eCommerce market in Madagascar

Madagascar is one of the smaller markets for eCommerce with a predicted revenue of US$170.0 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 14.0%, resulting in a projected market volume of US$287.5 million by 2027. With an expected increase of 14.9% in 2023, the Madagascan eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Madagascar, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Madagascan eCommerce market. Electronics & Media is the largest market and accounts for 33.4% of the Madagascan eCommerce revenue. It is followed by Food & Personal Care with 30.0%, Fashion with 15.2%, Furniture & Appliances with 12.5%, and Toys, Hobby & DIY with the remaining 8.8%.

Market development

eCommerce revenue development in Madagascar

Madagascar is one of the smaller markets for eCommerce with a predicted revenue of US$170.0 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 14.0%, resulting in a projected market volume of US$287.5 million by 2027. With an expected increase of 14.9% in 2023, the Madagascan eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Madagascar, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Madagascan eCommerce market. Electronics & Media is the largest market and accounts for 33.4% of the Madagascan eCommerce revenue. It is followed by Food & Personal Care with 30.0%, Fashion with 15.2%, Furniture & Appliances with 12.5%, and Toys, Hobby & DIY with the remaining 8.8%.

eCommerce revenue development in Madagascar

in million US$, in %

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$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 59.2 78.5 32.3 24.6 55.7 12.1 12.6 75.2
AOV (in US$) 13.4 32.7 13.6 2.7 61.4 60.7 95.5 36.8
CVR (in %) 59.2 78.5 32.3 24.6 55.7 12.1 12.6 75.2
AOV: Average Order Value CVR: Conversion Rate