30%) and clothing and footwear (30%) on internet. The optimism is reinforced when the growth of internet access/penetration can reach 10% every year, which represents a real paradise for international and national ecommerce companies.
In order to enhance the growth and make it bigger, Peru has important issues that need to be taken into account when we look into the future. The development of better logistics to reduce shipping times and the enablement of order tracking are some of the points that need to be improved in the country. With better services and safer policies for online sales/purchases, the reluctance to provide bank details and a fear of receiving a product that is defective or different from what is advertised will diminish with time.
In order to take advantage of this potential market, a partner with local expertise is crucial. With BoaCompra local payments and cash vouchers (one of the most important payment options in the country) can be processed easily and assured by safety protocols and no bureaucracy.
With BoaCompra your business can:
- Work with cash options with more than 35,000 points of sales and bank transfers with more than 11 local banks.
- Accept more than 21 different local payment methods.
- Avoid dealing with local taxes and additional fees.
- Sell in Peru without a local bank account or company registration and get paid anywhere in the world.
- Integrate services across all markets served by BoaCompra without any additional cross-border surcharges.
Sources: export.gov; BBVA Peru, Peruvian Chamber of Electronic Commerce