Specialised research agency Data Insight has just released the international version of its Russian e-commerce report for 2020. Domestic sales of physical goods amounted to RUB2.7 trillion (some $37bn at the average exchange rate of the year), up 58% from 2019 – placing Russia among the world’s fastest-growing e-commerce markets, reports East-West Digital News (EWDN).
Several segments recorded explosive growth as the pandemic drove millions of consumers to online shopping, accelerating pre-existing market expansion.
The most spectacular example is e-grocery, with sales volumes reaching RUB13bn ($180mn), up 250% from 2019. Illustrating this trend, market leader X5 Retail Group posted a 347% GMV jump, becoming Russia’s largest digital company in food retail.
Data Insight also ranks Russian e-commerce sites by sales volume, number of orders and average order value. The 2020 ranking identifies the following leaders:
Online fashion leader Lamoda – a property of Global Fashion Group – held the seventh place among Russian e-commerce sites. It underperformed the market with a mere 32% sales growth y/y.
Meanwhile, the performance of Western omnichannel retailers Ikea and Leroy Merlin is striking. According to Data Insight’s analysts, the Swedish DIY giant generated almost $566mn in online sales revenues last year (up 175% from 2019), while its French competitor made around $524mn (up 217%).
Amazon is absent from this ranking. The US giant’s sales to Russian consumers are modest, based only on a cross-border offer.
This article first appeared in East-West Digital News (EWDN), a bne IntelliNews partner publication.