Main Business Partner
AZERBAIJAN E-COMMERCE MARKET
Main Business Partner
SISTER COUNTRY AZERBAIJAN HARBORS LOTS OF OPPORTUNITIES IN THE E-COMMERCE ECOSYSTEM
The report we analyzed e-commerce ecosystem in our sister country Azerbaijan has been published after a long study. One of the most important e-commerce players in the CIS region, Azerbaijan harbors many opportunities for retailers in the country and in Turkey. For that reason, this report is so important to us.
Azerbaijan, with dynamic online consumers, a strong economy, stable political structure and digital infrastructure operations, is a country on the focus of the e-commerce ecosystem. A great increase in e-commerce numbers is expected in the short and middle-term with Azerbaijan’s performance in communication technologies. According to Statista, it is expected that Azerbaijan will reach $405 million in e-commerce market income in 2020. $534 million market volume in e-commerce income is foreseen until the year 2024. The largest segment in the market has been the fashion sector like it was in many countries. It is expected that fashion products will make up the $117 million of the general e-commerce sales volume. Also, it is expected that user penetration rate will increase to %36.4 from %32.5 between the years 2020 and 2024. Income per use is expected to reach $122.
These numbers show that Azerbaijan will keep its trend of going up in e-commerce. Also, Azerbaijani online customers got used to the safe and practical shopping opportunities that e-commerce ecosystem offer during the COVID-19 pandemic process, so the number of online customers might even be higher than expected. When these are all considered, Azerbaijan is an attractive market in the e-commerce ecosystem both domestically and internationally.
Turkey comes forward as the strongest competition in the market as it’s the country closest to Azerbaijan geographically, culturally, and in terms of friendship. Turkey has a fraternal relationship due to both countries’ history. “One nation, two states” is a saying that proves this. This is why Turkish retailers have to make the best of their opportunities in this market. There are many opportunities to make cooperations in this market which is always showing a vertical acceleration.
As WORLDEF, we are tracking the Azerbaijan e-commerce and crossborder e-commerce markets with great attention. World E-Commerce Forum Eurasia 2019 that we held last year in Baku on November 26 is the manifestation of our attention to this market. Many companies from the Azerbaijani e-commerce ecosystem to Online World E-Commerce Forum 2020 event that we held on May 16. The forum set the ground for cooperations between many Turkish and Azerbaijani e-commerce companies. We are expecting Azerbaijani government officials and e-commerce companies to attend the Online World E-Commerce Forum G20 which we’ll organize between December 2-4 this year.
We believe that “Azerbaijan E-Commerce Report”, published as a collaboration between WORLDEF ENTERPRISE and Fortune Turkey, will be an important source for the CIS region in particular. In the report, there are titles such as the current situation of the e-commerce market in Azerbaijan, logistics and distribution possibilities, government incentives, payment systems, customs and tax regulations, problems and solutions in the Azerbaijani e-commerce market. I give my thanks to WORLDEF Academic Board President Prof. Dr. İbrahim Kırcova, Fortune Turkey, and all who worked on the report.
We love Azerbaijan
Hope to see you in new reports…