The purchase categories that grew the most online are airfare, virtual education, accommodation, and tickets to movies, theaters, and concerts.
The turnover of electronic commerce in Ecuador will amount to USD 4,000 million in 2022. It is an increase of 24% compared to 2021, when sales reached USD 3,220 million.
This according to the Ecuadorian Chamber of Electronic Commerce (CECE) which, together with the Universidad Espiritu Santo (UEES), presented a study on the evolution of e-commerce.
The report includes the analysis of information from the Superintendency of Banks and a survey of 4,000 people.
While electronic commerce transactions totaled USD 1,789 million between January and June 2022.
According to the study, turnover is higher in the second half of 2022, considering the increase in demand for the Black Friday and Christmas seasons, says Silvana Dakduk, associate researcher at the UEES Electronic Commerce Observatory.
Demand for services grows
Services are the purchase category that registers the greatest growth in terms of the use of digital channels, according to the study.
50% of those surveyed say that they buy air tickets, education services, accommodation and tickets for movies, theaters and concerts online.
This is an increase of seven percentage points compared to the period January-June 2021.
Other categories that register an increase in the number of purchases are:
- Personal property, such as clothing, footwear, and cosmetics.
- Home, comprising furniture and pet products and services.
- Health and medicine.
More clients, less frequency
There are more people who opt for the digital channel due to changes in habits after the Covid-19 pandemic.
While more people are shopping online, almost 50% of them have reduced the number of transactions they make online.
The phenomenon responds that people are also buying physically due to the relaxation of mobility and distancing restrictions.
Added to this is the increase in prices, which restricts people’s spending.
The price influences
Electronic commerce could grow more in Ecuador, but there are factors that prevent it.
One of them is inflation, which stood at 3.77%, which made the basic basket reach USD 754.17. It is the highest value within the historical record of the National Institute of Statistics and Censuses (INEC).
The increase in prices erodes the purchasing power of households, which buy cheaper products or reduce their spending through all channels.
Inflation has made the price of products or services, the cost of shipping, and promotions and discounts the factors that most influence when choosing the digital channel.
Access to technology
Another factor that limits the development of e-commerce in Ecuador is the lack of access to new technologies and the Internet.
Only 53.2% of households have Internet access , according to the National Institute of Statistics and Censuses (INEC). While in rural areas that percentage falls to 34.7%.
