China advances into Russias ecommerce market

Tuesday 12 August 2014 00:54 CET | News

The China-Russia cross-border ecommerce market represents almost half of international e-retailers’ total sales to Russia, accounting for up to USD 1.5 billion in 2013, according to a study by East-West Digital News.

Alibaba, a Chinese ecommerce company, stands out as a frontrunner, as it prepares its introduction on the NASDAQ.

Also, in July 2014, AliExpress, the group’s B2C platform made Yandex.Money available as a new payment option. This Russian electronic currency allows its users to pay via mobile phone as well as in cash via 170,000 offline locations across Russia. This includes the Sberbank cash-in kiosks and Russian mobile retailer outlets.

Yandex.Money is coming in addition to two other popular Russian payment means, the Visa-QIWI Wallet and virtual currency WebMoney, which were already available to AliExpress users.

The Chinese group also launched iTao, a social network project dedicated to Russian e-shoppers. The service is a mixture of social networks Pinterest and Instagram, with users posting successful and unsuccessful shopping experiences, adding product information, as well as sharing tips with each other.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation for mature and emerging markets.

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Keywords: China, Russia, cross-border, ecommerce, Alibaba, Yandex.Money
Categories: Payments & Commerce
Countries: World
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