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Russian e-commerce growing fast

0 22 July 2014

The total volume of Russian e-commerce grew by 23% between 2012 and 2013, reaching a total of over $56 billion, according to J’son & Partners Consulting. Electronic services such as the internet, mobile phone commnication, television etc. account for 53%, with another 42% taken up by hardware sales. The remaining 5% is due to sales of digital products such as online games or tickets.

The fastest growing sector of the electronic market is internet commerce, which grew to $15 million in 2013. The average growth of this sector over the last 5 years was almost 43% per year.

As estimated by J’son & Partners Consulting, the volume of direct investments and venture funding in Russian internet commerce totalled almost $13 million in 2013.

The market is dominated by the Moscow region (about 40%), followed by Saint Petersburg, Yekaterinburg, Novosibirsk and Chelyabinsk.

Most Russians love window-shopping on the internet, but tend not to buy products online, since many experience problems with their credit cards during online transactions. About a tenth of the total sales come from English-speaking online stores, where Russians mostly browse for clothes or shoes.

The volume of Russian e-commerce is expected to reach an impressive $114 billion by 2018, 40% of which will be due to online sales.

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