eCommerce

Puerto Rico

Highlights

Revenue in the eCommerce Market is projected to reach US$1.94bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.17%, resulting in a projected market volume of US$2.61bn by 2029.
With a projected market volume of US$1.47tn in 2024, most revenue is generated China.
In the eCommerce Market, the number of users is expected to amount to 387.7k users by 2029.
User penetration will be 9.3% in 2024 and is expected to hit 12.1% by 2029.
The average revenue per user (ARPU) is expected to amount to US$6.75k.

Key regions:

Definition:

eCommerce, short for electronic commerce, refers to the sale of physical goods via a digital channel to a private end consumer (B2C). This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets) through a website or mobile application. The eCommerce market includes businesses that operate solely online, as well as those that have a physical presence but also sell products or services online. eCommerce encompasses a wide range of industries, from retail and consumer goods to travel and hospitality, and is a rapidly growing segment of the global economy. The rise of eCommerce has enabled businesses to reach customers worldwide, increase sales, and offer new and innovative products and services.

Structure:

eCommerce consists of 14 different markets:

The Beverages market contains the sale of various types of beverages through digital channels which covers a wide range of products, such as beverages, including alcoholic and non-alcoholic drinks, tea, coffee, and energy drinks.
The Food market contains the sale of food-related products through digital channels to provide consumers with a convenient and accessible way to purchase groceries and specialty food items.
The Tobacco Products market comprises digital sales from cigarettes, cigars, e-cigarettes, and smoking tobacco.
The Household Essentials market includes the sale of products related to home care, laundry care, and household essentials through digital channels which covers a wide range of products such as dishwashing detergents, household cleaners, baby diapers, face masks, feminine hygiene or paper tissues.
The Beauty & Personal Care market includes online sales of products related to haircare, makeup, and fragrances.
The Fashion market includes the sale of clothing, shoes, and accessories through digital channels from a wide range of brands, designers, and retailers.
The Eyewear market includes online sales of contact lenses, eyewear frames, spectacle lenses, and sunglasses through digital channels.
The Electronics market comprises the sale of electronic devices, gadgets, and accessories through digital channels which includes products, such as smartphones, laptops, cameras, and smart home devices.
The Furniture market comprises the sale of furniture and home decor products through digital channels which covers a wide range of furniture products, including sofas, beds, chairs, and tables.
The OTC Pharmaceuticals market comprises a variety of personal health products sold online, such as analgesics, cold & cough remedies, digestives, vitamins, and supplements.
The Toys & Hobby market contains the sale of products related to hobbies and leisure activities through digital channels including toys, games, puzzles, model kits, and crafting supplies.
The Luxury Goods market refers to the online sales of high-end and premium products, such as designer clothing, accessories, jewelry, and watches.
The DIY and Hardware Store market refers to the online retail sector that focuses on the sale of do-it-yourself (DIY) and hardware products. This market includes a wide range of products such as power tools, hand tools, building materials, electrical supplies, plumbing supplies, and gardening equipment.
The Media market includes the sale of media-related products through digital channels which covers products, such as books, music, movies, and video games.

Additional Information:

eCommerce comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends, and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues include VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B, and reCommerce are not included. Additional definitions can be found on each respective market page.

Key players in the market are companies like Amazon, JD, Taobao, Tmall, Apple and Walmart.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Global Consumer Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.