eCommerce market in Armenia
Armenia is one of the smaller markets for eCommerce with a predicted revenue of US$23.4 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.8%, resulting in a projected market volume of US$31.6 million by 2028. With an expected increase of 10.4% in 2024, the Armenian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Armenia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Armenian eCommerce market. Hobby & Leisure is the largest market and accounts for 24.7% of the Armenian eCommerce revenue. It is followed by Electronics with 21.6%, Fashion with 17.3%, Furniture & Homeware with 11.8%, Care Products with 9.0%, DIY with 8.4%, and Grocery with the remaining 7.1%.
Market development
eCommerce revenue development in Armenia
Armenia is one of the smaller markets for eCommerce with a predicted revenue of US$23.4 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.8%, resulting in a projected market volume of US$31.6 million by 2028. With an expected increase of 10.4% in 2024, the Armenian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Armenia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Armenian eCommerce market. Hobby & Leisure is the largest market and accounts for 24.7% of the Armenian eCommerce revenue. It is followed by Electronics with 21.6%, Fashion with 17.3%, Furniture & Homeware with 11.8%, Care Products with 9.0%, DIY with 8.4%, and Grocery with the remaining 7.1%.
eCommerce revenue development in Armenia
eCommerce revenue growth in Armenia
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 23.0 | 31.0 | 15.1 | 12.5 | 71.5 | 25.4 | 91.8 | 60.4 |
Market comparison
The Armenian eCommerce market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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