• Sign in
  • 1751972643_633.png 1751972643_245.png 1751959824_218.svg 1751959824_520.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12500.01
    • RUB151.96
    • EUR14471.26
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +31°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Uzbekistan

    Uzbekistan's e-commerce market grows fivefold over five years

    Uzbekistan's e-commerce market grows fivefold over five years

    KPMG, a leading global professional services firm, has reported that Uzbekistan's e-commerce market has experienced a fivefold increase over the past five years.

    As a result, it is now the fastest-growing e-commerce market in Central Asia. This success can be attributed to several favorable factors, including consistent government support and a rise in the number of internet users.

    The emergence of local players, such as the primary national player Uzum Market, has also contributed to this trend as it is the country's sole marketplace with its fintech solutions and logistics infrastructure.

    The e-commerce market in Uzbekistan was valued at $311mn by late 2022, with an estimated growth projection to reach $2.2bn by the end of 2027. This indicates an e-commerce penetration target of 9-11%, compared to the current 2.2% level.

    KPMG analysts anticipate a surge in the number of e-commerce buyers in Uzbekistan due to growing internet penetration and favorable demographics. The solid macro fundamentals and increasing share of the urban population are also expected to result in higher-order frequency.

    The government's support has played a crucial role in developing the e-commerce industry in Uzbekistan. Key milestones in this development include the adoption of the "Electronic Commerce Law," the "Digital Uzbekistan 2030" strategy, the "E-commerce Development Strategy," and the establishment of an IT park.

    Nikolay Seleznev, Director for Strategy and M&A at Uzum Market, highlights that

    integrating convenient fintech services with marketplaces is one of the growth levers available in Uzbekistan.

    One in three orders placed with Uzum Market is paid in installments via Uzum Nasiya. Further integration with Uzum Bank and Click would enable the company to provide customers with more convenient payment options.

    However, KPMG analysts have identified the lack of logistical and IT infrastructure, as well as convenient and reliable digital financial services, as primary barriers to the development of the e-commerce market in Uzbekistan. Nevertheless, the emergence of major national players, such as Uzum Market, who are developing logistics and financial infrastructure, will significantly impact market development and help overcome existing limitations. Investors have recognized the vast potential of this sector and are keen to leverage the opportunities, as evidenced by the entry of foreign companies like ZoodMall into the market.

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    03.09.2023, 12:50   Comments (0)   4001
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Uzbekistan advances to CS:GO World Championship semi-finals

    03.09.2023, 12:03

    Annual inflation rate in Uzbekistan rises from 8.9% in July to 9% in August

    03.09.2023, 00:51

    Washington Mayor declares September 1 Uzbekistan Independence Day in U.S. capital

    02.09.2023, 18:30

    Uzbekistan advances neurosurgery with modern equipment and techniques

    02.09.2023, 16:29

    President Shavkat Mirziyoyev honors First President Islam Karimov at Hazrati Khizr Complex 

    02.09.2023, 12:51

    Consumer sector in Uzbekistan sees 0.5% increase in August 

    01.09.2023, 15:27
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    Beeline Uzbekistan started 2025 with a significant network modernization

     

    Recommended

    Heatwaves could kill thousands annually across Central Asia by 2090, World Bank warns

    17 July, 12:10

    Azerbaijan vs Russia: why a bilateral quarrel is reverberating across Central Asia

    9 July, 15:42

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12
     
     
     

    Latest news

    Ekaterina Barabanova: Why the CIS needs to challenge talent strategy before 2027

    Central Asia | 30 July, 19:30

    Mirziyoyev slams raw fruit exporters as rejected shipments threaten Uzbekistan’s market reputation

    Uzbekistan | 30 July, 17:02

    JW Marriott to make Uzbekistan debut in Tashkent by end of 2025

    Uzbekistan | 30 July, 14:30

    “Kazakhstan is one of our largest trading partners”, says Erdogan, as Türkiye aims to raise trade volume to $15bn

    Kazakhstan | 30 July, 13:02

    Iran to establish railway connection with Tajikistan and Turkmenistan

    World | 30 July, 11:50

    Uzbekistan to restructure military education system with new defense university and dual-degree programs

    Uzbekistan | 30 July, 10:30

    Uzbekistan ramps up anti-corruption efforts as 75% of cases involve daily public services

    Uzbekistan | 30 July, 09:08
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.