Colombia E-Commerce Market: Growth and Opportunities for U.S. SMEs

E-commerce growth in Colombia is presenting significant opportunities for U.S. SMEs.  Between 2024 and 2025, there has been considerable expansion in the Colombian e-commerce market, with a notable increase in online sales and digital transactions. This growth is supported by a high adoption of internet and mobile devices, as well as a growing preference for online shopping. 

Related: Why You Should Expand Your U.S. E-commerce Business to Colombia

Here's an overview of the key trends:

2024 E-commerce Growth:

• Cross-referenced data reveals a US$52 billion market in 2024, expanding at a 16% CAGR (compound annual growth rate), per PMI.

  • Quarterly transaction data from Colombia's Chamber of E-Commerce (CCCE) shows 35.3% YoY Q3 2024 sales growth to COP $27.5 trillion, per América Retail

• Colombia was the third-largest e-commerce market in Latin America, per PMI, representing 6% of total online sales in the region.

  • The average online spending per purchase is estimated at US$38, with an estimated annual per capita expenditure of US$812.

Colombia presents great opportunities for e-commerce SMEs

2025-2027 Forecasts:

• PCMI's 16% CAGR implies a 63% four-year e-commerce expansion through 2027.

• For the first half of 2025, online sales are projected to reach COP $41.9 trillion, representing a 10.5% increase compared to the same period in the previous year. 

• For Q3 2025, an estimated 132.4 million transactions are expected to be recorded, marking a 23.4% increase compared to Q3 2023.

Purchasing Trends

• Apparel dominates 28.35% of online stores, followed by Beauty & Fitness (9.92%) and Home & Garden (9.86%), per AfterShip.

• Technology products lead sales at 22.4% category share, with 12.8% from general retail., per América Retail.

Platform Optimization

• Shopify stores generate $151.85M monthly despite lower market share. WooCommerce hosts 42.55% of Colombian stores (25.82K) vs. Shopify's 35.21% (21.37K), per AfterShip

• Mercado Libre's 34.3 million 2023 visits demonstrate marketplace dominance.

• AI-driven customization improves 38% conversion rates in pilot SME implementations, per América Retail.

• VTEX processes 45.52% of platform sales ($3.48B), outperforming Custom Cart (26.43%) and Magento (12.27%), per AfterShip.

Opportunities for International SMEs:

• Expanding Market: Colombia offers a constantly growing e-commerce market, providing opportunities for new companies.

• Technology Adoption: High rates of mobile device and social media adoption create a favorable e-commerce environment.

• Payment Preferences: Colombians prefer credit and debit cards, along with digital payment options such as PayU and cash on delivery (COD).

• E-commerce Platforms: Platforms like Shopify facilitate the creation and management of online stores, allowing SMEs to leverage marketing and analysis tools to improve their market presence.

• Personalization: Personalization is crucial in Colombia, where 66% of consumers research brands on social media. AI tools can help tailor shopping experiences to each customer's preferences and needs.

• Logistics: SMEs need to focus on efficient logistics, especially last-mile delivery, which is crucial for meeting consumer expectations.

Risk-Adjusted Recommendations

1. Market Prioritization: Focus on Bogotá (46% sales share) and Antioquia (22%) while monitoring 13.8% overall retail growth.

2. Technology Stack: Leverage WooCommerce for cost efficiency vs. VTEX for enterprise-scale operations.

3. Regulatory Compliance: Allocate 9–12% of operational budgets for DIAN tax compliance and consumer protection protocols, per ICEX 

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Conclusion

Colombia's e-commerce market is experiencing rapid growth, making it an attractive destination for international SMEs looking to expand their digital footprint. The growth figures align with the expected increases in a maturing yet rapidly developing e-commerce landscape. With high mobile and social media usage driving consumer engagement, businesses must focus on personalization and efficient logistics to meet evolving customer expectations. Platforms like Shopify can play a crucial role in helping these companies establish and manage online stores effectively in Colombia, thereby tapping into a vibrant and expanding market. Overall, this comprehensive overview highlights how the convergence of strong technological adoption and consumer demand creates a fertile environment for international SMEs to thrive.

Note: Figures were culled from PMI, América Retail, ICEX, industry reports, and verified using Perplexity Deep Research.