Jay LeonardBusinesses of all sizes have been looking to foreign E-commerce markets in search of profits as the Western territories markets have become unstimulated through austerity.
One market that wouldn’t have been considered for expansion going back a few decades was Russia. Once a hostile and difficult territory to expand into has now got a flourishing e-commerce market, with brands and businesses all over the world are looking to make the most of the waking of the e-commerce giant.
Russia boasts the most internet users in Europe; with recent figures showing that 36 per cent of Russians buy from foreign online retailers, with the UK accounting for 21 per cent of these purchases it’s no surprise to see retailers renew their interest in the country.
It’s notable to mention that only 50% of Russia’s population is online, a surprising statistic really considering the country already boasts the most internet users. As more Russians gain regular access to the internet it is likely to see a rise in their e-commerce wealth and spend per internet user.
Russia’s e-commerce growth in the past has been significantly hindered by a deep trust of unreliable online payment gateways and fraudulent e-commerce vendors. Russians still preferred payment method is cash on delivery, an outdated progress that will likely fade out over the next decade as more reputable payment methods and brands move into the market.
For those looking to find e-commerce opportunities look no further than Russia:
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This article was written for Business 2 Community by Jay Leonard.
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It is quite an interesting article.
In reality, though, the active users – and e-buyers respectively – number is likely higher. As of summer 2013, VKontakte (VK.com) – the largest and most popular Russian language social network in the country – had over 60 Million accounts alone which roughly about the same as the total number of internet users in Russia, according to the infographics above. Stats data may vary significantly depending on the source.
The general trend outlined here is true and strong – I feel it as a Russian e-commerce consumer who makes dozens of purchases a month. Thanks a lot, Karl