Central regions | Retail, FMCG | Finance, business

Russian e-commerce market tops $26bn as global players seize opportunities amid crisis

23 Mar '17
Russias e-commerce market continued to grow at double-digit rates last year even as offline retail was severely affected by the economic crisis. Such are the findings of a comprehensive study conducted by analysts at East-West Digital News (EWDN).

According to a recent EWDN report, online sales in 2016 exceeded $26bn, growing more than 20% year-on-year. Included in this figure are some $16bn for physical goods and $10bn for online travel.

The cross-border segment is the fastest growing, up 26% by value and 80% by number of parcels and small packages, and exceeded $4bn for physical goods alone.

The growth of this segment has been driven in large part by Chinese companies, most notably Alibabas B2C marketplace Aliexpress.ru; but key western players, including Amazon, Asos, Next and Yoox, are also in the game.

Russia remains a land of opportunity for e-retailers, despite the economic headwinds that have faced the country in recent years, said Adrien Henni, Editor-in-Chief of EWDN.

Challenging market conditions have shaken up the e-commerce sector, and the companies that emerge leaner and stronger are well placed to dominate the industry for years to come. In the medium-to-long term, Russia is set to become one of the largest online retail markets in Europe, the expert added.
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Tags: e commerce (6) / growth (29) / report (13) / EWDN (1) / Adrien Henni (0) /

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