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E-Commerce Market in Russia in 2020-2024 - Russian Search Marketing
E-Commerce Market in Russia in 2020-2024 - Russian Search Marketing
Here are the key metrics for 2011–2019 Russian e-commerce market growth:
CAGR — 28%
online sales volume (including taxes) — from 235 billion rubles to 1.72 trillion rubles
In 2019 the e-commerce market growth rate was higher than before, primarily because of TV and online ads and
investments into infrastructure. The biggest market players were able to attract new customers and reengage customers
who did not enjoy their previous online buying experiences.
E-commerce market growth in Russia in 2020–2024: Data Insight forecast. Source: Data
Insight
Growth in the pool of Russian consumers who started buying goods online in 2020.
Most of these customers would have tried buying goods online in the following 5 years regardless of consumer behavior
shifts. In addition, they’ll be less active than Russians with more experience in online purchases.
Shift of purchases from offline to online.
In 2020 e-commerce stores saw a significant growth of sales numbers and average sales volume.
The growth rates in 2021 are not expected be quite as high as in 2020, but Data Insight experts predict that most
consumers will continue buying online in 2020 and 2021.
Remote work leading to relocation away from large cities.
With work from home becoming more prevalent among Russian companies, many employees are likely to move out of
large cities to towns where stores might not have the goods they are accustomed to.
This is expected to lead to online sales growth.
FMCG online sales growth.
This is one of the market sectors with the highest growth potential (Russian Search Marketing wrote about it here and
here).
Russian e-commerce market, sales volume forecast, in trillions of rubles. Source: Data Insight
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For additional information on e-commerce market trends in Russia, browse past articles and resources here.
EKATERINA HOWARD
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