Fashion market in Guyana

The Guyanese Fashion eCommerce market is predicted to reach US$29.4 million by 2023 and accounts for 20.7% of the total eCommerce market in Guyana. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 6.1%, resulting in a projected market volume of US$37.3 million by 2027. 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 Guyana

The Guyanese Bags & Accessories eCommerce market is predicted to reach US$5.8 million by 2023 and accounts for 19.8% of the Fashion eCommerce market in Guyana. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 11.7%, resulting in a projected market volume of US$9.1 million by 2027. 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 Guyana

in million US$

eCommerce revenue growth in the Bags & Accessories market in Guyana

in %

Net eCommerce revenue split by sub-category

in %
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 %) 50.8 8.2 3.3 98.2 70.4 31.3 70.6 44.8

Online share

eCommerce online share of the total Bags & Accessories market in Guyana

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Guyanese Bags & Accessories retail market, the online share is 35.1% and will increase by an average of 3.6% to 40.5% by 2027.

eCommerce online share of the total Bags & Accessories market in Guyana

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 60.3% 92.5% 13.9% 62.2% 3.1% 1.1% 38.3% 70.0%

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)