Homeshopping has been significantly impacted by the expansion of e-commerce in recent years, as online shopping also provides consumers with the convenience of ordering from home and having products delivered, but offers access to a broader range of products at competitive prices. This has led homeshopping players to move towards the development of multi-channel operating models that also incorporate e-commerce and brick-and-mortar stores.
As well as suffering from the dynamic expansion of formal e-commerce, homeshopping has been negatively impacted by the increase in informal vendors selling products via social media. Homeshopping businesses have been unable to maintain the channel exclusivity of their products, with efforts to promote products through expensive TV commercial time favouring informal sellers of the same product.
The main reason why homeshopping still exists in Colombia is a combination of nostalgia and some consumers being distrusting of or unaccustomed to e-commerce. Older consumers who grew up with homeshopping and are not comfortable using the internet form the audience of homeshopping companies.
The trends seen during the COVID-19 crisis represented the enhancement of longer-term developments, which presents a challenging outlook for the homeshopping channel. The programmes on which homeshopping companies advertise have a low and declining audience, as consumers choose to get their entertainment via options such as social media and streaming services that provide them with greater control over content and consumption.
The increasing competition from e-commerce is exacerbating the negative impact of homeshopping’s poor reputation, which has developed over many years and leads consumers to seriously question the effectiveness, quality and price of products. This consumer distrust means that even if products are capable of reaching a large audience they achieve a low conversion rate.
While homeshopping faces serious long-term challenges, homeshopping players are in a unique position to transition to e-commerce. The demands of homeshopping provides these companies with the logistical experience to simplify the transfer to e-commerce, either through their own online stores or through business-to-business (B2B) services for aspiring or established online retailers.
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Understand the latest market trends and future growth opportunities for the Homeshopping industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Homeshopping industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Homeshopping is the sale of consumer goods to the general public via mail order catalogues, TV shopping and direct mail. Consumers purchase goods in direct response to an advertisement or promotion through a mail item, printed catalogue, TV shopping programme, or Internet catalogue whereby the order is placed and payment is made by phone, by post or through other media such as digital TV. Excludes sales on returned products/unpaid invoices. Excludes sales ordered and paid online which are instead included within Internet retailing. Example brands include Otto, Neckermann, QVC.See All of Our Definitions
This report originates from Passport, our Homeshopping research and analysis database.
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