Russia to witness online retail boom in 2013

Published on : Friday, February 15, 2013

Online shoppingOnline shopping in Russia will see a real boom in 2013, according to analysts from US investment bank Morgan Stanley. They estimated that market volume for online purchase in Russia will double this year, and is due to increase to 40 billion dollars by 2015.
Every second Internet user currently buys products through the Internet, namely, 25 million Russians are annually involved in online shopping. Last year’s market volume for e-commerce in Russia stood at 12 billion dollars, a figure that experts say may increase drastically in 2013 thanks to broadband Internet access. They are echoed by Moscow-based analyst Ilya Rachenkov who mentions two major factors to add to expanding online shopping in Russia.
“First and foremost, this year will see further growth in broadband Internet access in Russia, where the number of Internet users is almost certain to increase, Rachenkov says. Another factor is the spread of online banking and electronic payment systems, including Yandex Money and many others.”
Shopping clothes and electronics online has been not uncommon in the Runet in the past few years, something that was also the case with the online service of collective purchases. Experts say that such a service will see a decline in 2013 due to overstocked market.
Meanwhile, Morgan Stanley experts predict that the market volume for products purchased online in Russia will increase to 36 billion dollars by 2015 and more than 70 billion dollars by 2020. This means that part of the shopping business will be gradually transferred to the Internet to reduce expenses, says Sergei Khestanov, chief executive of the Alor company.
“Online shopping, Khestanov says, will contribute to enhancing the consumer retail market due to the fact that as compared to traditional trade, online one can introduce a lot more goods to be purchased by customers all across Russia.”
According to Russia’s leading Internet search engine Yandex, last year saw an increase in regional online shopping in Russia, a trend that experts say will play into the hands of young trade specialists who could support online shopping. This, in turn, will add to creating more jobs in Russia in the future.

Related Posts

Tags: , ,

3 Responses to Russia to witness online retail boom in 2013

  1. mourcence says:

    This seriously answered my dilemma, thank you!

  2. Jessica says:

    I believe that is one of the most important information for me.
    And i’m happy reading your article. But should remark on some common things, The web site taste is ideal, the articles is in point of fact excellent : D. Just right task, cheers

Leave a Reply to mourcence Cancel reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 08 imexamerica 2019
  • 14 Hotelierseries Africa 2019
  • 14 restaurantscafeslounges 19
  • 16 global-hotels-resorts 2019
  • 16 TTF 2019
  • 17
  • 17 thincindonesia 2019
  • 18 Africa Hotel & Resort 2019
  • 18 chinatravelnews2019
  • 19 China Hotel 19
  • 19 itehcmc 19
  • 19 uzakrota London 2019
  • 20 sahic 2019
  • 20 uzakrota Istanbul 2019
  • 21 qthexpo 2019
  • 21 TheHotelShowSaudiArabia 2019
  • 22 Africa Hotel Investment Forum 2019
  • 22 iitm 2020
  • 22 summitasia 2019
  • 22 TTME 2019
  • 23 PTM 2019
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. TRAVELDAILY CONFERENCE & DIGITAL TRAVEL SHOW

      August 27 - August 29
    2. ibtm CHINA

      August 28 - August 29
    3. CITIE 2019

      August 30 - September 1
    4. TTF Ahmedabad

      August 30 - August 31
    5. QATAR TRAVEL AND HOLIDAYS EXPO

      September 3 - September 4
Get our toolbar!
Review www.travelandtourworld.com on alexa.com