New Retailing market report from Euromonitor International: "Internet Retailing in Peru"
Boston, MA -- (SBWIRE) -- 06/11/2014 -- According to Euromonitor International's estimates, Peru ranked as the country with the third lowest per capita expenditure on internet retailing in 2013. This position was a result of several factors. A significant proportion of the population remained untrusting of online transactions, due to the risk of identity theft and phishing. A significant number of consumers also preferred to see products in retail outlets and ask questions of staff before making a purchase. In order to tackle this second challenge, starting in 2012, Lima Chamber of Commerce organised two special events, namely Cyber Peru, which was held over two days in July, and Cyber Monday, which was held over two days in November, in an attempt to raise consumer awareness of the benefits offered by online shopping. During these days, a number of companies offered aggressive discounts on various products when purchased online. These events encouraged a number of Peruvian consumers to try online shopping and become familiar with this method of purchasing.
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Amazon.com Inc remained the leading player in internet retailing in Peru in 2013, in accounting for a retail value sales share of 25%. The company benefitted from its excellent reputation and from carrying an extensive range of products. The multinational player Apple Inc followed on a retail value sales share of 10%. Apple offered consumers a wider portfolio of products online than through its retail stores.
Internet retailing sales are expected to see a constant value CAGR of 13% over the forecast period. While this represents a slowdown from the CAGR of 19% seen over the review period, it nonetheless represents very strong growth. This performance will be driven by increasing consumer trust in the channel, growing internet penetration, and more consumers gaining access to credit cards. Furthermore, more large brick and mortar retailers are likely to enter this channel, while those already present are expected to increase their presence further, which will help in appealing to middle and upper income Peruvian consumers seeking convenience. What is more, it is expected that the Lima Chamber of Commerce will continue to run campaigns to promote e-commerce in Peru, which will help in raising consumer awareness of the advantages of shopping online.
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.
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