Fashion market in Mongolia
The Mongolian Fashion eCommerce market is predicted to reach US$52.9 million by 2024 and accounts for 18.9% 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 2024-2028) will be 23.9%, resulting in a projected market volume of US$124.7 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 Apparel market in Mongolia
The Mongolian Apparel eCommerce market is predicted to reach US$28.6 million by 2024 and accounts for 54.0% of the Fashion 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 23.4%, resulting in a projected market volume of US$66.3 million by 2028. The Apparel eCommerce market is a sub-market of the Fashion market. Further categories within the Fashion market are: Bags & Accessories, and Footwear.
eCommerce revenue development in the Apparel market in Mongolia
eCommerce revenue growth in the Apparel market in Mongolia
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 77.5 | 46.1 | 86.2 | 51.1 | 43.2 | 42.8 | 22.7 | 84.1 | ||||
as of Fashion (in %) | 4.7 | 4.6 | 4.2 | 3.7 | 4.5 | 3.8 | 3.6 | 3.4 | 3.3 | 3.1 | 3.0 | 2.8 |
Market definition
Definition of the Apparel market within the Fashion market
Market definition: Fashion > Apparel The category Apparel encompasses the commercial (B2C) sale of outerwear (e.g. jackets, coats), tops (e.g. t-shirts, sweaters, blouses), bottoms (e.g. pants, shorts, skirts), and more. Not covered are sport-specific apparel (e.g. wetsuits, snowsuits, goalkeeper gloves), footwear or fashion accessories (e.g. gloves, hats, scarves). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Outerwear (e.g. jackets, coats)
- Tops (e.g. t-shirts, sweaters, blouses)
- Bottoms (e.g. pants, shorts, skirts)
- Undergarments (e.g. underwear, socks)
- Activewear (e.g. joggers, tights, tricots)
Out-of-scope
- Sport-specific apparel (e.g. wetsuits, snowsuits, goalkeeper gloves)
- Footwear
- Fashion accessories (e.g. gloves, hats, scarves)
Market comparison
The Mongolian Apparel market in a global comparison
Market comparison by growth, online share, and revenue in 2023
Select sub-category
- Socks *
- Workwear *
- Other Apparel *
- Belts *
- Headwear *
- Scarves & Shawls *
- Sunglasses *
- Wallets & Purses *
- Other Accessories *
- Other Jewelry & Watches *
- Backpacks & Daypacks *
- Hip & Fanny Packs *
- Suitcases *
- Other Luggage & Bags *
- Flat Shoes *
- Other Footwear *
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