Central regions | Retail, FMCG | Finance, business
In 2020, Russians spent $43+bn on online shopping
19 Feb '21
Russia’s e-commerce market topped $43.2bn last year, a 58.5% increase from the 2019 results, portal Firrma.ru quoted a recent report by Russia’s E-commerce Companies Association. Domestic e-commerce revenue (without cross-border trade) nearly doubled compared to 2019, reaching $37.6bn ($19.5bn in 2019).
In 2021, analysts expect a further increase in this country’s overall e-commerce market to more than $50bn, with domestic e-commerce platforms and marketplaces accounting for $43+bn.
Last year, e-commerce accounted for 9.6% of Russia’s total retail sales. In 1H 2020, e-commerce reached 10.9%, a historical record so far in this country. The market’s domestic segment covered an impressive 86% last year, leaving to cross-border trade a modest 14% (71% and 29%, respectively, in 2019).