New Retailing market report from Euromonitor International: "Internet Retailing in Peru"
Boston, MA -- (SBWIRE) -- 01/21/2015 -- Peru stands as one of the countries in Latin America with the lowest per capita expenditure on Internet retailing. This scenario can be explained by three main reasons. On one hand, there is a lack of tradition of shopping online in Peru, as consumers prefer to see the product and ask sales staff questions before taking the purchasing decision. Secondly, there is still an important part of the population who do not trust online transactions as they are concerned with identity theft and phishing. Thirdly, low- and lower-middle-income segments still have very low access to credit cards, the main payment method within online retailing. Nevertheless, the Commerce Chamber of Lima organises two special events through the year, Cyber Peru and Cyber Monday, in July and November respectively. The aim is to raise awareness of the benefits of shopping online while offering very aggressive discounts during these dates. In addition, well known bricks and mortar retailers, such as department stores, are increasing their portfolio of products offered through this channel at attractive prices in order to appeal to more consumers. As a result, Internet retailing experienced 18% growth in current value terms in 2014.
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Amazon.com continues to lead sales on this channel, with a 27% value share in 2014. The company benefits from an extensive range of products, good customer service and an excellent reputation. In second and third places respectively at the end of the review period were Saga Falabella and Apple, both holding value shares of around 10%. In the case of the former it benefits from carrying a wider range of products online versus in stores. In the case of Saga Falabella, the company continues to strongly invest in updating its line of products offered online and tries to attract consumers with frequent and advantageous discounts and promotions of limited time, when purchasing online. Due to these strategies, Falabella achieved an increase in its value share of three percentage points in 2014.
Internet retailing will continue to thrive in Peru, with an expected constant value CAGR of 13% over the forecast period. This channel will be favoured by more players entering the category, current players widening their offering as well as local consumers gaining access to credit cards, improving their trust in online payments and rising Internet penetration among households.
Discover the latest market trends and uncover sources of future market growth for the Internet Retailing industry in Peru with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Internet Retailing industry in Peru, our research will save you time and money while empowering you to make informed, profitable decisions.
The Internet Retailing in Peru market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- Who are the leading retailers in Peru?
- How quickly is internet retailing growing in Peru?
- What products are selling best over the internet?
- Which internet sites are attracting the most sales?
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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