While Russia’s economic growth only sputtered along in the first half of this year, registering less than 1%, e-commerce in the country shows no signs of stopping. During the same six-month period, online shopping surged by a rate of 26 per cent. Despite sanctions from many Western nations and reluctance by some demographics to give up traditional shopping patterns, market analysts see the growth in e-business as a sign of good things to come.
Just in time for winter
The stunning growth accounts for over $US11 billion in sales of products and services spent on credit via smartphones and laptops. The longer distances to and simpler selections in brick-and-mortar stores, not to mention epically harsh weather conditions during the long Russian winter, goes far in showing why business trackers and digital marketers are confident that the trend will continue to grow in popularity. News of the convenience is spreading rapidly in small towns and villages across the world’s largest country. The changes to lifestyles are nothing less than revolutionary.
Just the beginning
The percentage of online sales in Russia is 6 per cent now, indicating just how much room for expansion and opportunity there is for companies who can tap into the market of netizens with rubbles to spend on wonders of all kinds from the wider world. Chinese manufacturers in particular are in prime position to cash in on the trend, for various factors related to long-term convenience, primarily logistics and price. And to think, just a generation ago a significant amount of trading across Russia took place in frenzied, five-minute stops along the Trans-Siberian railroad, with products being hastily lowered from the train to buyers and money handed up to sellers. All across mother Russia, the future is very much now.
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