Russia’s e-commerce is booming, growing ten-times faster than the traditional economy but it still only accounts for 4.5% of the total retail turnover. But as the leading online retailers start over taking their bricks and mortar rivals the race is on to grab as much market share as possible before the business starts to consolidate.
E-commerce is perfect for a country like Russia. Spread out over 11-time zones with huge swaths of sparsely populated regions, online retail is a simply way for producers to service the biggest population in Europe without having to store inventory over half the surface of the planet.
bne IntelliNews editor-in-chief Ben Aris talks to Alexander Shulgin, the CEO of Ozon, one of Russia’s big three e-retailers about the rapid growth of the business and where it is headed.
Ben Aris, editor-in-chief, bne IntelliNews
Alexander Shulgin, CEO of Ozon