eCommerce market in Russia

Russia is the 8th largest market for eCommerce with a predicted revenue of US$86,603.5 million by 2024, placing it ahead of France. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 5.1%, resulting in a projected market volume of US$105,714.8 million by 2028. With an expected increase of 17.8% in 2024, the Russian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Russia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Russian eCommerce market. Electronics is the largest market and accounts for 23.3% of the Russian eCommerce revenue. It is followed by Hobby & Leisure with 22.1%, Fashion with 19.1%, Furniture & Homeware with 11.9%, Care Products with 8.8%, DIY with 8.4%, and Grocery with the remaining 6.3%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Russian retail market, the online share is 9.0% and will increase by an average of 6.8% to 11.7% by 2028.

The biggest player in the Russian eCommerce market is wildberries.ru. The store had a revenue of US$5,930.5 million in 2023. Store rankings include every store that generates revenue in Russia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Russia was considered.

With 83.9% VISA the most commonly offered payment method of all online stores in the Russian eCommerce market in 2023. Like VISA Mastercard with a share of 83.9% and MIR with a share of 63.9% the payment type Cards is the most common used by online retailers in in the Russian eCommerce market in 2023. Other commonly used payment methods in that market are Cash on delivery (Cash on delivery) with 71.0% and Bank transfer/cash in advance (Bank transfer) with 45.8% of stores offering that payment method to the clients.

Despite Russian Post's dominant position with 50.0% of online stores opting for its services, the Russian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including CDEK, Boxberry, DPD, and Own delivery service, hold smaller but significant shares, contributing to a dynamic and fragmented market.