The RuNet economy expanded by 40% in 2024, reaching RUB24.03 trillion ($257.45bn), with e-commerce accounting for more than 91% of the total, according to a study by the Russian Association of Electronic Communications (RAEC) presented at the Russian Internet Forum (RIF-2025), Vedomosti reported on September 26.

Russia has been focusing on rapidly developing its e-commerce and high tech sector after technology sanctions were imposed following the invasion of Ukraine in 2022.

First Deputy Chief of Staff of the Presidential Executive Sergei Kiriyenko announced the growth figures at the forum’s plenary session, stating that the Russian internet segment has seen "more than 40%" growth for the second consecutive year.

“These are very impressive figures,” he said. “This is largely due to the presence of powerful national platforms, a mature ecosystem of digital solutions, significant government support... and the growing trust of Russian audiences in domestic internet services and domestic social networks.”

RAEC forecasts the RuNet economy will grow by a further 30–34% in 2025 to between RUB29.5 trillion and RUB30.5 trillion ($316.05bn–$327.05bn).

Russia is already a major player in online commerce. Yandex, Russia's tech national champion has recovered from its post-2022 restructuring when its Dutch parent sold Russian assets for $5.4bn and under founder Arkady Volozh split off to create Nebius, an AI focused infrastructure giant, after publicly criticising Putin’s war in Ukraine. Yandex still holds a commanding position in search and is expanding its e-commerce, taxis, and AI service, earning RUB1.1 trillion ($11.2bn) in 2024, up 37% y/y. Revenues in the first quarter of this year were also up a third (34%) to RUB305bn ($3.7bn).

Russia's e-commerce has rebounded strongly after a 2022 dip as Russian companies step into the market niches vacated by exiting Western incumbents.

In 2024 the market’s total value was RUB8.6 trillion ($86.6bn), up +42% y/y from RUB6.1 trillion in 2023, with the online share of retail at 5-10%. Projections for this year is for the market’s value to reach RUB7.5-8.7 trillion ($91-106bn), another 5-10% y/y increase accounting for inflation.

In the optimistic scenario the value of e-commerce could reach RUB12.6 trillion by end-2025. The CAGR between 2025-2033 is expected to remain at 8.9%, reaching RUB142.62bn by 2033.

Today e-commerce continues to dominate the digital economy, says Kiriyenko, contributing approximately RUB22 trillion ($235.85bn) in 2024, representing a 39% increase y/y. Other segments also recorded significant gains, with marketing and advertising up 53% to RUB1.23 trillion, infrastructure growing 36% to RUB0.55 trillion, and digital content increasing 53% to RUB0.25 trillion.

Yuri Lindre, Deputy Director for Analytical and International Activities at RAEC, said AI integration added around 15% to digital economy growth, Vedomosti reported.

“AI is the main technological driver of the 21st century,” he said. “Its implementation in infrastructure and business processes has added approximately 15% to the development of the digital economy.” RAEC’s revised methodology for 2024 included cross-border trade for the first time, contributing roughly 5% to e-commerce growth. The update also improved inflation adjustment and forecast reliability.

Major players

Among major players, Ozon reported a 64% y/y rise in gross merchandise value to RUB2.875 trillion in 2024, projecting a further 40% increase in 2025 driven by demand from smaller towns. Ozon ranks as the second-largest player, capturing about 20-25% of the market share. The platform benefits from integrated logistics capabilities, including its own warehouses, which enhance delivery speed and reliability, contributing to customer retention and operational efficiency.

Wildberries remains the market leader, despite a controversial merger and scandalous corporate battle between the husband and wife shareholders. Its results highlight a maturing market and 52% of its sellers now produce their own goods, according to a survey by RWB Research. Wildberries commands approximately 30-35% of the overall market share and is Russia’s biggest retailer of any kind. In 2024, the platform achieved a GMV of around RUB2.5-3 trillion, with robust 54% of growth y/y between 2023 and 2024. The company primarily focuses on fashion and household goods, leveraging its extensive product assortment and efficient logistics to maintain dominance in these categories.

Yandex Market said it is focusing on improving the user and seller experience through multi-stage product selection verification, AI-based personalisation tools, and its premium Ultima service. Yandex.Market has a 10-15% market share, with a GMV of roughly RUB500-700bn. It capitalizes on Yandex's commanding share of Russia's search traffic to drive targeted advertising and user acquisition. The platform enjoyed bounce-back growth after its corporate breakup in 2024, with revenues doubling.

Other notable platforms include SberMarket, which specializes in food and groceries and holds about 5% of the market, and Avito, a classifieds and consumer-to-consumer (C2C) site with approximately 10% overlap in e-commerce activities.

Online grocery sales have grown over 40%, with large retailers seeing the online share of their turnover double in three years to 10%, according to AY Experts. The non-food segment is expected to reach 40.4% online penetration in 2025, rising to 57.8% excluding fuel and vehicles.

Marketplaces are driving structural change in Russian retail. Collectively, they dominate two thirds (64%) of the sector's total volume, a significant rise from 23% in 2019. According to Yakov & Partners, the share of e-commerce in total retail has risen from 5% to 23% in seven years, while marketplace turnover has grown 20-fold, increasing their share from 23% to 64%, Vedomosti reported.