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In 2022, e-commerce sales in Colombia generated more than ** trillion Colombian pesos (nearly **** billion U.S. dollars, based on conversion rates for December 31, 2022). That is an increase of about ** percent compared to the ** trillion pesos recorded in 2021, considering both the purchases made and paid for online.

The product of a perfect storm

Colombia's fast-growing internet penetration over the past few years has been a key element in the evolution of the country's e-commerce market, but certainly not the only one. Both the diversification of devices enabling online shopping and an increase in the banked population have made e-commerce an accessible and attractive option for many buyers in the South American country. Ultimately, Colombia's consolidation of e-commerce in recent years has positioned it as the fourth largest revenue generating Latin American economy in this activity.

Mercado Libre: leading the pack

An increasing number of brands and retailers compete to attract visitors to their e-commerce sites. However, Argentina-based marketplace Mercado Libre is hands-down the most popular online shopping and selling site in Colombia, receiving more than *** million visits per month in 2021. This figure is almost times higher than that recorded by second-place Amazon. In addition to leading the way on the web, Mercado Libre also stands out as the most used mobile shopping app among Colombians, ahead of the application of local retailer Éxito and the apps of Chile's Linio and Falabella.