Digital Consumer in Colombia

Rising digital penetration and digital development present positive scenario

Towards the end of the review period, intense growth was registered in the numbers of Colombian people engaging with the digital landscape. With two-thirds of Colombians now regular internet users and with just under half of the country’s overall population regularly using mobile devices to access the internet, the user base for the digital landscape and the consumer audience for digital commerce has now reached a very acceptable critical mass and continues to expand.

Social media remains a major part of the digital lives of many Colombians

During 2019, social media continued to play a major role in the lives of very many Colombians. In particular, social media platforms such as Facebook, Instagram and YouTube are coming more influential by shaping the ways in which consumers search for and research products and services online.

Digital commerce growing strongly as well-known brands benefit the most

The strong growth seen in digital commerce in Colombia over the course of the review period was accounted for mainly by companies and brands that already have a strong public profile among the country’s mainstream consumers. Colombian people tend to be quite conservative when it comes to engaging with digital commerce and there are several practical reasons for this.

Digital wallets surge as proximity digital commerce begins to take off

One major trend in Colombia’s digital consumer market towards the end of the review period was the proliferation seen in payment apps and digital wallets. The background to the arrival of these potentially very useful and powerful payment tools is that there are very many unbanked and underbanked people among Colombia’s overall population.

Inclusion of micro enterprises and small business the next major challenge

Colombia’s digital consumer market is expected to continue developing strongly over the forecast period. However, with major players and well-known brands having already achieved high levels of penetration in the digital space, the challenge for the country’s digital consumer stakeholders is to extend participation in the digital consumer market to the innumerable microenterprises and small businesses that comprise a significant proportion of Colombia’s overall economy.

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