Fashion market in Armenia
The Armenian Fashion eCommerce market is predicted to reach US$4.1 million by 2024 and accounts for 17.3% of the total eCommerce market in Armenia. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 1.6%, resulting in a projected market volume of US$4.3 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Market development
eCommerce revenue development in the Bags & Accessories market in Armenia
The Armenian Bags & Accessories eCommerce market is predicted to reach US$0.6 million by 2024 and accounts for 14.5% of the Fashion eCommerce market in Armenia. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 2.8%, resulting in a projected market volume of US$0.7 million by 2028. The Bags & Accessories eCommerce market is a sub-market of the Fashion market. Further categories within the Fashion market are: Apparel, and Footwear.
eCommerce revenue development in the Bags & Accessories market in Armenia
eCommerce revenue growth in the Bags & Accessories market in Armenia
Net eCommerce revenue split by sub-category
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Growth (in %) | 18.6 | 70.7 | 10.9 | 77.9 | 46.6 | 82.3 | 94.9 | 49.6 | ||||
| as of Fashion (in %) | 34.7 | 34.4 | 33.9 | 33.4 | 32.4 | 32.8 | 32.4 | 32.0 | 31.6 | 31.3 | 31.0 | 30.7 |
Market definition
Definition of the Bags & Accessories market within the Fashion market
Market definition: Fashion > Bags & Accessories In the category Bags & Accessories digital channels are used to sell a variety of products, including fashion accessoires (e.g. belts, sunglasses, scarves), luggage & bags (e.g. suitcases, backpacks, handbags) and jewelry & watches (e.g. earrings, necklaces, wristwatches). Not part of the category are apparel (e.g. pants, jackets, t-shirts), footwear (e.g. sneakers, boots, sandals) or protective cases and covers for electronic devices (e.g. smartphone cases and covers). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Fashion accessoires (e.g. belts, sunglasses, scarves)
- Luggage & bags (e.g. suitcases, backpacks, handbags)
- Jewelry & watches (e.g. earrings, necklaces, wristwatches)
Out-of-scope
- Apparel (e.g. pants, jackets, t-shirts)
- Footwear (e.g. sneakers, boots, sandals)
- Protective cases and covers for electronic devices (e.g. smartphone cases and covers)
Market comparison
The Armenian Bags & Accessories market in a global comparison
Market comparison by growth, online share, and revenue in 2023
Select sub-category
- Socks *
- Suits & Trouser Suits *
- Sweaters *
- Workwear *
- Other Apparel *
- Fashion Accessories *
- Belts *
- Headwear *
- Scarves & Shawls *
- Sunglasses *
- Wallets & Purses *
- Other Accessories *
- Watches *
- Other Jewelry & Watches *
- Backpacks & Daypacks *
- Handbags *
- Hip & Fanny Packs *
- Suitcases *
- Other Luggage & Bags *
- Flat Shoes *
- High Heels & Pumps *
- Other Footwear *
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