eCommerce market in Mongolia

Mongolia is one of the smaller markets for eCommerce with a predicted revenue of US$438.4 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 13.0%, resulting in a projected market volume of US$715.5 million by 2027. With an expected increase of 17.3% in 2023, the Mongolian eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Mongolia, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Mongolian eCommerce market. Fashion is the largest market and accounts for 33.5% of the Mongolian eCommerce revenue. It is followed by Electronics & Media with 26.4%, Food & Personal Care with 25.3%, Furniture & Appliances with 9.6%, and Toys, Hobby & DIY with the remaining 5.2%.