eCommerce market in Mongolia

Mongolia is one of the smaller markets for eCommerce with a predicted revenue of US$243.9 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 28.2%, resulting in a projected market volume of US$658.4 million by 2028. With an expected increase of 36.5% in 2024, the Mongolian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Mongolia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Mongolian eCommerce market. Electronics is the largest market and accounts for 23.1% of the Mongolian eCommerce revenue. It is followed by Hobby & Leisure with 21.2%, Fashion with 18.8%, Furniture & Homeware with 11.7%, Grocery with 8.7%, Care Products with 8.4%, and DIY with the remaining 8.0%.

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 Mongolian retail market, the online share is 4.7% and will increase by an average of 3.5% to 5.4% by 2028.