Ecommerce in Russia to reach EUR 19.74 bln in 2019

Monday 29 July 2019 09:42 CET | News

Online sales of physical goods in Russia are expected to reach approximately EUR 19.74 billion at the end of 2019, according to a report by EWDN.

As the report shows, in 2023, Russian ecommerce is forecasted to be worth almost EUR 45 billion. Currently, ecommerce in Russia is entering an accelerated development cycle with multiple online retailers seeing their revenues grow annually between 50 and 150%.

Other key findings of the report:

  • in 2018, ecommerce in Russia was worth EUR 16.35 billion, an increase from 19% compared to 2017;

  • in 2018, physical ecommerce in Russia, excluding cross-border sales, accounted for about 5% of total retail sales.

  • online retailers from China still dominate the market, but Western online retailers are becoming more and more popular, while new players from countries such as Turkey are entering the market;

  • for online shopping, e-wallets are a popular method – 71% of urban Russians aged 18 to 55 use electronic wallets for online purchases (a Mediascope survey in 2018 showed);

  • foreign ecommerce and online payment companies should pay particular attention to Russia’s personal data laws.

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Keywords: Russian, EWDN, payment method, online shopping, e-wallet
Countries: World