Ecommerce Sales in Russia to Near EUR 30 Billion

RussiaPic-300Ecommerce in Russia has been growing rapidly responding to a variety of influences including the spread of Internet use in the large population. A new report by Hamburg-based business intelligence organization yStats.com details the growth, the trends and other information about the online retail market in the country.

In year on year sales increase, Russia ranked fifth worldwide last year and is forecasted to surpass South Korea to become the ninth largest B2C ecommerce market worldwide in terms of 2014 sales. It is first among the BRIC countries in spending per shopper and Internet penetration. In Europe, Russia’s B2C ecommerce market was the fourth largest by sales in 2013.

The growth of Internet users between 2008 and 2013 between 2008 and 2013 ranked fifth worldwide, with a 100% increase over the period. These developments will support we growth for the next five years: yStats.com forecasts that B2C ecommerce sales will reach almost EUR 30 billion in 2018.

Two trends that are affecting B2C ecommerce worldwide also have their influence in Russia. The practice of shopping through a mobile device is increasing rapidly, as mobile Internet penetration increased by over half in 2013. Cross-border shopping is also a trend, as around 10% of online shoppers buy directly from merchants in Europe and the rest of the world.

The leading product category in terms of sales in 2013 was consumer electronics and appliances, followed by clothes and shoes, but the fashion segment was the leading category by share of online shoppers making purchases. When paying for online purchases, cash on delivery continues to dominate in Russia, but payment by credit or debit card as well as alternative methods are on the rise.

Of the foreign players, the leading in terms of unique visitors from Russia were Aliexpress.com, eBay.com and Amazon.com.

The ecommerce sector in Russia has been a target for investment. In 2011-2013 the main beneficiaries of large investment sums were fashion online stores, such as Lamoda, KupiVIP and Sapato.

This year, online retailers of goods for children have been targeted, as this segment has untapped growth potential. The deals involved online stores for children goods Mamagazin, Esky and Babadu.

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