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 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$124.7 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
eCommerce revenue development in the Fashion market in Mongolia
eCommerce revenue growth in the Fashion market in Mongolia
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 12.7 | 32.8 | 25.2 | 56.2 | 5.6 | 76.8 | 69.2 | 97.9 |
Market definition
Definition of the Fashion market
Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Apparel (e.g. jackets, t-shirts, joggers, underwear)
- Footwear (e.g. sneakers, boots, sandals)
- Bags (e.g. handbags, backpacks, suitcases)
- Accessories (e.g. hats, sunglasses, jewelry, watches)
Out-of-scope
- Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
- Eye care (e.g. glasses and sunglasses with prescriptions)
- Beauty care (e.g. make-up, fragrances)
Market comparison
The Mongolian Fashion 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 *
* Not available for the selected country