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» Maturing Market for Russian E-Commerce After Record Growth
2019-10-09
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Maturing Market for Russian E-Commerce After Record Growth
2019-10-09
source own
Between January and June this year, online sales grew by a whopping 44% compared to the same six-month period in 2018. With this in mind, it’s the fastest growth seen in the Russian e-commerce market and shows that confidence is only growing. Thanks to this news, the sector enjoyed growth of 36% and is now valued at $13 billion. These are figures released by an e-commerce research agency based in Moscow, Data Insight.
What did this mean for orders? Well, Russians placed over 190 million orders. Over just six months, it’s almost comparable to 2016 as a whole. According to the findings from the agency, two companies are leading this charge in particular; Ozon.ru and Wildberries.
Interestingly, these two companies operate in very different ways. While they both have headquarters in Moscow, Ozon.ru belongs to the largest independent private equity firm in Russia (Baring Vostok Capital Partners) and a huge conglomerate (AFK Sistema Group). On the other hand, Wildberries is still a family-owned business despite the huge growth.
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