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Russia’s retail e-commerce market soars 20% to $15.7 billion

  • 22 Mar 12:02

Russia’s retail e-commerce market soars 20% to $15.7 billion Foreign online retailers account for a third of the Russian market, with China the leading company overall. Experts say Chinese retailers might soon drive Russian companies out of the market if this trend continues. Chinese online retailer Aliexpress became the most popular online store in Russia. Source: Sergei Konkov/TASS Russia’s total retail e-commerce sales reached 920 billion rubles ($15.7 billion) in 2016, up 20 percent from the previous year, according to astudy(in Russian) by the Association of Online Retail Companies (AKIT), which unites the country’s largest e-commerce retailers. AKIT estimates the market will top 1 trillion rubles. Read more...