BAKU, Azerbaijan, June 17
By Fidan Babayeva – Trend:
E-commerce in Azerbaijan is developing steadily, and in the future, it will overtake offline sales in terms of indicators, Acting Director of the Scientific Research Institute of Economic Reforms under the Ministry of Economy of Azerbaijan Arzu Huseynova told Trend.
According to Huseynova, the events of 2020 (COVID-19) led to the rapid development of the already steadily growing e-commerce market.
“In 2020, e-commerce made up one-fifth of all retail sales, having risen from 16 percent to 19 percent over the year, according to a 2020 report from the United Nations Conference on Trade and Development (UNCTAD). We can say that e-commerce has been growing even before the COVID-19 pandemic. According to experts, in 2019, its volumes reached $26.7 trillion, which is about 30 percent of global GDP," Huseynova said.
The coronavirus pandemic has become a catalyst for e-commerce, she noted.
"E-commerce ensures access to the global market, high profitability, the provision of personalized products to customers, a flexible sales tool, a large number of promotion tools, growth factors," Huseynova said.
According to the expert, having online stores is of great importance for a business.
"The creation of an online store increases the competitiveness of an entrepreneur," Huseynova said.
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