Electronics market in Mongolia

The Mongolian Electronics eCommerce market is predicted to reach US$78.4 million by 2023 and accounts for 22.9% of the total eCommerce market in Mongolia. 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 0.8%, resulting in a projected market volume of US$81.1 million by 2027. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Refrigerators market in Mongolia

The Mongolian Refrigerators eCommerce market is predicted to reach US$5.5 million by 2023 and accounts for 25.2% of the Household Appliances eCommerce market in Mongolia. 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 0.6%, resulting in a projected market volume of US$5.6 million by 2027. The Refrigerators eCommerce market is a sub-market of the Household Appliances market. Further categories within the Household Appliances market are: Cookers & Ovens, Dishwashers, Other Household Appliances, Small Kitchen Appliances, Vacuum Cleaners, and Washing Machines.

eCommerce revenue development in the Refrigerators market in Mongolia

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Refrigerators market in Mongolia

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 64.5 21.5 49.6 87.6 57.2 1.9 57.8 39.0
AOV (in US$) 0.6 0.2 0.2 0.4 0.6 0.3 0.2 0.9
CVR (in %) 6.1 90.3 36.7 42.1 61.3 11.5 39.4 19.0
AOV: Average Order Value CVR: Conversion Rate

Online share

eCommerce online share of the total Refrigerators market in Mongolia

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 Refrigerators retail market, the online share is 19.1% and will increase by an average of 7.4% to 25.4% by 2027.

eCommerce online share of the total Refrigerators market in Mongolia

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 15.8% 98.7% 89.1% 51.7% 54.5% 77.7% 61.3% 5.7%

Market definition

Definition of the Refrigerators market within the Electronics market

Market definition: Electronics > Electrical Appliances > Household Appliances > Refrigerators The category Refrigerators includes the online trade of french door refrigerators, top-freezer refrigerators, bottom-freezer refrigerators, and more. This category does not cover freezers and commercial and industrial refrigerators. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • French door refrigerators
  • Top-freezer refrigerators
  • Bottom-freezer refrigerators
  • Side-by-side refrigerators
  • Counter-depth refrigerators
  • Compact refrigerators
  • Wine refrigerators and beverage centers

Out-of-scope

  • Freezers
  • Commercial and industrial refrigerators