Please Wait.....
Report
Panama E-commerce - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
Market Report I 2026-01-16 I 100 Pages I Mordor Intelligence
Panama E-commerce Market Analysis
The Panama e-commerce market was valued at USD 2.64 billion in 2025 and estimated to grow from USD 2.85 billion in 2026 to reach USD 4.21 billion by 2031, at a CAGR of 8.08% during the forecast period (2026-2031). Growth is anchored in Panama's role as a logistics gateway for the Americas; continuous free-zone upgrades, expanded air-cargo capacity and government-sponsored connectivity programs are shortening delivery cycles and lowering fulfilment costs. Rapid smartphone adoption has entrenched mobile commerce as the primary transaction channel, while fintech wallets enlarge the addressable shopper base by bridging banking gaps. Retailers are prioritizing last-mile automation, warehouse robotics and AI-driven personalization to drive conversion, defend margins and counter rising cross-border competition. Global platforms leverage scale advantages, yet nimble local players win share through localized catalogues, hyper-local delivery and omnichannel service models that resonate with Panama's urban consumers.
Panama E-commerce Market Trends and Insights
Agenda Digital Panama 2025 accelerating SME digitalization
Government programs that subsidize cloud tools, offer e-invoicing and provide free broadband under "Internet for All" lower entry barriers for 50,000+ micro and small businesses. Public-private hackathons and fast-track grants entice SaaS vendors to localize software, enabling merchants to list online inventories in weeks rather than months. As more SMEs integrate payment APIs and fulfilment dashboards, assortments expand, average order values rise and rural consumers gain wider product access.
Fintech payment rails widening the unbanked shopper base
Digital wallets leapfrog legacy banking by allowing instant wallet-to-wallet transfers via phone numbers. With 74% of surveyed SMEs now accepting Yappy, checkout friction declines and first-time online buyers convert at higher rates. Interoperability between wallets and cards widens merchant acceptance, while biometric login increases trust. Rapid activation of QR codes at kiosks and open-loop transit systems further normalizes wallet usage beyond e-commerce.
Fragmented rural address system inflating delivery failure rates
Lack of standardized street naming outside metropolitan areas triggers rerouting, multiplies driver calls and pushes redelivery expenses up to 12% of parcel cost. Operators pilot GPS pin-drop apps and community drop-points yet scalability remains constrained, tempering rural penetration.
Other drivers and restraints analyzed in the detailed report include:
Logistics free-zone expansion cutting delivery lead-timesCross-border purchase appetite powered by U.S.-Panama trade preferenceElevated import duties & customs clearance delays causing checkout abandonment
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
The B2C segment commanded 87.45% of 2025 revenue, yet the B2B arm is on track for a 10.22% CAGR, outpacing headline growth. Large distributors now embed RFQ engines, real-time inventory feeds and single-click credit lines, shrinking procurement cycle times. Vendors inside free zones exploit bonded stock to promise next-day dispatch to neighboring markets, underscoring Panama e-commerce market competitiveness for business buyers.
Second-tier suppliers adopt bank-backed storefront templates such as BAC's Pyme Store, which bundles SSL, invoicing and courier integrations. As adoption scales, demand aggregation and dynamic pricing tools emerge, deepening marketplaces and distributing volume across smaller firms. The Panama e-commerce market size for B2B transactions therefore widens, narrowing the historic consumer bias.
Mobile devices generated 73.40% of transactions in 2025 and hold the fastest trajectory at 9.55% CAGR, mirroring regional smartphone penetration. Telcos now bundle zero-rated shopping apps, and progressive web apps ensure smooth checkout even on 3G, underpinning retention. The Panama e-commerce market size linked to mobile screens is poised to expand through voice search, on-device biometrics and location-based offers.
Desktop remains relevant for high-ticket and B2B orders requiring multi-line entry and contract review, yet its share erodes yearly. Smart TVs and gaming consoles represent nascent channels; merchants test shoppable video and controller-based browsing for entertainment-linked categories. Omnichannel UX strategies align wish-lists across devices to improve customer lifetime value.
The Panama E-Commerce Market Report is Segmented by Business Model (B2C, B2B), Device Type (Smartphone / Mobile, Desktop and Laptop, Other Device Types), Payment Method (Credit / Debit Cards, Digital Wallets, BNPL, Other Payment Method), B2C Product Category (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverages, and More). The Market Forecasts are Provided in Terms of Value (USD).
List of Companies Covered in this Report:
Amazon.com Inc. MercadoLibre Inc. Copa App (Copa Airlines) Rappi Inc. Panafoto S.A. Farmacias Arrocha S.A. Felix B. Maduro S.A. ePagos Corp. Multimax (Grupo Melo) Stevens S.A. Albrook Mall Online Novey S.A. Cochez y Cia. S.A. Feduro Panama S.A. Doit Center Online e-Shop LatAm S.A. Digicel Panama E-shop Claro Shop Panama Payless Panama Uber Eats Panama
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET LANDSCAPE
4.1 Market Overview
4.2 Market Drivers
4.2.1 Government-backed "Agenda Digital Panama 2025" accelerating SME digitalization
4.2.2 Fin-tech payment rails (Nequi, Yappy) widening addressable un-banked shopper base
4.2.3 Logistics free-zone expansion (Colon, Panama Pacifico) cutting delivery lead-times
4.2.4 Cross-border purchase appetite powered by U.S.-Panama trade preference
4.2.5 Diaspora-remittance-linked gifting boosting international GMV
4.2.6 AI-driven last-mile routing lowering fulfilment cost per parcel
4.3 Market Restraints
4.3.1 Fragmented rural address system inflating delivery failure rates
4.3.2 Elevated import duties and customs clearance delays causing checkout abandonment
4.3.3 Cyber-fraud perception limiting card-not-present transactions
4.3.4 Low digital maturity of Tier-2/Tier-3 merchants
4.4 Value-Chain Analysis
4.5 Regulatory Outlook
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes
4.6.5 Competitive Rivalry
5 MARKET SIZE AND GROWTH FORECASTS (VALUES)
5.1 By Business Model
5.1.1 B2C
5.1.2 B2B
5.2 By Device Type
5.2.1 Smartphone / Mobile
5.2.2 Desktop and Laptop
5.2.3 Other Device Types
5.3 By Payment Method
5.3.1 Credit / Debit Cards
5.3.2 Digital Wallets
5.3.3 BNPL
5.3.4 Other Payment Method
5.4 By B2C Product Category
5.4.1 Beauty and Personal Care
5.4.2 Consumer Electronics
5.4.3 Fashion and Apparel
5.4.4 Food and Beverages
5.4.5 Furniture and Home
5.4.6 Toys, DIY and Media
5.4.7 Other Product Categories
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Strategic Moves
6.3 Market Share Analysis
6.4 Company Profiles (includes Global level Overview, Market level Overview, Core Segments, Financials, Strategic Info, Market Rank/Share, Products and Services, Recent Developments)
6.4.1 Amazon.com Inc.
6.4.2 MercadoLibre Inc.
6.4.3 Copa App (Copa Airlines)
6.4.4 Rappi Inc.
6.4.5 Panafoto S.A.
6.4.6 Farmacias Arrocha S.A.
6.4.7 Felix B. Maduro S.A.
6.4.8 ePagos Corp.
6.4.9 Multimax (Grupo Melo)
6.4.10 Stevens S.A.
6.4.11 Albrook Mall Online
6.4.12 Novey S.A.
6.4.13 Cochez y Cia. S.A.
6.4.14 Feduro Panama S.A.
6.4.15 Doit Center Online
6.4.16 e-Shop LatAm S.A.
6.4.17 Digicel Panama E-shop
6.4.18 Claro Shop Panama
6.4.19 Payless Panama
6.4.20 Uber Eats Panama
7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK
7.1 White-Space and Unmet-Need Assessment
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security