An insight into e-commerce in the world: part four. Central Asia and Caucasus
This article continues a series of surveys on current state of online retail markets worldwide as seen by independent industry reviewers. Previously we’ve looked into peculiarities of the Western European markets. According to the results of a recent market research from yStats.com analytical portal, the region of Central Asia and Caucasus holds quite a significant potential for businessmen and affiliates wishing to capitalize on the e-commerce segment growth.
Current state of the marketAs for now, the opportunities that online retail sector in the region offers mostly remain undiscovered. This market segment here is currently staying at an early stage of development but, curiously enough, online shopping traffic predominantly comes from abroad, meaning that there is enough demand for making purchases through Internet from foreign marketplaces. As the gathered data shows, the most popular foreign retail websites for Central Asia and Caucasus are:
What is happening in different countries across the region?The regional leader in terms of e-commerce development is Kazakhstan – it’s one of the two countries on this territory where Internet penetration exceeds 50%. Still, online trade segment has a massive potential of future growth here – according to data of 2015, online retail accounted for less than 2% of the total volume of retail sales. This segment, though, is expected to show double-digit growth in a quite short period of time. It needs to be noted that Internet users in Kazakhstan are showing a growing interest towards making purchases online as they find appealing the following factors:
- Convenience of online shopping;
- A wide product selection offered by online retailers;
- Comparatively low prices.