Fashion market in Mongolia

The Mongolian Fashion eCommerce market is predicted to reach US$45.9 million by 2024 and accounts for 18.8% 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 2024-2028) will be 23.0%, resulting in a projected market volume of US$105.0 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Suits & Trouser Suits market in Mongolia

The Mongolian Suits & Trouser Suits eCommerce market is predicted to reach US$0.8 million by 2024 and accounts for 3.4% of the Apparel 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 2024-2028) will be 17.0%, resulting in a projected market volume of US$1.6 million by 2028. The Suits & Trouser Suits eCommerce market is a sub-market of the Apparel market. Further categories within the Apparel market are: Dresses & Skirts, Jackets, Coats & Anoraks, Other Apparel, Pants, Socks, Sweaters, T-Shirts, Shirts & Blouses, Underwear & Nightwear, and Workwear.

eCommerce revenue development in the Suits & Trouser Suits 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 Suits & Trouser Suits 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

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)77.255.872.20.331.67.618.080.8

Online share

eCommerce online share of the total Suits & Trouser Suits 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 Suits & Trouser Suits retail market, the online share is 21.8% and will increase by an average of 6.1% to 27.6% by 2028.

eCommerce online share of the total Suits & Trouser Suits market in Mongolia

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)51.6%82.7%68.3%59.6%34.5%25.6%12.7%91.9%

Market definition

Definition of the Suits & Trouser Suits market within the Fashion market

Market definition: Fashion > Apparel > Suits & Trouser Suits The category Suits & Trouser Suits includes the online trade of suits, tuxedos and trouser suits. This category does not cover ties, pocket squares or cufflinks. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Suits
  • Tuxedos
  • Trouser suits

Out-of-scope

  • Ties
  • Pocket squares
  • Cufflinks
  • Belts

Market comparison

The Mongolian Suits & Trouser Suits market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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