Russia’s eCommerce market is one of the fastest growing markets in Europe. With an annual growth rate of 8.4%, it is also growing much faster than the U.S. (8.3%), U.K. (5.8%), Japan (6.2%) and Germany (6.5%). Relative to many of its neighbours, Russia has come late to the eCommerce game, primarily because of low internet penetration and inferior infrastructure for shipping and delivery. However, as of 2018, Russia has the largest internet user base in Europe (109.5 million) and as internet access has increased, so has online shopping.
Across the country, Russian internet users are increasingly buying retail goods online. They are also looking beyond their borders, with cross-border trade increasing 39.17% to $6.74 billion in 2017. If Russia’s eCommerce growth continues at its current pace, Russia is on track to take its place among the leading global eCommerce markets. As the Russian eCommerce market evolves and grows, a huge opportunity exists for U.S. retailers to establish a presence and grow brand loyalty.
To help you get started thinking about this potential market and whether it makes sense for your business to sell to online shoppers in Russia, eShopWorld has created this overview with important insights into the Russian eCommerce market.