<div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p>In recent years, many Hong Kong companies have been exploring new markets in response to economic uncertainties such as geopolitical changes and supply chain restructuring. After turning their attention to Chinese Mainland and Asia, Latin America’s enormous e-commerce consumer market has become a new blue ocean that Hong Kong companies cannot overlook.</p><p>At the webinar <em>Unlocking Latin America’s E-commerce Potential: Peru in Focus</em> hosted by <em>HKTDC Research</em>, economists expounded on the immense potential and key development trends of the Latin American e-commerce market. The webinar introduced particularly the latest research report － <a data-cke-saved-href="https://research.hktdc.com/en/article/MjI0MzE1NTkxNQ" href="https://research.hktdc.com/en/article/MjI0MzE1NTkxNQ" target="_self">High Regard for Hong Kong Brands: Peruvian E-commerce Consumer Survey Findings</a>, helping Hong Kong companies interested in expanding into the country understand the opportunities.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPVideoDiv" class="rmip-videodiv"><iframe allowfullscreen="allowfullscreen" data-rmip-type="RMIPVideo" src="https://www.youtube.com/embed/VaPDUrlXOVw?" poster="dist/placeholder-image.png">Your browser does not support the video element.</iframe></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p style="text-align: center;">Cantonese</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>Latin American markets emerge amid new geopolitical landscape </strong></p><p><strong>Alice Tsang, Principal Economist (Global Research Team) of <em>HKTDC</em>,</strong> pointed out that the Latin American sales market has been developing in leaps and bounds in recent years, particularly when it comes to online sales. In 2025, the region’s total online retail sales are estimated at US$159 billion. Among the countries in the region, Brazil, Peru, Chile and Mexico have developed mature e-commerce ecosystems while consumer purchasing power continues to rise.</p><p>For Hong Kong, Peru is an especially promising partner for economic and trade co-operation. In November 2024, the <em>Peru-Hong Kong Free Trade Agreement</em> was signed to deepen bilateral economic and trade ties. This provides significant advantages to Hong Kong companies expanding into Peru’s rapidly growing online retail market.</p><p>Tsang commented: “Peru’s e-commerce sector is well-developed, its local market is diverse, and the use of the internet is increasingly commonplace. In addition, many banks and financial institutions are now offering inclusive ‘buy now, pay later’ services, which help stimulate consumers’ desire to purchase. Meanwhile, with the rise of social media platforms such as <em>TikTok</em> and <em>Instagram</em>, Asian trends from China, Japan and South Korea continue to penetrate the market, drawing strong attention to many Asian brands and products.”</p><p>E-commerce consumption in Latin America is growing beyond expectation. In 2024, total retail sales in the region reached US$1,108 billion, of which over 13% came from online consumption. In the next few years, online consumption will drive overall retail market growth. It is estimated that online consumption will increase by 9% annually until 2029, while physical retail will rise by 4% annually.</p><p>“We can compare this to the e-commerce markets on the Mainland and in Hong Kong,” Tsang added. “In 2025, online purchases accounted for some 26.1% of total retail consumption on the Mainland, while in Hong Kong, online retail sales were about 9% of the overall retail consumption. In comparison, Latin America currently accounts for 8% of the world’s population, and with the increasingly stable development of major economies in this region, its online consumption market has great potential.”</p><p>Latin America covers a vast territory with more than 30 countries. Tsang suggested that Hong Kong companies may first consider expanding into the region’s major e-commerce markets, particularly Brazil, Mexico, Chile and Peru. “The populations and GDPs of these countries are all sizeable. However, it is worth noting that the consumption markets in Brazil and Mexico have been developing for years, and many European and American brands have a long-established presence. So, it may be challenging for Hong Kong companies to gain a foothold there. On the other hand, Chile signed a free trade agreement (FTA) with Hong Kong as early as 2012, making it the first Latin American country to do so. Peru signed an FTA with Hong Kong in 2024, indicating that, like Chile, its economic and trade ties with Hong Kong will get increasingly tight.”</p><p>Popular product categories among Latin American e‑commerce shoppers include appliances and electronic products (19%), fashion (12%), foods (10%), home products (6%), health and beauty products (5%), and drinks and tobacco (3%). Tsang noted: “<em>Mercado Libre</em> and <em>Amazon</em> are the top two e-commerce giants in Latin America, and their e-commerce sales from 2015 to 2024 have been remarkable. <em>Mercado Libre</em> recorded a compound annual growth rate (CAGR) of 28%, while Amazon reached 47%. Singapore’s e-commerce platforms <em>Shopee </em>and <em>Shein</em> also entered Latin America in 2019 and 2021 respectively. <em>Shopee</em>’s sales have achieved an average annual growth rate of 122% since 2019.”</p><p>The development paths and characteristics of e-commerce ecosystems vary across Latin American countries. For example, e-commerce platforms in Brazil are more diverse: other than <em>Mercado Libre</em> and <em>Amazon</em>, Asian platforms such as <em>Shopee</em> and <em>Shein</em> also hold significant market shares. The e-commerce and physical retail markets in Peru, however, are dominated by Latin American platforms, namely <em>Mercado Libre</em>, <em>Amazon</em>, <em>Saga Falabella</em>, <em>Ripley</em> and <em>Plaza Vea</em>.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption"><img data-gjs-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMzAvdDhscHc5Zm4tVUdWeWRTMHouanBlZyIsInJlZ2lvbiI6ImFwLXNvdXRoZWFzdC0xIiwiZm9ybWF0IjoianBlZyIsInF1YWxpdHkiOjEwMCwiZWRpdHMiOnt9fQ==" alt="Picture: Top 5 e-commerce platforms (by retail sales value)." data-rmip-type="RMIPImageWithCaption" data-img-is-not-enlarge="false" data-img-link="" data-link-is-new-window="false" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption">E-commerce development and characteristics vary across Latin American countries.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>Import regulations </strong></p><p>As far as laws and regulations are concerned, before expanding into Latin American countries, Hong Kong companies should have a thorough understanding of the relevant sales tax and import tariffs policies. Tsang explained: “In recent years, countries like Brazil and Chile have removed <em>de minimis</em> exemptions for low value goods. Meanwhile, under the <em>United States-Mexico-Canada Agreement (USMCA)</em>, Mexico still grants duty‑free entry to parcels valued at US$50 or lower sent from the US and Canada. Thus, Hong Kong companies shipping from the Chinese Mainland and Hong Kong should be mindful of the cost pressure arising from tariffs. In addition, Latin American countries have different sales tax policies. Hong Kong companies should check out the relevant sales tax policies and tax incentives offered by their target markets.”</p><p>Finally, Tsang emphasised that not all products can enter Latin American markets via e-commerce. For example, pharmaceuticals must comply with the import regulations set by local health and drug authorities. For cosmetics, perfumes are classified as dangerous goods due to their alcohol content, meaning they cannot be imported into Latin America as low-value parcels through e-commerce.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption"><img data-gjs-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMzAvZ25ueXFidmctVUdWeWRTMDAuanBlZyIsInJlZ2lvbiI6ImFwLXNvdXRoZWFzdC0xIiwiZm9ybWF0IjoianBlZyIsInF1YWxpdHkiOjEwMCwiZWRpdHMiOnt9fQ==" alt="Picture: Sought-after items. Forecasted Compound Annual Growth Rate in 2025-2029." data-rmip-type="RMIPImageWithCaption" data-img-is-not-enlarge="false" data-img-link="" data-link-is-new-window="false" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption">Hong Kong companies can establish their brands in Latin American markets by meeting
local consumer demand.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>FTA drives new e-commerce opportunities</strong></p><p>Peru is Hong Kong’s fifth-largest trading partner in Latin America. In 2025, Hong Kong’s exports to Peru were mainly electronic products (76%), machine-related products (9%) and eyewear, photographic parts and accessories (5%), whereas Peru’s exports to Hong Kong were primarily fresh and dry fruits (66%), minerals (6%) and clothing (5%).</p><p><strong>Nicholas Fu, Senior Economist (Global Research Team) of <em>HKTDC</em>,</strong> said: “Trade between Peru and Hong Kong covers a wide range of products, so Hong Kong companies in different sectors can expand their business based on local market demands. According to market forecasts, Peru’s e-commerce sales will maintain a double-digit growth of 14% from 2025 to 2029, outperforming many Latin American countries. Hong Kong companies looking to expand into the market can start with social media marketing, including running advertising campaigns to spur sales.”</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption"><img data-gjs-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMzAvaWVpb3libXAtVUdWeWRTMDEuanBlZyIsInJlZ2lvbiI6ImFwLXNvdXRoZWFzdC0xIiwiZm9ybWF0IjoianBlZyIsInF1YWxpdHkiOjEwMCwiZWRpdHMiOnt9fQ==" alt="Picture: Online survey key summary." data-rmip-type="RMIPImageWithCaption" data-img-is-not-enlarge="false" data-img-link="" data-link-is-new-window="false" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption">A HKTDC survey discovers that Peruvian consumers believe Hong Kong brands and products are value for money and well-received internationally.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>Product quality is the key to Hong Kong brands’ positive image</strong></p><p>To explore the Peruvian e-commerce landscape and help Hong Kong companies tap potential opportunities, <em>HKTDC Research</em> carried out a <a data-cke-saved-href="https://research.hktdc.com/en/article/MjI0MzE1NTkxNQ" href="https://research.hktdc.com/en/article/MjI0MzE1NTkxNQ" target="_self">survey</a> on Peru’s e-commerce in December 2024. Conducted in Lima, Peru’s capital, and Arequipa, another important industrial and commercial city, the study surveyed 600 e-commerce consumers who had purchased Asian branded products. It provided an in‑depth assessment of Peruvian consumers’ perceptions of brands and products from Chinese Mainland, Hong Kong, and Asia more broadly, and offered recommendations for Hong Kong brands and products seeking to enter the Peruvian market.</p><p>According to the survey results, Peruvian consumers have a certain level of awareness of Hong Kong and Asian brands. To them, Hong Kong brands stand for “value for money” (66%) and are well-received internationally (50%); whereas “product quality” is another factor for consideration in making online purchases. The Hong Kong brands known to Peruvian consumers are mainly associated with food, clothing and daily necessities. Peruvian respondents who were familiar with Hong Kong brands have an average annual income of HK$170,000, far higher than the average of HK$40,000 for all respondents.</p><p>Fu said: “During our consultative visit in Peru, we found that Peruvians still prefer making purchases in physical stores, seeing shopping as a social and family activity. However, the pandemic has made online shopping increasingly popular. Though Peruvians only shop online 3.2 times a month on average, indicating that the country’s e-commerce market is still at a developing stage, Hong Kong companies can take early action to establish a first-mover advantage in seizing emerging opportunities.”</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption"><img data-gjs-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMzAvcngzaDlqaWwtVUdWeWRTMDIuanBlZyIsInJlZ2lvbiI6ImFwLXNvdXRoZWFzdC0xIiwiZm9ybWF0IjoianBlZyIsInF1YWxpdHkiOjEwMCwiZWRpdHMiOnt9fQ==" alt="Picture: Please provide the name(s) of any Hong Kong brands/products that you are familiar with." data-rmip-type="RMIPImageWithCaption" data-img-is-not-enlarge="false" data-img-link="" data-link-is-new-window="false" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption">Peru is Hong Kong’s fifth-largest trading partner in Latin America, and the local people have a certain level of awareness of Hong Kong products and brands.</p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>Six key strategies</strong> <strong>to expanding into Peru</strong></p><p>Fu mentioned that, in the aforementioned study, in-depth interviews were also conducted with four experts from Peru’s leading e-commerce platforms. They all recommended that Hong Kong companies should take a multi-pronged approach to expanding into Peru. “Investing in online and offline advertising is one effective strategy. Hong Kong companies can also set up physical stores, such as pop-up stores, or collaborate with local KOLs. Leveraging the power of social media can further establish brand awareness and fortify the foundation for long-term development in the Peruvian market,” he elaborated.</p><p>Also, since Peruvian consumers are price-sensitive, e-commerce platforms often hold promotional campaigns on festive occasions such as Black Friday, Peru’s Independence Day and Christmas, offering deep discounts to draw consumers. Hong Kong brands and products may step up their promotion efforts during these periods and attract local consumers through special offers.</p><p>Third, Hong Kong companies need to adapt to the local e-commerce culture. In Peru, popular products have a very fast turnaround time, few of them last for more than a year. Consequently, companies should implement a swift turnover approach, such as launching new products every half year to keep up with market demand.</p><p>Fourth, local consumers place great importance on delivery efficiency. Generally, it takes about three weeks to ship products from Hong Kong to Peru. To meet consumer expectations for fast delivery, many local e-commerce platforms provide last-mile delivery solutions. Hong Kong companies can consider using the logistics services offered by local e-commerce platforms or partnering with reliable logistics partners to better control delivery timelines.</p><p>Fifth, Hong Kong companies should, as much as possible, let online consumers enjoy the same level of services as in physical stores. Hong Kong companies can provide after-sales services such as refunds and membership programmes through e-commerce platforms or directly to local consumers to build a loyal customer base.</p><p>Lastly, the Fu specifically reminded Hong Kong companies of complying with Peru’s legal requirements. Before entering the local market, a company should apply for related sales approvals and safety certificates based on its own products. They should also consider hiring local professional consultants, including lawyers and accountants, to handle matters related to legal documentation.</p></div></div></div>

At the webinar recently hosted by HKTDC Research, economists  shared the key research findings of the report High Regard for Hong Kong Brands: Peruvian E-commerce Consumer Survey Findings. Moreover, the immense potential and key trends of the Latin American e-commerce market were also highlighted in the webinar, helping Hong Kong companies identify potential business opportunities in this new blue ocean that Hong Kong companies cannot overlook.

Peru: Latin America’s E-Commerce New Blue Ocean

The 10th Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), concluded successfully on 11th September 2025 at the Hong Kong Convention and Exhibition Centre.

Belt and Road Summit 2025: Collaborate for Change • Shape a Shared Future

The Hong Kong economy further expanded by 3.5% year-on-year in 2025, mainly driven by strong performance in the external sector and improved domestic demand. The Government forecasts a growth of 2.5% to 3.5% in real terms for 2026.

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Peru: Latin America’s E-Commerce New Blue Ocean

Belt and Road Summit 2025: Collaborate for Change • Shape a Shared Future

The 10th Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), concluded successfully on 11th September 2025 at the Hong Kong Convention and Exhibition Centre.

Economic and Trade Information: Hong Kong

The Hong Kong economy further expanded by 3.5% year-on-year in 2025, mainly driven by strong performance in the external sector and improved domestic demand. The Government forecasts a growth of 2.5% to 3.5% in real terms for 2026.

Most popular

Discover the content loved most by others

Peru: Latin America’s E-Commerce New Blue Ocean

Belt and Road Summit 2025: Collaborate for Change • Shape a Shared Future

The 10th Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), concluded successfully on 11th September 2025 at the Hong Kong Convention and Exhibition Centre.

Economic and Trade Information: Hong Kong

The Hong Kong economy further expanded by 3.5% year-on-year in 2025, mainly driven by strong performance in the external sector and improved domestic demand. The Government forecasts a growth of 2.5% to 3.5% in real terms for 2026.