eCommerce market in Latvia

Market development

eCommerce revenue development in Latvia

Latvia is the 75th largest market for eCommerce with a predicted revenue of US$787.7 million by 2024, placing it ahead of Bolivia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 3.4%, resulting in a projected market volume of US$900.7 million by 2028. With an expected increase of 4.5% in 2024, the Latvian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Latvia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Latvian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.5% of the Latvian eCommerce revenue. It is followed by Electronics with 20.4%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.1%, and Grocery with the remaining 6.0%.

eCommerce revenue development in Latvia

in million US$

eCommerce revenue growth in Latvia

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)46.679.521.086.012.387.667.724.4

Online share

eCommerce online share in Latvia

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 Latvian retail market, the online share is 7.9% and will increase by an average of 6.3% to 10.1% by 2028.

eCommerce online share in Latvia

in %
20202021202220232024202520262027
Online share (in %)17.4%11.4%86.4%5.9%67.8%43.2%72.2%59.2%