The eServices market in Chile has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Chile have shifted towards digital services, as consumers increasingly seek convenience and efficiency. With the widespread adoption of smartphones and internet connectivity, more people are turning to online platforms to access a wide range of services. This includes e-commerce, online banking, digital entertainment, and various other online services. The convenience of accessing these services from the comfort of their homes or on-the-go has made eServices a popular choice among Chilean consumers. Trends in the eServices market in Chile reflect the global shift towards digitalization. One of the key trends is the rise of e-commerce, with more businesses establishing online stores and consumers embracing online shopping. This trend has been further accelerated by the COVID-19 pandemic, as lockdown measures and social distancing restrictions have limited physical retail options. As a result, businesses have had to adapt and expand their online presence to meet consumer demand. Another trend in the eServices market is the increasing popularity of digital payment solutions. Chile has seen a rise in the adoption of mobile payment apps and digital wallets, as consumers seek secure and convenient ways to make transactions. This trend is driven by the growing acceptance of digital payments by merchants and the government's efforts to promote a cashless society. Local special circumstances in Chile, such as the country's geography and infrastructure, have also influenced the development of the eServices market. Chile is a long and narrow country, which poses logistical challenges for traditional brick-and-mortar businesses. This has prompted many entrepreneurs and businesses to explore online platforms as a means to reach customers across the country. Additionally, the government has implemented initiatives to improve internet connectivity and digital infrastructure, further facilitating the growth of the eServices market. Underlying macroeconomic factors have also played a role in the development of the eServices market in Chile. The country has a stable economy and a growing middle class, which has increased disposable income and consumer spending. This has created a favorable environment for businesses to invest in eServices and for consumers to embrace digital solutions. In conclusion, the eServices market in Chile is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As more consumers seek convenience and efficiency, businesses are adapting by expanding their online presence and offering a wide range of digital services. With the continued development of digital infrastructure and government support, the eServices market in Chile is expected to continue its upward trajectory.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. 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 relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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