eCommerce market in Armenia
Armenia is one of the smaller markets for eCommerce with a predicted revenue of US$584.9 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 14.6%, resulting in a projected market volume of US$1,007.1 million by 2027. With an expected increase of 22.6% in 2023, the Armenian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Armenia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Armenian eCommerce market. Food & Personal Care is the largest market and accounts for 38.2% of the Armenian eCommerce revenue. It is followed by Fashion with 18.8%, Electronics & Media with 16.8%, Furniture & Appliances with 16.3%, and Toys, Hobby & DIY with the remaining 9.9%.
Market development
eCommerce revenue development in Armenia
Armenia is one of the smaller markets for eCommerce with a predicted revenue of US$584.9 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 14.6%, resulting in a projected market volume of US$1,007.1 million by 2027. With an expected increase of 22.6% in 2023, the Armenian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Armenia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Armenian eCommerce market. Food & Personal Care is the largest market and accounts for 38.2% of the Armenian eCommerce revenue. It is followed by Fashion with 18.8%, Electronics & Media with 16.8%, Furniture & Appliances with 16.3%, and Toys, Hobby & DIY with the remaining 9.9%.
eCommerce revenue development in Armenia
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 69.5 | 40.3 | 50.8 | 46.8 | 44.6 | 13.1 | 41.7 | 85.5 |
| AOV (in US$) | 94.7 | 38.6 | 25.4 | 51.7 | 85.3 | 46.9 | 51.5 | 66.1 |
| CVR (in %) | 69.5 | 40.3 | 50.8 | 46.8 | 44.6 | 13.1 | 41.7 | 85.5 |
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