The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2020
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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.
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.
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.
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.
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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Overview
Explore how technology is forever altering the ways that consumers conduct commerce in the digital era in Colombia with research from Euromonitor’s team of in-country analysts.
Gain a holistic view of the digital consumer across a variety of industries in order to discover new market opportunities, keep pace with innovation and stay connected to your consumers.
If you are in consumer-facing industries, our research will save you time and money by empowering you to make informed, strategic and profitable business decisions.
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This report originates from our Digital Consumer market research database.
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.