Central Asia: E-commerce market
Kazakh entrepreneurs are joining the markets of Central Asia, where e-commerce is steadily growing and digital payment platforms are being created. In 2017, one of Kazakhstan’s online stores opened its offices in Uzbekistan, Kyrgyzstan and Tajikistan. The head of the Internet business association predicts that this year Kazakhstan’s online shopping sites will be launched in other Central Asian countries. The domestic e-commerce market is ranked in the top three among the CIS countries according to the number of online sales and emergence of new e-businesses in retail. Last year, the volume of sales amounted to US$1 billion showing a 30% increase. In 2018, experts predict at least a two-fold increase in online sales and services. Small and medium-sized businesses are actively engaging in online commerce.
KONSTANTIN GOROZHANKIN, PRESIDENT, ASSOCIATION OF INTERNET BUSINESS AND MOBILE COMMERCE:
- Kazakhstan’s online stores have an excellent chance to join markets of Uzbekistan, Tajikistan, and Kyrgyzstan and to be not just Kazakh players, but also to be the Central Asian players. This significantly increases the costs of these companies. Moreover, they will provide new services that are not available in these markets.
According to official data of the Kazakh ministry of national economy, the volume of retail trade in Kazakhstan amounted to nine trillion tenge in 2017. Out of which sales in the e-commerce market were estimated at 215 billion tenge, of which sales worth 106 billion tenge were made in Kazakhstan's online stores.