Ecommerce Foundation: Russian e-commerce market expected to reach 21.6 billion euros in 2016

According to the latest Russian e-commerce report released by the Ecommerce Foundation, the growth rate of B2C e-commerce in Russia was 31% in 2014, but the growth rate in 2015 was only 6.6%, despite the growing number of online shoppers.

Last year, the Russian economy was in recession, which led to a slowdown in the development of e-commerce. As a result, the average online shopping expenditure of Russian consumers in 2015 was 685 euros, down from 741 euros in 2014. Russian consumers still prefer to pay with debit cards, with 40% choosing this payment method, almost seven times the number of people who choose credit cards.

Russia's e-commerce market reached 21.6 billion euros in 2016

Russia's e-commerce growth rate is expected to be 5.3% in 2016, an increase of about 1 billion euros. The e-commerce scale in 2015 was 20.5 billion euros, and this year it will reach 21.6 billion euros.

Popular categories

The most popular products in Russian e-commerce are still clothing, followed by IT products, shoes & fashion items, video entertainment, and communication services. Travel is currently the most popular online service in Russia, with air tickets and hotel services having the largest market share, followed by travel packages & personal transportation, insurance, and event tickets.

Mobile e-commerce in Russia

The scale of mobile e-commerce in Russia has reached 2.79 billion euros, and the number of mobile phone and tablet users in Russia is growing. In 2014, 17% of Russians over the age of 16 used mobile phones to access the Internet, and last year this proportion increased to 37%. The number of users using tablets to access the Internet also increased from 8.4% in 2014 to 19.2% last year.

Cross-border online shopping is popular on Chinese websites

The frequency of cross-border online shopping by Russian consumers is gradually increasing, and Chinese websites are popular among cross-border consumers. "Many products are cheaper abroad than in China. Due to the devaluation of the ruble, the prices of products in most Western European countries have become higher and less competitive," said the Ecommerce Foundation. "Another reason for consumers to make cross-border online purchases is that such products are not available in China or are difficult to find. The delivery speed of goods from China is relatively faster, usually within a few weeks, which is shorter than the previous delivery time of several months. Russia's trust in Chinese e-commerce websites is gradually increasing."

Compiled by Hugo.net