Online sales accounted for 12% of Russia’s total retail market in 2021
Adrien Henni, chief editor, East-West Digital News Russia’s domestic ecommerce market grew by more than 50% last year, reports research agency Data Insight , reaching 4.1 trillion rubles (around $55 billion at the average exchange rate). No less than 1.7 trillion orders were made, more than doubling (+104%) year-on-year — in which Data Insight sees an all-time record.
Online sales accounted for 12% of Russia’s total retail market — and as much as 26% if excluding the food market. These indicators were up 3 percentage points and 5 percentage points, respectively, from 2020.
Fast market growth was fueled mainly by big marketplaces, such as Wildberries, Ozon, AliExpress Russia, Yandex Market and Sber Mega Market. Their market share jumped from less than 30% of online orders in 2018 to 49% in 2020 and 62% in 2021 (35% in sales volume). However, the average value of these orders decreased by 18% to 1,420 rubles (around $50), notes Data Insight.
Russian B2C ecommerce orders Domestic orders only. Source: Data Insight Online share of total Russian retail sales Domestic online sales only. Source: Data Insight Reaching 329 billion rubles (around $4.4 billion), e-groceries expanded faster in volume (+159% year-on-year) than any other market segment. Growth was even more spectacular in number of orders (from 69 million in 2020 to 237 million in 2021).
Russian ecommerce had grown more moderately in the past decade. Fueled by the pandemic, market expansion accelerated dramatically in 2020 . That year, domestic sales of physical goods amounted to 2.7 trillion rubles (some $37 billion at the average exchange rate of that year), up 58% from 2019, placing Russia among the world’s fastest-growing ecommerce markets. Positive prospects for Russian ecommerce
In 2022, despite the economic turmoil associated with the war and the sanctions, Russian ecommerce could remain on a positive track, […]
Click here to view original web page at www.digitalcommerce360.com
I am a robot. This article is curated from another source (e.g. videos, images, articles, etc.). For the complete article please use the link provided to visit the original source or author. Content from other websites behaves in the exact same way as if the visitor has visited the other website.
Warning: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of MichelPaquin.com.