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Retail Sector in Kazakhstan Might Need One More Year to Rebound

The volume of retail sales in the country will reach $32 billion by the end of 2022

Photo: Pixabay

According to Euromonitor International's outlook, the volume of retail trading in Kazakhstan (e-commerce included) will rebound to the pre-pandemic level at the end of 2022. The share of e-commerce is going to change dramatically.

The company forecasts that this year retail sector plus e-commerce in Kazakhstan will generate $30.6 billion in revenue which is 4.2% more than last year. In December 2022 this rate might reach $32 billion or rebound to the pre-pandemic figures in the retail sector.

Euromonitor International analysts believe that buying preferences in Kazakhstan may change soon. For example, the demand for food products in big department stores will rise by 4-4.5%. 

The e-commerce sector is also going to rise significantly: by 19% in 2021 and by 15% in 2022. As preliminary calculations show the volume of goods Kazakhstanis purchase online will reach $2.8 billion by the end of this year and $3.2 billion by December 2022. This is twofold growth if compared to 2019; the relative share of e-commerce is going to grow from 3.3% to 9%.

Kazakhstan’s economy started to rebound in spring 2021 while some positive signs had been reported even in fall 2020. Over the period from January to August 2021 the retail sector generated about $18.3 billion in revenue.
 


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