eCommerce market in Azerbaijan
Market development
eCommerce revenue development in Azerbaijan
Azerbaijan is one of the smaller markets for eCommerce with a predicted revenue of US$78.5 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.5%, resulting in a projected market volume of US$104.8 million by 2028. With an expected increase of 9.6% in 2024, the Azerbaijani eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Azerbaijan, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Azerbaijani eCommerce market. Hobby & Leisure is the largest market and accounts for 24.4% of the Azerbaijani eCommerce revenue. It is followed by Electronics with 21.7%, Fashion with 17.4%, Furniture & Homeware with 11.8%, Care Products with 9.0%, DIY with 8.4%, and Grocery with the remaining 7.3%.
eCommerce revenue development in Azerbaijan
eCommerce revenue growth in Azerbaijan
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 17.6 | 68.3 | 67.5 | 58.6 | 70.2 | 93.0 | 46.8 | 94.5 |
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