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Russians begin spending more on purchases from foreign online stores

23 May 2016

• 23 May 11:34

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The first quarter of 2016 has seen Russian purchases from foreign internet stores total $1 billion as gains by the ruble in the last six months have seen consumer confidence pick up. But domestic internet retail growth lags more than 100% behind. Source: Vostock-Photo In the first quarter of 2016 Russians' purchases from foreign online stores totaled 70 billion rubles ($1 billion), which is 106 percent more in comparison with last year, according to AKIT, the Association of Internet Commerce Companies. In total the number of purchases increased almost threefold, by 182 percent. Surprisingly, the volume of purchases made from Russian online stores increased. Read more...