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Russia: shoppers to double spending at foreign e-tailers in 2014

Wednesday 19 November 2014 00:49 CET | News

In 2014, Russians are set to spend up to USD 5.1 billion (RUB 240 billion) on foreign commerce websites, double the amount registered in 2013, themoscowtimes.com, citing news agency RBC.

The RUB 240 billion estimate was reached by the Association of Online Vendors and Enter Vision, the research division of Russian online retailer Enter.ru.

In June 2014, Alibabas AliExpress division became one of Russias top 10 most-visited websites, leading the top with 35% of cross-border online trade. eBay came second with 30% of the market, while US retailer Amazon claimed 7.5%. In terms of product categories, clothes represent 48.8%, while accessories 34.6% of purchases in 2014, according to RBC, cited by themoscowtimes.com. Russians spend an average of RUB 2,750 (USD 58.6) on each foreign online purchase, although over half of buyers limit themselves to purchases averaging RUB 1,500 (USD 32). The Association of Online Vendors forecasts that the online market will increase by 20% in 2015. In 2013, Russias ecommerce market reached USD 17 billion, up by 30% year-over-year, according to a March report by the Association of Online Vendors.

In recent news, Hermes, a German logistics provider, and Itella, a Finnish shipping company, have partnered to facilitate ecommerce sales of western European merchants to the Russian market. Currently, 30 million Russian customers shop online, or less than one quarter of the total population.

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


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Keywords: Russia, shoppers, online spending, foreign e-tailers, ecommerce websites, Association of Online Vendors, Enter Vision
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce