The scale will exceed 660 billion yuan, and the Russian e-commerce market is taking off

According to the report, the Russian e-commerce market will reach 7.5 trillion rubles (about 662.7 billion yuan) by 2025. The compound annual growth rate is expected to be 22.8% between 2021 and 2025.

“The dynamics of the Russian e-commerce market and its evolution will depend on the development of personalization of products and services, promotional opportunities, product development and design, logistics ,” said Ivan Fedin, an expert at E-Promo .

In 2020 , due to the epidemic and changes in consumption patterns , the Russian e-commerce market has undergone tremendous changes. The main factors driving its growth are: consumers continue to be affected by the epidemic and develop online shopping habits; consumer information is improved; consumer payment ability is improved; the average online shopping order amount is increased; industries such as medicine, automobiles and jewelry have entered the e-commerce market, expanding the scope and categories.

According to experts involved in the study, some of these trends will continue to strengthen this year. As a result, the share of online sales in Russia will continue to grow. The leading e-commerce players will focus on forming their own business ecosystem, which will help companies retain loyal customers, attract new customers, and effectively control the entire interaction chain with them.

The study also showed significant changes in advertising and marketing strategies : reallocating budgets to online advertising channels, reaching more potential customers, and modifying KPIs. For example, the trend of selling on social media such as Facebook, Instagram and VKontakte has become more obvious. At the same time, 30% of the experts participating in the study pointed out that the effectiveness of online advertising campaigns has increased significantly, so companies should reallocate their advertising budgets.

Elena Shuyuk, CEO of logistics company IML, said that the investment of enterprises in infrastructure construction, the gradual construction of logistics centers, the introduction of new technologies, and the accumulation of user experience have made online shopping easier and more enjoyable. At present, the penetration rate of e-commerce in Russia is relatively low, so the Russian e-commerce market still has great growth potential.

Russia